Hi Radd, that's amazing if true about the new geothermal rig. It could substantially reduce the cost and time of drilling the wells, which of course is a huge up front capital cost. If successful I imagine the smaller geothermal players will be falling over themselves to get hold of it.
"The GT3000 promises to be able to drill at double the speed, with a third of the required equipment compared with conventional oil and gas rigs, potentially reducing costs to less than $2000 a metre."
GRK Price at posting:
3.8¢ Sentiment: LT Buy Disclosure: Not Held
