Subsurface technology company Teverra LLC has been awarded a US$1.2mn grant from the Department of Energy (DOE) to advance its revolutionary Drilling Dynamics Geomechanics (DDG) technology into real-time capabilities.
The project promises to transform drilling operations by delivering instant insights into subsurface stress and mechanical properties along with real-time risk assessment and mitigation. The initiative targets critical challenges presented by CO2 storage, geothermal energy, hydrogen storage and oil and gas ventures.
Drilling operations constitute a significant portion of costs, making the understanding of geomechanical characteristics crucial for safe and cost-effective drilling. Conventional methods often rely on limited datasets which lead to uncertainties and inefficiencies in wellbore analysis. Teverra’s DDG technology uses the power of AI to offer a solution to this problem by leveraging drilling dynamics data acquired through vibration sensors.
Dr Hamed Soroush, CEO and Founder of Teverra, said, “This grant underscores Teverra’s commitment to innovation and sustainability in the energy sector. We’re excited to advance our DDG technology, proven reliable via multiple field testing, to real-time applications. Our goal is to bolster safety, slash costs and boost efficiency in drilling operations through enhanced technology.”
The grant means Teverra will be able to expand DDG’s application to enable real-time evaluation of geomechanical characteristics and wellbore stability while drilling. Teverra aims to introduce an end-to-end automated data analytics pipeline, offering real-time insights and recommendations at the rig site.
Teverra’s approach carries significant implications for the energy by having the potential to save billions of dollars annually by reducing non-productive time and mitigating risks, thus improving the economics of projects such as geothermal and CCS development.