Get the latest news everyday.
by Jeremy Van Loon, Bloomberg
Oil fracking companies seeking to improve their image and pull in a little extra cash are turning their waste water into clean geothermal power.
For every barrel of oil produced from a well, there’s another seven of water, much of it boiling hot. Instead of letting it go to waste, some companies are planning to harness that heat to make electricity they can sell to the grid.
Companies such as Continental Resources Inc. and Hungary’s MOL Group are getting ready to test systems that pump scalding-hot water through equipment that uses the heat to turn electricity-generating turbines before forcing it back underground to coax out more crude. To continue reading, click here.