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Raser Technologies (RZ) Adds 37K Acres to Oregon Geothermal Holdings
Raser Technologies (RZ) has agreed to a long term lease agreement with private land owners covering 37K acres of geothermal resources in Southeastern Oregon. Financials of the deal were not disclosed but it includes the rights to build geothermal power plants.
“Working with the University of Utah’s Energy and Geoscience Institute, Raser has determined this area is one of the more significantly promising geothermal systems,” stated Brent M. Cook, CEO of Raser. “We believe this is a vast resource area of mid temperature binary potential.”
“Well logs of drilling in the area over the last few decades in combination with our work done during the past 13 months in this area reveals heat and flows of geothermal fluids indicating that this is potentially a significant resource for geothermal development,” stated Richard Clayton, Raser’s Executive Vice President. “The land is ideally located in southern Oregon so that the power generated from the resource can be sold into either the Oregon or California renewable energy markets.”
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