Whitebark further expands its Australian geothermal energy portfolio with a new permit

Winton, Queensland, Australia (Source: flickr/Chris Fithall, Creative Commons)

Whitebark Energy Limited (Whitebark) has further expanded its potential geothermal energy portfolio in Australia by accepting the EPG2050 geothermal energy exploration permit. Combined with the previously issued permits EPG2037 (south-east Queensland) and EPG2049 (south-west Queensland), this brings EPG’s assets at Whitebark in the Queensland region to a total area of ​​6,240 square kilometers.

EPG2050 consists of 573 sub-blocks in the Cooper Basin, approximately 125 kilometers southwest of Eromanga in southwest Queensland. The approximately 1,776 square kilometer site was identified following a comprehensive analysis of a number of geological considerations, future market access availability in the region and expected synergies from the nearby EPG2049 facility.

EPG2050 was found to have the potential to support geothermal development and hydrogen production. Preliminary offset drilling data indicates an elevated geothermal gradient with significant long-term geothermal and hydrogen production potential for the region.

Whitebark recently announced a path forward to commercialize hydrogen production at the company’s geothermal assets. This is in line with the Australian Government’s initiative to promote hydrogen production through broad financial support and support for the construction of a ‘hydrogen highway’ across inland Australia.

“The adoption of EPG2050 further underlines our commitment to the use of geothermal resources, complementing our existing EPG assets in renewable energy production. We are excited about the potential our combined portfolio holds and will continue to evaluate opportunities through our ongoing hydrogen commercialization study and the recently announced government consultation on hydrogen financing.” said Adam Stepanoff, CEO at Whitebark.

“Renewable energy initiatives continue to enjoy strong support from investors and governments, and we remain committed to meeting the growing demand for clean, reliable energy.”

Source: Whitebark Energy via ASX