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Big Oil Backs Mazama's $135 Million Bet On Superhot Geothermal

Big Oil Backs Mazama's $135 Million Bet On Superhot Geothermal Mazama Energy announced $135 million in new capital with an oversubscribed Series B that included ConocoPhillips and Shell Ventures. With Devon Energy initially backing Fervo in 2023, a pattern is emerging with oil and gas veterans placing their bets in the geothermal industry.  Some of the techniques developed by the O&G industry are translating well to geothermal projects. Horizontal drilling, well completions, and underground reservoir expertise are finding new purpose in an industry that is far more politically neutral than the...
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Aug 11, 2026 / Tyler Durden
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BP Shares Plunge After Chairman Abruptly Removed Over Serious Governance Concerns
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