Cost Estimator

Fervo Energy; Houston (TX); Hybrid; USD 90,000 - 150,000; Full time

Benefits offered by this job

Health benefits

401(k) match

Flexible PTO

Life Insurance

Disability coverage

Stock options

Employee stock purchase program

Wellness stipend

Job summary

Fervo Energy is seeking a Cost Estimator to support the development and construction of geothermal power projects. You will build and maintain cost estimates across the lifecycle from feasibility to procurement and construction, collaborating with Engineering, Supply Chain, and Project Controls to keep estimates aligned with current market data.

The ideal candidate has strong Excel modeling skills, a solid foundation in estimating methodologies (AACE), and the ability to clearly communicate

Qualifications

• Bachelor’s degree in Engineering, Construction Management, or a related technical field, or equivalent experience
• 3+ years of cost estimating experience in geothermal, power generation, industrial construction, or a related capital-intensive industry
• Working knowledge of estimating methodologies and classifications (e.g., AACE International recommended practices)
• Strong Excel modeling skills; experience with cost estimating or project controls software (e.g., cost databases, benchmarking tools) is a plus
• Ability to read and interpret engineering drawings, scopes of work, and vendor quotes
• Excellent communication skills, with the ability to present estimates and assumptions clearly to cross-functional teams
• Comfort operating in a fast-moving, high-growth environment with evolving scopes and shifting priorities

Responsibilities

• Develop and maintain cost estimates (conceptual, budgetary, and detailed/AACE Class 1-5) for geothermal well pads, power facilities, and supporting infrastructure
• Build cost models and estimate databases covering surface facilities, electrical interconnection, and balance-of-plant scope
• Maintain historical cost databases, unit rates, and escalation factors, and continuously improve estimating tools, templates, and methodology
• Partner with Engineering and Project Controls to align estimates with project schedules, scope definitions, and execution plans
• Work with Supply Chain and Sourcing to incorporate current vendor quotes, market pricing, and commercial terms into estimates
• Track actual costs against estimates, analyze variances, and feed lessons learned back into future estimating assumptions and benchmarks
• Support capital planning, budgeting, and investment-committee materials with clear, well-documented cost bases and ranges of accuracy
• Prepare risk and contingency analyses (e.g., ranged estimates, sensitivity analysis) to support project decision-making
• Communicate estimate assumptions, exclusions, and confidence levels clearly to technical and non-technical stakeholders, including leadership

Skills

Excel modeling

Communication

Reading drawings

Cost estimating

AACE knowledge

Cost databases

Benchmarking tools

Education

Bachelor’s degree in Engineering/Construction Management or related field

Tools

Excel

Cost databases

Benchmarking tools

Job description

Fervo Energy (NASDAQ: FRVO) is a modern power company developing next-generation geothermal resources to meet the growing demand for affordable, reliable, 24/7 carbon-free energy. Our mission is to transform geothermal into America’s most dependable and affordable source of clean, around-the-clock power. By combining innovations in horizontal drilling, fiber-optic sensing, and advanced reservoir engineering, Fervo has developed a repeatable approach to building utility-scale enhanced geothermal systems. Our flagship Cape Station development in Utah is planned to deliver 500 MW of firm, carbon-free power, and we are advancing a development pipeline of more than 50 GW. Join us and work alongside world-class engineers, geoscientists, operators, project builders, and business leaders working to make geothermal a cornerstone of a more reliable, affordable, and sustainable energy future.

Position Description

The Cost Estimator will support the development and construction of Fervo’s geothermal power projects. This role will build and maintain cost estimates across the power plant lifecycle, from early-stage feasibility through detailed engineering, procurement, and construction, and will partner closely with Engineering, Supply Chain, and Project Controls to keep estimates grounded in current market and field data.

This is a strong fit for someone who enjoys translating scopes of work and engineering deliverables into rigorous, defensible numbers that inform investment decisions. The ideal candidate brings solid estimating fundamentals, strong Excel modeling skills, and the ability to communicate assumptions and confidence levels clearly to both technical and non-technical stakeholders in a fast-moving, high-growth environment.

