Albany, NY -- (SBWIRE) -- 07/07/2014 -- Geothermal exploration takes place in various phases such as Regional reconnaissance, prospect evaluation, project appraisal and exploratory drilling. Numerous drilling techniques are used in geothermal exploration depending on economic considerations, region’s geology and project maturity. Geothermal exploration are further classified based on the techniques such as data and modeling techniques, downhole techniques, drilling techniques, field techniques, geochemical techniques, geophysical techniques, lab analysis technique and remote sensing techniques. Data and modeling technique includes data acquisition, analytical modeling, numerical modeling and portfolio risk modeling.

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Downhole technique comprises of borehole seismic techniques, formation testing techniques, well log techniques and well testing techniques. Drilling technique covers development drilling and exploration drilling. Field techniques involve data collection and field sampling. Geochemical techniques mainly include geochemical data analysis. Geophysical technique contains electrical techniques, gravity techniques, magnetic techniques and seismic techniques. Lab analysis technique comprises of fluid lab analysis and rock lab analysis. Remote sensing technique involves active and passive sensors.

Some of the major factors driving the growth of geothermal exploration market are increasing population and growing economies. However, high cost and the large time required to complete geothermal exploration can hinder the growth of the market. Ample opportunities are there for geothermal exploration market as demand for electricity is rising at a rapid rate.

Some of the key players in the business of geothermal exploration are Mannvit Engineering, Schlumberger Ltd, Baker Hughes Inc, Geothermal Exploration Ltd, Cluff Geothermal Ltd, Kalahari GeoEnergy Ltd, Panax Geothermal Company and Weatherford

International Ltd among others.

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