Geothermal drilling market heats up

As oil prices reach unheard-of highs in the $140/bbl range, energy sources that have historically been considered too expensive to produce economically are getting new leases on life. Many such energy sources, like wind and solar, tend to reside far outside the realm of the oil and gas drilling industry. Geothermal energy, however, stands as one resource that holds potential opportunities for drilling contractors, especially as that industry continues to undergo a significant expansion.

Author: Linda Hsieh, Assistant Managing Editor: Drilling Contractor
International Association of Drilling Contractors (IADC)
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ThermaSource LLC, Acquires Tecton Geologic

SANTA ROSA, Calif., Sep 09, 2008 (BUSINESS WIRE) — ThermaSource, LLC, is pleased to report the acquisition of Tecton Geologic, a Windsor, CA, based geothermal well logging company. Tecton Geologic, LLC provides on-site rig monitoring and mud logging for the geothermal drilling industry. Tecton provides additional services, such as hydrogen sulfide detection, and abatement providing a safe drilling environment. Tecton’s networked data acquisition system, TopHand(TM), is able to measure a wide range of in-hole variables, providing an up-to-date view of the well. Alan Frazer will continue as president of Tecton.

Alan stated, “With the acquisition by ThermaSource Tecton will have the ability to add more capacity to meet the increasing demand for mud logging services.” ThermaSource, LLC provides expertise to geothermal developers interested in the discovery and development of geothermal resources for power generation and direct use applications. ThermaSource, LLC services include resource assessment, geological exploration, drill rigs with experienced crews, drilling fluids, cementing solutions and now, geothermal well logging. “The acquisition of Tecton Geologic solidifies our business strategy as the exclusive, preferred turn-key service operator in the geothermal industry,” said Louis E. Capuano, Jr., President and CEO of ThermaSource, LLC. For more information about ThermaSource, visit www.thermasource.com.

Author: ThermaSource, originally sent through Business Wire here.