Ormat Technologies (ORA) was granted an 11,000 acre geothermal lease off the coast of Texas. This is significant in it represents the first such lease in Texas, home of petroleum.

One has to wonder about the feasibility of tapping into such a resource in that area. By all indications it is a DEEP resource we’re talking about that will be technically difficult to tap – think ocean drilling rig expensive. We’ll watch development of this resource with interest. Thanks to Jim for passing this along yesterday.


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This entry was posted on Thursday, February 8th, 2007 at 8:10 am and is filed under Geothermal.