Harness the Power of Conventional Hydrothermal Geothermal Energy Today!
Geothermal Resources LLC uses proven technology to produce commercial electricity.
About Geothermal Resources LLC
Executive Summary
Geothermal Resources LLC is developing “Green” Baseload Electrical Power Plants using Conventional Hydrothermal Geothermal Resources
- Use Proven Technology: Geothermal Resources LLC (GRC) plans to use proven technology to develop conventional hydrothermal geothermal energy resources to run 20-megawatt (MW) or greater Organic Rankin Cycle (ORC) baseload electrical generating power plants. Other proven technologies may also be used to enhance project economics such as generating electricity using Pelton turbines and direct use for agriculture and heating/cooling applications. GRC will use proven oil and gas exploration and development techniques to improve the success rate and economics of its geothermal energy projects. GRC has identified specific prospects along the Texas and Louisiana Gulf Coast area and in northern Nevada. The target reservoirs are all within depths, pressures, and temperatures commonly drilled by oil and gas companies.
- Management Team: The team consists of exploration and development professionals with decades of industry experience. Over the past five years our geoscientists have evaluated hundreds of thousands of acres for geothermal resource potential. GRC’s land, legal and management professionals have negotiated leases and options for the acquisition of selected locations for geothermal energy projects. The ability to negotiate land positions and power purchase agreements (PPAs) is critical to project development.
- Developing Profitable Baseload Power: Baseload power is electricity that is available 24 hours a day, 365 days a year. This is what the electrical power grid was designed for, this is what geothermal power plants provide, and this is what makes geothermal power plants much more valuable than Wind or Solar power plants, which produce electricity intermittently. Our goal is to develop geothermal power to produce electricity at less than $5 million per MW.
- Planned Profitability: Many other Geothermal start-up companies are trying to prove their concepts of unconventional engineered geothermal projects, some of which are “Science Projects” that are not economic. By utilizing current drilling technology and proven power plant design, GRC can develop power plants that quickly generate cash flow and return equity investments within 7-10 years. Each GRC project has a planned operational life of 30 years, yielding 20-25 years of post-payout cash flow. GRC will build scale with an ongoing program of exploration, land acquisition, and project development with an initial goal of 400 MW. With 95% uptime and a sales price of 12 cents per kilowatt-hour, a 20 MW plant will deliver approximately $20 million worth of tax advantaged electricity per year, which is $600 million over 30 years.
- Proposed Individual Project Development: Geothermal Resources LLC seeks investors to finance an initial acquisition and exploration program over a period of three years. Our initial program will entail the evaluation of at least 5 geothermal prospects as part of an ongoing lease acquisition and evaluation strategy. As soon as 5 prospects are evaluated and high-graded with geological and geophysical field work, sites will be selected for development at a total estimated cost of about $5 million per MW. Historically 1/3 of this cost would be equity and 2/3 would be financed. That is our planned approach. Geothermal power plants are designed with an initial productive life of 30 years, but many are still in operation after 50 years. Depending on the terms of the PPA, project payout is typically 7-10 years. We plan to market our “green” power to microgrids associated with industrial developments and hyper scale data centers. If feasible, GRC will joint venture with the end user.
- Note: This Executive Summary is for information purposes only. It is not a solicitation or offering of securities.
Geothermal Resources LL Management
Robert A. "Bob" Wiener, Manager
Bob began his career as a new venturers oil and gas exploration geophysicist for Cities Service Company. He has a degree in Geology from the University of Rhode Island and is a highly trained and experienced geologist/geophysicist with a long history of working on and creating commercially successful oil and gas prospects. He has held positions at technical, project management, and senior management levels. Now his focus is on geothermal energy; has worked on projects in Nevada, California, and the geopressured geothermal resources of Texas and Louisiana. Bob brings the technical, management, and communication skills needed to manage oil and gas projects and geothermal energy projects.
GEOTHERMAL RESOURCES LLC MAMAGEMENT
Gordon R. Morris, Manager
Gordon is a 45-year veteran natural resources exploration. A 1962 BBA graduate of UT-Austin and a member of the State Bar of Texas since earning his JD from South Texas College of Law in in 1970. In the 1990's he had a private practice of energy law in Houston and focused on oil field contracts, land and industrial real estate transactions, drilling operations, and dispute resolutions. Previously he served for many years as VP in the Exploration & Production division of Coastal Energy managing property acquisitions with a staff of 40 professionals, including 7 lawyers. For 9 years in the 1980's he also served on the Board of Directors of a high growth banking institution. A recipient of the Landman-of-the-Year award, he has been designated a Certified Professional Landman by the AAPL and has represented the over 1000 member Houston Association of Professional Landmen in the national organization. He currently enjoys investment work at his home in the Lubbock, Texas area.
morgrris@geothermalresourcesllc.com
Geothermal Resources LL Management
Steven L. (Steve) Getz, Manager
Steve has a B.S. degree in Geology from the University of New Mexico. Immediately after graduation he worked nine years as a geophysicist for Cities Service Oil Company. He left Cities Service in 1978 to become an oil and gas consultant. From 1983 through 1987, he was an owner/partner of a NASD firm, wherein he held a Series 24 brokerage license. After the stock market collapsed of 1987, he resumed work as an oil and gas consultant until 2005. From 2005 through 2010 he was Chief Geologist for Allen Hoffman Exploration. Upon leaving Allen Hoffman in early 2011, he resumed work as an oil and gas. Starting in 2017 Steven switched his focus from oil and gas exploration and production to geothermal resource exploration and development in the Great Basin rift complex in western United States of America.
