A self-described “geothermal wildcatter” from Oregon intends to use a waste byproduct of oil and gas production to generate electricity along the Texas coast. Geo Texas Co., a Eugene, Ore.-based startup company led by geothermal pioneer Steve Munson, will pay Texas $386,000 a year for leases up to 30 years on 128,758 acres of state land off the coasts of Brazoria and Matagorda counties, near Galveston, to produce geothermal energy. The company will pay more if it produces energy. Munson plans to build a 20-MW, $50-million demonstration plant on land within two to three years. Research has uncovered an estimated
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.