Hunter Valley Hot Rocks project officially scrapped
GeoDynamics have confirmed that they have no plans for exploration drilling in their Hunter Valley permits in the near future. They have two geothermal exploration licenses in the Hunter Valley, known as Bulga and Muswellbrook.
In preparation for possible future exploration drilling in the Hunter Valley, an independent seismic risk assessment was completed in 2012. The study concluded that the risks of significant seismic events resulting from hydraulic stimulation are extremely low. However as market conditions of the renewables sector has dropped the project has been scrapped. Four wells in the Hunter Valley have been remediated and once its obligations are met, GeoDynamics will hand back its licences to the New South Wales Department of Resources Energy and Mining.