
Geological Sciences Seminar - Dr. Nick Harris
Basin-hosted geothermal energy
Risks and reward in developing geothermal resources in the Western Canada Sedimentary Basin – What we know and what we don’t, and where do we go from here.
Dr. Nick Harris (University of Alberta)
The development of low enthalpy geothermal resources in sedimentary reservoirs in the Western Canada Sedimentary Basin (WCSB) has captured public attention and economic investment by small start-up companies, generally with significant government funding. Yet no projects have yet been successful, and the oil and gas companies that know the basin best have remained on the sidelines.
In this talk, I explore the potential for geothermal development in the WCSB, the economic and technical obstacles that have slowed development of this resource, and the science and engineering that will be required if geothermal developments are likely to be successful. One critical step will be the development of a systematic approach to estimating net present value for specific projects; this will enable investors to make systematic decisions with regard to financial opportunities. Approaches taken in the oil and gas industry that are based on petroleum system analysis may be adaptable to the appraisal of geothermal resources.