Thursday, November 9, 2017

USA, Idaho: Resource Estimate at San Emidio II Geothermal Project Between 25 and 47 MW After Flow Test

U.S. Geothermal Inc. Reports Third Quarter 2017 Results and Updates 2017 Guidance (News Release)

U.S. Geothermal Inc. announced today its financial and operating results for the third quarter of 2017, ended September 30, 2017, updated guidance for 2017 and highlighted notable achievements in the third quarter of 2017.

  • 20th consecutive quarter of positive Cash Flow from Operations and EBITDA
  • Achieved increased generation at Raft River; expected to provide approximately $1 million increase in revenue in 2018
  • Completed multi-well flow test at San Emidio II; results continue to support resource estimate of 25 MWs (at P90) to 47 MWs (at P50)
  • El Ceibillo development project awarded two grants during the third quarter of 2017
"Although we experienced mechanical issues at two of our operating plants that negatively impacted gross profit by approximately $1.2 million, we also had non-recurring costs that impacted our results for the first nine months of 2017," said Douglas Glaspey, Interim Chief Executive Officer. "Our plants are performing well as we enter our best quarter of the year for historical generation, and we are optimistic that we will deliver results within the guidance range that we have updated today."