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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Northwest storms subside, but mudslide risks remain ... Oregon looks to go back to running own health insurance exchange ... Central Point teacher pleads not guilty to sex abuse ... Northwest storms subside, but mudslide risks remain ... Oregon looks to go back to running own health insurance exchange ... Central Point teacher pleads not guilty to sex abuse ... ENERGY Klamath area geothermal company files bankruptcy Comment By Klamath Falls Herald & News MailTribune.com By Klamath Falls Herald & News Posted Nov. 30, 2015 at 12:30 PM By Klamath Falls Herald & News Posted Nov. 30, 2015 at 12:30 PM » Social News " Geothermal company Klamath Basin Geopower has filed for Chapter 7 bankruptcy after building wells in the Olene area in recent years. According to court records filed Tuesday in federal court in Reno, Nev., the company owes between $10 million and $50 million to its creditors. It must liquidate to satisfy those debts. The company currently has between $1 million and $10 million in assets said it does not anticipate being able to pay unsecured debts. In the filing, 27 creditors were listed including parent company Optim Inc., the Internal Revenue Service and the Nevada Department of Taxation, as well as a number of private parties. A meeting of creditors has been scheduled for Jan. 7, 2016, while court filings are due by Dec. 8. Klamath Basin Geopower began drilling wells in Olene in 2012 after incorporating in 2009. By the beginning of this year, two wells were active and operating above expectations, according to President and CEO Bill Honjas. Olene is about 10 miles southeast of Klamath Falls, on Highway 140. Honjas said the company was in the process of selling the power to customers, but said in January he could not discuss details of potential power sales. Neither Klamath Basin Geopower’s Reno headquarters nor Klamath Falls field office could be reached for comment. Local geothermal company Klamath Basin Geopower has filed for Chapter 7 bankruptcy after building wells in the Olene area in recent years. According to court records filed Tuesday in federal court in Reno, Nev., the company owes between $10 million and $50 million to its creditors. It must liquidate to satisfy those debts. The company currently has between $1 million and $10 million in assets said it does not anticipate being able to pay unsecured debts. a.trim ()}:function(a){return a.replace (/^[sxa0]+|[sxa0]+$/g,"")},g=function(a,b){return a<b?-1:a>b?1:0};var h;a:{var p=d.navigator;if(p){var q=p.userAgent;if(q){h=q;break a}}h=""}var r=function(a){return-1!=h.indexOf(a)};var t=r("Opera")||r("OPR"),u=r("Trident")||r("MSIE"),v=r("Edge"),w=r("Gecko")&&!(-1!=h.toLowerCase().indexOf("webkit")&&!r("Edge"))&&!(r("Trident")||r("MSIE"))&&!r("Edge"),x=-1!=h.toLowerCase().indexOf("webkit")&&!r("Edge"),y=function(){var a=h;if(w)return/rv:([^);]+)()|;)/.exec(a);if(v)return/Edge/([d.]+)/.exec(a);if(u)return/b( By Klamath Falls Herald & News MailTribune.com By Klamath Falls Herald & News Posted Nov. 30, 2015 at 12:30 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501