Think nuclear energy and Three Mile Island, Chernobyl and Fukushima may quickly come to mind. But those involved in nuclear energy insist that the nuclear energy space has significantly evolved in terms of technology and safety.
And proponents of nuclear energy are bringing their case to the Permian Basin, the heart of oil and natural gas production, to make their case.
The discussion should not be about oil and natural gas but about energy – all energy, said Chris Wright, chief executive officer of Liberty Energy. He brought the founder of Oklo, which builds small modular reactors, along with Oklo’s head of business development, to Midland this week to discuss their reactor technology. His company has made a $10 million investment in Oklo.
The reasons were twofold, Wright told the Reporter-Telegram.
“This is the shale oil and gas capital of the world, with the people who are leaders in the industry,” he said. “(If) the energy dialogue is about improving lives, these are the people I want engaged in that dialogue.”
The second reason is the growing electrification of the oilpatch – from drilling rigs to frac fleets – and the need to be able to access that electricity in the Permian Basin, he said.
Jake DeWitte, Oklo founder, agreed, telling the Reporter-Telegram that as the Permian Basin oilpatch becomes increasingly electrified, the challenge to meet that demand will grow. The small modular reactors Oklo manufactures will help close that transmission gap and reduce stress on the grid, he said.
And because these reactors require much less space and are less expensive to build, he said they can be deployed to areas where the population doesn’t have access to any electricity or to reliable, affordable, abundant electricity. The technology also utilizes recycled fuel, converting used nuclear fuel into clean energy.
Oklo is preparing to deploy its first reactors, known as the Aurora Powerhouse, beginning in 2027, having received approval for its Quality Assurance Program Description from the Nuclear Regulatory Commission. The company has also submitted updated combined license application for its first reactor as well as subsequent applications for additional reactors, Brian Gitt, Oklo’s head of business development, said.
“Nuclear is going to dominate electric generation,” Gitt predicted. “Oil and natural gas are the foundation of civilization. I see these as synergistic technologies.”
It operates under a business model whereby customers sign a Power Purchase Agreement and Oklo operates the reactors.
