Additional exploration permit application for geothermal energy accepted for Whitebark Energy
Published by Jessica Casey,
Editor
Energy Global,
Whitebark Energy Ltd has further expanded its potential geothermal portfolio after the acceptance of an additional geothermal exploration permit (EPG). The company’s newest permit, EPG2050, consists of 573 sub-blocks within the Cooper Basin, approximately 125 km South-West of Eromanga in South-West Queensland. This is following the recent acceptances of EPG2049 (also South-West Queensland) and EPG2037 (South-East Queensland) which bring Whitebark’s portfolio of Queensland based EPG assets to a cumulative 6240 km2 and will further complement the portfolios ability to meet hydrogen production demand.
EPG2050 covers an area of approximately 1776 km2 and was identified follow-ing a comprehensive review of a number of geological considerations, future market access availability in the region and expected synergies to arise from the nearby EPG2049 asset. As previously announced, the company continues to progress the evaluation of the commercial opportunity presented by hydrogen production and associated government incentives utilising geothermal power.
EPG2050 has been identified as having the potential to support geothermal development and hydrogen production and is a result of the team’s assessments including energy to market analysis. Initial indications from offset well data indicate an elevated geothermal gradient in the area with considerable potential to produce long-term, dispatchable renewable energy and hydrogen for the region.
The acceptance of the additional EPG application provides a unique opportunity to consolidate the company’s asset base in Queensland, and more specifically, the Cooper Basin. In conjunction with the company’s technology partner and government bodies the company has begun to identify a works program for EPG2050, EPG2049, and EPG2037, including timelines and financing.
Whitebark General Manager, Adam Stepanoff, said: “The acceptance of EPG2050 further underscores our commitment to harnessing geothermal resources, complementing our existing EPG assets in renewable energy production. We are excited about the potential our combined portfolio holds and will continue to evaluate opportunities as part of our currently underway hydrogen commercialisation study and the recently announced hydrogen funding government consultation. Renewable energy production initiatives continue to attract strong support from investors and government bodies and we remain committed to meeting the growing demand for clean, reliable energy.”
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Read the article online at: https://www.energyglobal.com/other-renewables/03062024/additional-exploration-permit-application-for-geothermal-energy-accepted-for-whitebark-energy/
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