"The Geothermal Business Model and the Oil & Gas Industry"
Tim Lines, CEO Geothermal Wells LLC
Tuesday 14 March 2023
National Liberal Club, 1 Whitehall Place, London SW1A 2HE

Fuellers Advantage - A series of technical meetings, held jointly by the Worshipful Company of Fuellers with the Science Circle of the National Liberal Club

The next Fueller’s Advantage is being held on Tuesday 14 March at the National Liberal Club when Tim Lines, CEO of Geothermal Wells LLC will speak on "The Geothermal Business Model and the Oil & Gas Industry". All Fuellers and their guests are invited to attend for what should be a fascinating and informative evening.

Geothermal resources are reservoirs of hot water that exist or are human-made at varying depths below the Earth's surface. Currently wells around 1 to 5 miles deep plus 1 to 4 miles horizontal are drilled into underground rock to tap steam and very hot water that can be brought to the surface for use in a variety of applications, including electricity generation, direct use, and heating and cooling. Over the past two decades within the oil and gas industry, there have been significant technological advances that greatly increase access to geothermal energy and the transfer of this technology, and commercial expertise, is a priority for decarbonization of the world.

Tim is very keen that the audience prepares to debate complex techno-economic and political issues; and strongly encourages you to email him questions and diagrams in advance so he can display them on the screen during Q&A.

The talk will address some or all of the below, depending on the current level of knowledge and interest of the audience.
• the subsurface and surface engineering similarities and differences between oil and gas and geothermal developments.
• A future-gazing calculation to illustrate geothermal’s potential contribution to global primary energy supply in 2050 for the IEA’s three scenarios if the same number of geothermal wells were drilled as oil and gas wells each year.
• The current and near-term future technologies for extracting geothermal heat from conventional permeable rock, low permeability rock and impermeable rock. This will include a quantification of the challenges of relying only on heat conduction, rather than advection and convection for sustainable (say 30 year) developments. It will also discuss geothermal storage as a competitor to batteries for ancillary services on power grids.
• The range of target reservoir depths required to supply direct heat to industry/ agriculture/commercial/district heating, and the advantages and disadvantages of geothermal compared with natural gas and No 4 fuel oil.
• The range of target depths required to supply electricity and the competitive advantages and disadvantages of geothermal compared with natural gas and coal
• The quantification of the commodity price advantage from the European ETS (Emissions Trading System) for geothermal compared with gas, coal and fuel oil
• A calculation will be presented to determine the flowrate of water required to deliver say 3 MW electrical power per well for various bottom hole reservoir temperatures.

ABOUT TIM LINES

Tim Lines serves as CEO of a 2022 Texas start-up, Geothermal Wells LLC. He is a lead author of the January 2023 U. Texas at Austin publication “The Future of Geothermal in Texas”. Over the past two years, he has focused on geothermal opportunities to accelerate decarbonisation, and the pivotal role that oil and gas technology transfer, and its specialists, must play.

In 1990, he co-founded Oilfield International, which provides valuation services to investors and sellers of assets; and access to capital. He has served on the Boards of oil companies in UK, Thailand and Cyprus, the latter controlling 1.2 billion barrels of oil reserves in eastern Siberia. On behalf of the European Commission, he led a team of heat and power experts and legislators to develop the regulatory and tariff framework for district heating and combined heat and power in Central and Eastern Europe. He holds BSc Chemistry, MSc Petroleum Engineering from Imperial College UK, MBA, Chartered Engineer, Fellow of the Geological Society and Fellow of the Energy Institute UK. He is a past chair of the SPE Distinguished Lecturers program, and a co-founder of the SPE (Society of Petroleum Engineers) Europe annual geothermal hackathon.

PRICE
£22.50 per person to cover the cost of tea, coffee and sandwiches.

BOOKING DEADLINE
Please book by Friday 4 March 2023 to enable us to finalise the catering

TIMINGS
1800 Registration, tea, coffee and sandwiches
1845 Introductions
1850 Tim Lines: 'The Geothermal Business Model and the Oil & Gas Industry'
1950 Questions and Answers
2020 Summary and closing remarks
2025 Cash Bar drinks reception and further discussion
2300 Close

LOCATION
National Liberal Club, 1 Whitehall Place, London SW1A 2HE
View location on map

ORGANISER
Simons Parsons, Fuellers Liveryman
email questions to Simon