Criterion Energy Partners today announced a strategic partnership with Chesapeake Energy to advance the company’s plan to deploy and develop technologies for geothermal energy development. The partnership includes an investment by Chesapeake to assist in the planning and preparation for an initial test well, advancing Criterion Energy Partner’s (Criterion EP’s) mission and vision of making geothermal energy commercially viable everywhere. Chesapeake brings extensive experience in subsurface evaluation, drilling and completions, and will have the option to participate in additional future development projects under the terms of the partnership.

Criterion EP recently announced a 10,000-acre lease acquisition near the Department of Energy’s Pleasant Bayou project, which proved feasibility of a large geothermal resource along the Texas Gulf Coast. The company’s acreage position combined with its strategic industry relationships solidifies the prospect of generating utility scale geothermal energy in Texas with the proprietary Criterion Geothermal SystemTM and Industrial DirectConnectTM technologies.

Danny Rehg, Criterion Energy Partners’ Co-Founder and Chief Executive Officer, stated,
“Our partnership with Chesapeake will help unlock geothermal energy technology for new markets and customers that are increasingly demanding always-on renewable energy.”

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