U.S. Geothermal's CEO Dennis Gilles on Q2 2015 Results - Earnings Call Transcript (Seeking Alpha)
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U.S. Geothermal
CEO Dennis Gilles |
We completed our first major overhaul at Raft River after seven years of operation and completed our spring outages at San Emidio and Neal Hot Springs. On the growth side, at El Ceibillo in Guatemala, we received approval of our modified construction schedule under our geothermal concession agreement from the Guatemalan Ministry of Energy and Mines. We have begun drilling our exploration well EC-2 and currently planned to follow that with the drilling of well EC-3. We’ve received permits for the next round of drilling in the South Zone at San Emidio and we have begun drilling there.
On our Geysers project, we completed and extended flow test of our production wells which yielded excellent results. The flow test results from those wells were at or above the rates achieved when the wells were originally drilling -- were originally drilled. We have had numerous meetings with counterparties interested in possible power purchase agreements and we’ve submitted formal offer proposals as well. On our Neal Hot Springs project, we have begun drilling of our water supply wells to be used for hybrid cooling to increase our summer time generation. The drilling is now complete and we are beginning our flow testing.
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