US Geothermal reports increase in revenues and updates on development
Francisco Rojas
15 May 2014
Revenue for the First Quarter of 2014 was $8.50 million, compared to $7.09 million for the prior year period. EBITDA for the First Quarter period was $5.09 million, compared to $4.38 million for the prior year period.
According to the latest information on the Stock House Website, US Geothermal has posted an increase in revenues when compared to the previous period.
From the same source, “We are proud to report that for First Quarter of 2014 our Generation, Revenues, EBITDA, and Net Income were all at the high end of the figures we used to provide our 2014 guidance.” said Dennis Gilles, U.S. Geothermal’s Chief Executive Officer. “Starting the year with an especially strong First Quarter performance, which resulted from higher than planned generation, and lower than planned costs, is a great beginning to what we hope will be an outstanding year. All three facilities are operating with availability percentages in the high 90’s, as we head into our seasonal maintenance outage quarter. Our operating team continues to do an outstanding job of ensuring consistently strong generation from each of our facilities.”
In this same disclosure,
Operations:
- Generated fleet wide total 98,884 megawatt-hours in the First Quarter of 2014, as compared to 85,040 megawatt-hours during the same period in 2013
- Delivered First Quarter average availabilities for each plant as follows: Raft River – 99.5%, San Emidio – 99.6%, Neal Hot Springs – 97.7%
- Completed drilling of 9 temperature gradient wells at the El Ceibillo project in Guatemala
- Applied for drilling permits from the US Bureau of Land Management for development of the San Emidio II project
- Finalized the partnership interest at the Neal Hot Springs project with U.S. Geothermal owning 60% and Enbridge having 40% ownership of the partnership
For the full document, please follow the link bellow.
Source: Stock House Website
