Fervo Energy Learning Curve Continues on 3rd Generation Well Design, Boosting Drilling Rates by 143% Since Its First Cape Station Well

Fervo Energy announced that its Sawtooth 7 well reached total depth in 21 days, matching its fastest drilling pace while being substantially deeper, hotter, and longer than previous designs. The company has achieved a 70% reduction in drilling time compared to its first commercial well in 2022, with the 3.0 well design utilizing 7,500-foot laterals at 460°F. Fervo expects Cape Phase II to deliver power at $5,500 per kilowatt and remains committed to achieving $3,000 per kilowatt.