US Geothermal has taken an ownership interest in Oregon’s Neal Hot Springs project from GCO Minerals and a private estate. Here are some details.
A 25% mineral interest, which encompasses 600 acres, was purchased from a private estate. An option to purchase an additional 25% interest in 2,110 acres was executed with GCO Minerals Company, a subsidiary of International Paper. The two mineral interest acquisitions in part overlie each other, and when combined provide USG Oregon with 600 acres of 50% mineral ownership and 1,510 acres of 25% mineral ownership in the heart of the defined Neal Hot Springs geothermal reservoir. This acreage includes the two existing production wells, and all of the currently planned new production and injection wells for the 22 megawatt development.