In this dissertation, two specific numerical models have been developed to address the issues associated with utilization of supercritical CO2, like fracture creation, proppant placement and fracture closure in unconventional gas reservoirs, reservoir stimulation, heat production and CO2 sequestration in deep geothermal reservoirs, respectively. In unconventional gas reservoir, the model consisting of classic fracture model, proppant transport model as well as temperature-sensitive fracturing fluids (CO2, thickened CO2 and guar gum) has been integrated into the popular THM coupled framework (TOUGH2MP-FLAC3D), which has the ability to simulate single fracture propagation driven by different fracturing fluids in non-isothermal condition. To characterize the fracture network propagation and internal multi fluids behavior in deep geothermal reservoirs, an anisotropic permeability model on the foundation of the continuum anisotropic damage model has been developed and integrated into the popular THM coupled framework (TOUGH2MP-FLAC3D) as well. This model has the potential to simulate the reservoir stimulation and heat extraction based on a CO2-EGS concept.