Project UpdateJul 8, 2026, 06:08 PM
Fervo Energy Drills Sawtooth 7 in 21 Days, Sets New Record
AI Summary
Fervo Energy announced a new company record by drilling the Sawtooth 7 well for its Cape Station Phase II project in just 21 days. This achievement represents a 70% reduction in drilling time for a more complex well, reaching a measured depth of 19,448 feet with a 7,500-foot lateral in a 460 degrees Fahrenheit resource. The company believes this reinforces its strategic thesis of productivity gains and cost reductions, with Cape Phase II on track to deliver at $5,500 per kilowatt and a long-term goal of $3,000 per kilowatt.
Key Highlights
- Sawtooth 7 well drilled in 21 days, setting a new company record.
- Well reached a measured depth of 19,448 feet with a 7,500-foot lateral.
- Resource temperature for Sawtooth 7 was 460 degrees Fahrenheit.
- Achieved a 70% reduction in drilling time for a substantially deeper, hotter, and longer well.
- Cape Phase II, a 400 MW development, is on track to deliver power in 2028.
- Cape Phase II is expected to deliver at $5,500 per kilowatt.
- Company remains committed to achieving a goal of $3,000 per kilowatt.
Price Impact
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