Utah
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The deal comes only weeks after the private equity firm purchased a natural gas-fired plant operator.
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The acquisition underscores the rapid rise of the unconventional oil play in northeastern Utah that producers claim offers better margins than the Permian Basin.
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The oil and gas industry-backed geothermal firm plans to drill up to 29 wells in southwestern Utah that will deliver electricity to the state's grid by 2026.
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A new US government management plan clears the way for oil and gas drilling on land that used to be off limits as part of a sprawling national monument in Utah before President Donald Trump downsized the protected area 2 years ago.
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In the northeastern desert of Utah, a new type of oil sands extraction technology has been born. The company behind it claims the process is the most cost-effective and environmentally sound way to develop oil sands.