Premier Corex and TEVERRA (Formerly PETROLERN) Announce Strategic Alliance
Providing Excellence in Geoscience and Engineering Solutions for Large-scale Geothermal Projects
ATLANTA, May 12, 2023 (Newswire.com) - Premier Corex and Teverra announce the formation of a strategic alliance to provide rock and fluids testing combined with engineering and geoscience consulting for the geothermal energy industry.
As the market continues to expand to include geothermal energy, there is less specific data to support these new developments. Better understanding of the reservoirs to maximize their potential as well as the inherent risks within these projects is of paramount importance. Through the combination of Premier's world-class rock and fluids laboratories as well as extensive data library and Teverra's growing technology portfolio and expertise, asset developments can take a holistic approach that utilizes what used to be disparate data sources to create actionable intelligence.
As part of the strategic alliance, Premier Corex, a global leader in the aggregation, generation, and application of rock and fluid data, will use its high-tech laboratories to generate data required by Teverra, a leading-edge provider of low-carbon solutions for subsurface operations, to provide full-scale thermo-hydro-mechanical modeling and design for companies developing large-scale geothermal projects.
"Companies involved in the development of geothermal resources are looking to better understand the subsurface and evaluate the viability of large-scale geothermal projects to help meet the world's energy demands now and into the future," said Randal Wichuk, President and CEO of Premier Corex. "This strategic alliance will not only help these companies to evaluate the viability of geothermal projects by illuminating the subsurface, but it will also allow our clients to maximize the energy potential from these resources in the most cost-effective way. We are excited to partner with Teverra to be able to provide these services and further solidify our commitment to energy transition."
Dr. Hamed Soroush, Founder and CEO of Teverra, states: "This partnership is focused on providing more robust and impactful solutions for geothermal operators with the integration of high-quality data and value-added data-driven solutions. This is required for efficient and reliable development of geothermal resources and will be vital as we scale this baseload energy source. We are very excited about combining our decades of subsurface expertise and innovations with Premier Corex's extensive experience in rock and fluid data generation and integration in order to make geothermal profitable. Ultimately, we are putting the puzzle pieces together to create empowering intelligence to push the energy transition forward in a cost-effective and safer manner."
About Premier Corex, LLC
Premier Corex is a global leader in the aggregation, generation, and application of rock and fluid data, utilizing it to better understand, explore and develop earth resources to ensure we can meet the world's energy demands in an environmental and sustainable way. It is founded on the belief that the data-driven energy industry is here and generating and sharing relevant data from rock and fluid samples is the key to illuminating the subsurface and providing more effective and efficient resource development. Premier has assembled world-class experts, laboratories, and platforms to produce subsurface data, make it readily accessible and help its clients apply the data effectively for carbon storage and geothermal projects. Visit www.premiercorex.com to learn more.
Teverra is a leading-edge technology and consulting company working on subsurface solutions for geothermal, carbon storage, and traditional hydrocarbon projects. We conduct cutting-edge R&D and execute global projects to increase our client's profitability while minimizing their environmental footprint. Our green energy initiative begins with supporting the evolution of the carbon storage and geothermal markets and helping oil and gas operators lower their carbon footprint by providing energy transition solutions. Our core competencies include resource assessment, geomechanics, rock physics, reservoir engineering, applied artificial intelligence, visualization, and software development. We apply these skills to optimize drilling, completions, stimulation, and production, plus providing high-resolution subsurface monitoring. Visit www.teverra.com to learn more.
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