Geothermal ‘Wildcatter’ To Tap Texas Coast
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 20,000 MW of potential power in the offshore area along the Gulf Coast, he says. “This is applied engineering; this is not research,” he insists. He is qualifying contractors and suppliers for the project and must get permits from the state.