logo
logo

Patterson-Uti Announces Strategic Investment In Geothermal Technology Company, Criterion Energy Partners

Mar 08, 2022•over 3 years ago
Houston

Description

HOUSTON, TX / March 8, 2022 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today announced a strategic investment in Criterion Energy Partners, Inc., a geothermal energy development company. Criterion plans to use the proceeds from this investment to advance its first of a kind project in Texas and further execute on its technology development roadmap.

Company Information

Company

Criterion Energy Partners

Location

Houston, Texas, United States

About

Criterion Energy Partners is a geothermal energy company that plans to develop distributed energy projects to help customers reduce emissions and improve operating efficiency using heat from the earth. The company's mission is to create a more sustainable future by making geothermal energy projects commercially viable everywhere. Key to its strategic advantage are Criterion Energy Partners' team of managers, associates, and advisors with extensive experience in Business Development, Finance, Legal, Drilling & Completions, Subsurface Engineering, Geology, Geophysics and Data Science. Criterion Energy Partners touts value creation through its business model and tangible measurements, including (i) Emissions reductions, (ii) Power reliability, (iii) Long term cost stability and (iv) Weather resiliency.