Monday, January 13, 2014

USA, Idaho:

U.S. Geothermal Update (News Release)

GRC member company U.S. Geothermal Inc., provides an update on the results of its three operating projects for the fourth quarter of 2013, and status of development activities.

All three units at Neal Hot Springs geothermal plant in Oregon, have been and are operating smoothly, with fourth quarter availability of 94.7%. December generation averaged 27.7 net megawatts per hour for all hours the plant was in service.

The plant performance at the San Emidio geothermal plant in Nevada, was exceptional, with fourth quarter availability of 98.3%. December generation averaged 9.96 net megawatts per hour for all hours the unit was in service.

The plant performance at the Raft River geothermal plant in Idaho, was exceptional, with fourth quarter availability of 99.2%. December generation averaged 10.2 net megawatts per hour for all hours the plant was in service.

Evaluation and testing of well EC-1 at the El Ceibillo geothermal project in Guatemala, which found a higher than anticipated resource temperature of 526°F (274°C), was completed. Based on the results of EC-1, a second round of drilling was planned, and on January 9th drilling began on a series of eight to ten 650 foot (200 meter) gradient wells that will be used to further map the underlying geothermal resource and assist with identifying future drilling targets. This second round drilling program is expected to continue over the next three to four months.

The company has also completed evaluation and testing of wells OW-12 and OW-10 at the San Emidio geothermal project in Nevada, and they have applied for and are waiting on the issuance of drilling permits from the U.S. Bureau of Land Management (BLM) before drilling additional wells to further define the resource. Additionally, a detailed development schedule for the Phase II project was submitted to NV Energy, the power off-taker, and they are awaiting their approval.