US Geothermal drills last large-diametre well at 23 MW Neal Hot Springs project

(ADPnews) - Nov 4, 2010 - American firm US Geothermal Inc (TSE:GTH) today said it drilled and tested the fourth and last large-diametre well -- NHS-2 -- for the 23 MW geothermal plant at Neal Hot Springs in Oregon, USA.

The company already completed drilling and testing of the other three large-diameter wells -- NHS-1, NHS-5 and NHS-8.

"All four of these production wells came in under budget", US Geothermal president and CEO Daniel Kunz said. Now, the company will reduce the total cost of the project -- USD 124.3 million (EUR 88m) -- by drilling smaller diameter injection wells, Kunz added.

US Geothermal is operating geothermal projects at Raft River, Idaho and San Emidio, Nevada. The Neal Hot Springs project will be the company's third operating power project.

(USD 1 = EUR 0.708)

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