Primeval Energy - A Summary

Primeval was established in November 2023 and formally launched in February 2024. With its highly experienced management team comprising Oil & Gas, Geothermal, and Business & Finance specialists, the company has swiftly made an impact, building a reputation which has led to a steady stream of contracts being issued globally. Primeval provides a full gamut of services, from initial feasibility studies, all the way through project design, execution ,and commissioning of geothermal production facilities. Primeval’s business and finance team also assists with project investment, bringing their partners and clients long term returns via Geothermal energy production in the form of both power and heating / cooling.

Primeval Energy was founded by Andy Wood, Iain Pittman, Martin Hindicky, Tania Zepeda Luna, Howard Tolman and Phil Boland. Together they deliver vast experience in the Subsurface, Wells, Technology, Economics, Business, and Finance. Their expertise is only outweighed by their enthusiasm and determination.

In our latest Q&A series, we sat down with Primeval Energy CEO, Andy Wood

Primeval Energy is Technology Agnostic. Please explain

Sure. Essentially, we do not tie ourselves to a limited technological approach the way most other Geothermal developers do. This  flexibility enables optimal design for every location by engineering fit-for-purpose Geothermal solutions, using the latest Oil & Gas and Geothermal industry technology and processes, and where required, coupling with other renewable energy sources.

Primeval Energy uses something it describes as the Geothermal Toolbox. Would you tell us about it

Just about all the new Geothermal companies possess and sell their own single technology. While all these technologies are extremely welcome, they are also restricting. Geothermal gradients, geology, and end use requirements are unique to each individual project or client / partner. One technology can never provide a solution for all cases. This is why Primeval is technology agnostic, setting us apart from other companies.

The Geothermal Toolbox is Primeval’s term for its very comprehensive set of technology approaches; from Oil & Gas well conversion to Geothermal Energy producers, using Open or Closed Loop technology, new wells, energy storage, and even well abandonment. This breadth of service is not offered by any other company.

You mentioned Open or Closed Loop technology. Can you explain the distinction

Absolutely! Open Loop systems involve pumping water around a series of wells (two or more), where the water travels through the subsurface, heating up as it passes through the geothermal reservoir. The resultant hot water is harvested by a production well or wells, transported to the surface and the heat used either directly or converted to electricity using Organic Rankine Cycles, heat exchangers, or steam turbines.

Closed Loop generally uses a single well with pipe inside a cased hole. Fluid is injected into the annulus and returned via the inner pipe. Closed Loop systems are often better for areas where very low permeability in the subsurface structure would impede Open Loop efficiency. A further benefit is that the fluid in the well can be anything the designer chooses. Using algorithms based on age-old physics, heat flow to the well can be calculated and production managed to provide a steady flow of heat to the surface over decades.

Because Closed Loop solutions rely on conduction and Open Loop solutions benefit from convection, the heat transfer in Open Loop systems is far more efficient. Electricity generation is therefore usually associated with Open Loop systems.

What is Geothermal Alchemy?

This is Primeval’s way of describing the conversion of end-of-life Oil & Gas wells into Geothermal producers. We’re turning Fossil Fuel liabilities into Geothermal assets, so Alchemy, turning lead into gold, is a fair description!
 
Again, for conversions, we can offer Open or Closed Loop. Closed Loop conversion is not particularly new or challenging, however Open Loop conversion, using existing clusters of injector producer well pairings is something which requires reservoir management skills which we take from our Oil & Gas experience.

So as in many other scenarios, for conversions there is generally a greater reward from using Open Loop systems.

And if a system can be optimised by utilising hybrid solar, we will also introduce this to the economic modelling and ultimate design.

Geothermal Energy appears to be experiencing a boom. Can you explain why?

There are numerous reasons for this. Of course, Geothermal is a renewable energy, which is much sought after generally. Renewable energy accounted for 14.6% of global energy supply last year, a 0.4% increase on the previous year.

However, Geothermal provides a baseload (24/7) energy supply, something which the world is much in need of. Baseload can be provided by fossil fuel burning. Renewable energy can provide an intermittent supply using wind, solar, etc., but Geothermal’s combined renewable / baseload provision is reliable and unique.

Additionally, there has been a great deal of investment and attention from the Oil & Gas industry which has resulted in new companies emerging and expanding. There is also an encouraging amount of money from Oil & Gas being spent on R&D to help solve some of the Geothermal issues related to high temperatures and drilling costs.

In Europe, the fluctuations in energy prices over the past few years have also led to companies and countries looking for reliability in their energy provision.

We have heard you refer to a ‘cradle to grave approach’. What does that mean in the geothermal world?

Primeval Energy provides a Geothermal service from inception to conclusion of every project. Our approach is to offer any Geothermal service our partners and clients may require. 

We will undertake high level feasibility studies and in-depth asset appraisal providing potential geothermal output as a part of detailed reasoned technical work. Economics and potential optimisation is factored into all we do.

If required, Primeval will manage Front End Engineering Design (FEED) of projects. Well design, execution and commissioning of geothermal energy production facilities are also offered.

If project finance is required, due to our team’s lengthy experience in this field, Primeval will also be able to arrange the suitable commercial vehicle for each project.

The company established in November 2023 and launched in February of 2024. What is exciting at this early stage of your development?

This is a big question. Every day has been exciting. We are overwhelmed by the reception and interest we have received. We are continually contacted by people and companies who understand what our technology agnostic approach means, and are keen to learn how we can help them with baseload renewable energy for their power and heating /cooling needs.

Since launch, notable Primeval achievements include:

• Establishment of a long-term partnership with Ignis Energy, providing them with advice and study related work.
• A recent partnership announcement with DGeG (Digital Geoscience Global), and our joint involvement via the Institute of Geology Malaysia with the new project which will bring geothermal energy to Malaysia.
• Entering final stages of negotiation for a number of well conversion projects. These will be an exciting development which will help Oil & Gas companies delay their abandonment expenses while using existing infrastructure to produce renewable energy.
• Building a strong pipeline of projects globally, focussing on the whole range of our services, from feasibility / geothermal output studies to larger discussions about partnerships with well and landowners, regional governments or their representatives.

Thank you to Andy Wood, CEO, Primeval Energy

KeyFacts Energy Industry Directory: Primeval Energy