Velda Addison, senior editor, Hart Energy: NOV has stepped into the solar sector. The company is using its oil and gas technology expertise to develop solar trackers and racking systems. I'm Velda Addison, senior editor of Hart Energy, and this is a Hart Energy LIVE Exclusive.
So why did NOV decide to jump into solar?
Nick Morriss, commercialization director, NOV: We like to say that we are experts in energy no matter the source. And we've been building complicated energy systems for 150 plus years now, and solar is not a big departure from our core strengths. And so we're excited to use our resources to use our legacy and apply that towards this industry and I think we can do a good job of it.
VA: I'm looking at lots of solar panels here. Can you tell me exactly what we are looking at?
NM: So solar panels, you have to mount them on something. That's the way these things are built and the things you're mounting them on are structures and we have a long history of building quite complicated structures in the energy sector. What we're looking at today is our tracking system. It's a steel fabricated structure that holds up solar panels and it really hits a lot of strengths that we possess as an organization.
VA: And what is NOV trying to achieve?
NM: Velda, we think we can bring some really important synergies to solar, leveraging 150 years of building big projects and calling upon a supply chain that's quite frankly, much larger than the solar industry right now in traditional oil and gas. And we think if we can do that, we can bring the scale to the solar industry that they're really looking for. And we're excited about that.
VA: What's next for NOV and its solar technologies?
NM: These things are constructed using a lot of man hours, a lot of labor in the field, and we've got some interesting ideas from the oil and gas sector on how we can change that. So looking forward to it.
VA: Nick, thank you so much for your time.
NM: Thanks Velda.
VA: Learn more about the energy transition and renewables at hartenergy.com.
Recommended Reading
Decoding the Delaware: How E&Ps Are Unlocking the Future
2024-05-01 - The basin is deeper, gassier, more geologically complex and more remote than the Midland Basin to the east. But the Delaware is too sweet of a prize to pass up for many of the nation’s top oil and gas producers.
Enverus: 1Q Upstream Deals Hit $51B, but Consolidation is Slowing
2024-04-23 - Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.
Life on the Edge: Surge of Activity Ignites the Northern Midland Basin
2024-04-03 - Once a company with low outside expectations, Surge Energy is now a premier private producer in one of the world’s top shale plays.
‘Monster’ Gas: Aethon’s 16,000-foot Dive in Haynesville West
2024-04-09 - Aethon Energy’s COO described challenges in the far western Haynesville stepout, while other operators opened their books on the latest in the legacy Haynesville at Hart Energy’s DUG GAS+ Conference and Expo in Shreveport, Louisiana.
Mighty Midland Still Beckons Dealmakers
2024-04-05 - The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.