Alterra Power Announces Results For The Quarter Ended March 31, 2017 And Annual General And Special Meeting (News Release)
Geothermal field improvement at Reykjanes: Field enhancement efforts (including well venting and turbine pressure adjustments) have achieved positive results, arresting the previous generation decline and resulting in increased generation compared to the fourth quarter of 2016. The company expects further field and plant output improvement from the drilling of planned new wells, well work-overs, and potentially from the recent deep drilling project well drilled in Iceland.
Completion of potential high output well at Reykjanes field: A deep drilling program at Reykjanes was completed in January 2017 (IDDP 2), reaching a depth of 4,650 meters, making it the deepest well drilled in Iceland. Initial well readings (427°C temperature, 340 bars pressure) indicate supercritical conditions at the base of the well. Based on these early readings, if IDDP 2 is able to be utilized for electric production, it may produce as much as 30-50 MW of electrical output at the Reykjanes plant. The final production potential for the well will not be known until late 2018 after further tests and research are completed.