Responsibilities

Cost Estimation: Develop and maintain cost estimates (conceptual, budgetary, and detailed/AACE Class 1-5) for geothermal well pads, power facilities, and supporting infrastructure.

Cost Models and Databases: Build cost models and estimate databases covering surface facilities, electrical interconnection, and balance-of-plant scope. Maintain historical cost databases, unit rates, and escalation factors, and continuously improve estimating tools, templates, and methodology.

Cross-Functional Alignment: Partner with Engineering and Project Controls to align estimates with project schedules, scope definitions, and execution plans.

Supply Chain and Market Pricing: Work with Supply Chain and Sourcing to incorporate current vendor quotes, market pricing, and commercial terms into estimates.

Variance Analysis and Lessons Learned: Track actual costs against estimates, analyze variances, and feed lessons learned back into future estimating assumptions and benchmarks.

Capital Planning Support: Support capital planning, budgeting, and investment-committee materials with clear, well-documented cost bases and ranges of accuracy.

Risk and Contingency Analysis: Prepare risk and contingency analyses (e.g., ranged estimates, sensitivity analysis) to support project decision-making.

Stakeholder Communication: Communicate estimate assumptions, exclusions, and confidence levels clearly to technical and non-technical stakeholders, including leadership.

Qualifications

Required

Bachelor’s degree in Engineering, Construction Management, or a related technical field, or equivalent experience

3+ years of cost estimating experience in geothermal, power generation, industrial construction, or a related capital-intensive industry

Working knowledge of estimating methodologies and classifications (e.g., AACE International recommended practices)

Strong Excel modeling skills; experience with cost estimating or project controls software (e.g., cost databases, benchmarking tools) is a plus

Ability to read and interpret engineering drawings, scopes of work, and vendor quotes

Excellent communication skills, with the ability to present estimates and assumptions clearly to cross-functional teams

Comfort operating in a fast-moving, high-growth environment with evolving scopes and shifting priorities

Preferred

Experience with power facilities, electrical interconnection, or renewable energy project costs

Familiarity with project controls disciplines (scheduling, cost/schedule integration, earned value)

AACE certification (e.g., CCP, CEP) or progress toward one

Location

Fervo Energy has offices in Houston, TX, Golden, CO, Reno, NV, Oakland, CA, and Salt Lake City, UT. This position will be eligible for some hybrid work flexibility, but regular in-office presence at our Houston, Salt Lake City, or Milford offices will be required.

• Fervo offers a comprehensive benefits package designed to support your health, financial well-being, and life outside of work. Benefits for eligible employees include:
• Medical, dental, and vision plan options
• Employer-paid basic life insurance and short-term and long-term disability coverage
• A 401(k) plan with a dollar-for-dollar company match
• Flexible paid time off and paid parental leave
• Family-building, fertility, hormonal health, pregnancy, postpartum, and parenting support through Carrot
• A dependent care FSA for eligible child and elder care expenses
• An annual Lifestyle Spending Account for eligible wellness expenses, including fitness, financial planning, pet insurance, and pet care
• Employee ownership opportunities through Fervo’s Employee Stock Purchase Program, as well as stock option grants and bonus opportunities for eligible roles

Benefits and programs are subject to eligibility requirements and may change.

Our Workplace

Fervo Energy highly values having employees work in the office to foster collaboration and strengthen our company culture. This role follows a hybrid schedule, with team members expected to work in the office three days per week. Fervo considers this in-office schedule an essential function of the role.

Equal Opportunity Employer

Fervo Energy is an Equal Opportunity Employer and does not discriminate on the basis of race, color, creed, gender, religion, marital status, registered domestic partner status, age, national origin, ancestry, physical or mental disability, medical condition, sex, genetic information, sexual orientation, military or veteran status, or any other consideration made unlawful by federal, state, or local law. Fervo also prohibits discrimination based on the perception that an individual has any of these characteristics or is associated with a person who has or is perceived as having any of these characteristics.