Slovakian hard-rock drilling and geothermal company GA Drilling has secured a US$44.1 million investment package to take its novel NexTitan drilling tool to the commercial validation stage.

The funding round, led by TomEnterprise, with participation from Underground Ventures and Nabors, includes $24.7 million in new capital and $19.4 million converted from prior SAFE funding.

"Our priority now is execution. Demonstrating performance in the field is what ultimately earns trust in this industry. We are entering a new chapter for NexTitan, focused on real-world results." 

NexTitan has the potential to materially reduce drilling costs. Essentially, instead of relying only on surface control from a drilling rig, the tool senses conditions downhole and adjusts drilling parameters in real time.

Dubbed the world's first downhole anchoring and drive system, NexTitan has been designed for industrial, energy and geothermal well drilling. The company says it can increase ROP performance threefold, while measuring vibration, torque, and drilling conditions in real-time. Tripping is also reduced with automatic adjustment of the weight on bit (WOB) to suit the drilling terrain.

Used in a geothermal drilling project, for example, GA Drilling says the tool (pictured above) enables developers to unlock greater resource potential reducing operational costs. 

"Inclined/horizontal geothermal wells, whether in conventional hydrogeothermal fields or advanced EGS/AGS projects, are a playground for use of GA Drilling's innovative downhole tools."

Founded in 2008, GA Drilling specialises in hard-rock drilling and geothermal well construction. Headquartered in Bratislava, the company has offices in the US, UK and Brazil.

 

 

 

Geothermal wells are a playground for use of GA Drilling's innovative downhole tools