Raser Technologies encouraged by geothermal drilling results

Source: Energy Digital

Date :2/29/2008 4:46:20 AM

Provo-based Raser Technologies Inc has announced that it has completed the drilling phase of its geothermal production well in Utah, and that the results are ‘promising.’

According to the company, preliminary readings of the well indicate the existence of geothermal resources with promising water temperatures well in excess of 260°F (127°C).

Temperatures of up to 400 degrees are usually considered ideal for geothermal power, but Raser's plan is to make use of ground water at lower temperatures, using a secondary fluid with a lower boiling point to drive power turbines.

Further testing

“We are pleased with the preliminary results of this drilling program,” said Brent M. Cook, Raser’s CEO, “and look forward to executing on our business plan. Our initial review of the information from this well is encouraging, however, precise data will not be available until further flow testing and verification can be conducted.

“Based upon preliminary results as well as data from other wells in the area, we expect the well to achieve temperatures around 300°F (150°C). We anticipate that the power this project generates will be sold to a southern California utility under a power purchase agreement that will be announced after final approval has been granted.”

Raser also plans to build three other geothermal power plants in Nevada and a fourth in New Mexico.

February 29, 2008