Fervo's Third Well Design Speeds Drilling; Quaise Banks $134M
The redesign lifted rates 143% since Cape Station's first well; Quaise's $134 million is only a first close of Series B funding.
- Fervo's third-generation well design drove the 143% drilling-rate gain, per its July 8 release.
- Cape Station is the baseline: rates compared against Fervo's very first well there.
- Quaise closed $134 million as the initial tranche of a Series B round, July 7.
Why it matters: A company grading its own progress is the only referee an unproven industry has.
Fervo Energy press release (via GlobeNewswire); Quaise Energy press release (quaise.com) ↗ · Jul 12, 20267/12/26 · ✓ Checked✓ Check