ThermaSource Buys Tecton Geologic

ThermaSource, a Santa Rosa, Calif.-based provider of drilling, engineering and consulting services to the geothermal energy sector, has acquired Tecton Geologic, a Windsor, Calif.-based geothermal well logging company. No financial terms were disclosed. ThermaSource has raised $93 million in private equity in debt, from firms like Rustic Canyon Partners, Riverstone Holdings and US Renewables Group.

PRESS RELEASE

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™, 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.