Devon Energy has patented a method and system for storing and recovering energy in a geothermal system. By controlling injection and production flow rates, pressure, and fluid residence time, energy consumption and generation profiles can be managed. This innovation allows for shifting energy production to meet demand fluctuations efficiently. GlobalData’s report on Devon Energy gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Devon Energy, Remote controlled surveillance was a key innovation area identified from patents. Devon Energy's grant share as of February 2024 was 51%. Grant share is based on the ratio of number of grants to total number of patents.
Geothermal energy storage and recovery system
A recently granted patent (Publication Number: US11927369B2) discloses a method for shifting geothermal energy production from periods of lower demand to higher demand. The method involves injecting fluid into a confined geothermal reservoir system using an injection well, producing fluid from the reservoir using a production well, and generating electric power at a baseline level by removing heat from the produced fluid. By modifying the flow properties of the fluid in the wells, the system enters charging and discharging periods, where the net electric power generation fluctuates above and below the baseline level, allowing for energy storage and delivery to the electric grid.
Furthermore, the patent details the creation of confined geothermal reservoir systems using low-permeability formations, well stimulation treatments, and specific well placement patterns to optimize geothermal energy production. The method also includes the use of an Organic Rankine Cycle generator system to convert thermal energy into electricity efficiently. By optimizing charging and discharging periods based on local ambient air temperature conditions and utilizing historic temperature measurements, the system aims to achieve high round trip efficiencies while minimizing fluid leakoff and parasitic loads. The patent also describes a system comprising injection and production wells, an Organic Rankine Cycle generator system, and control valves to facilitate the shifting of geothermal energy production between different demand periods.
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GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
