MB Century sells Rig 32 to Webster Energy Services: what the move means for New Zealand geothermal drilling MB Century and Webster Energy Services have agreed the sale of MB Century’s Drillmec HH350 drilling rig, Rig 32, with completion slated for December 2026 after the rig finishes its current campaign for Tūaropaki Power Company. The transaction signals a strategic shift for MB Century,moving away from direct drilling ownership toward concentrating on engineering, reservoir and technical services,while Webster Energy uses the acquisition to deepen its footprint in the New Zealand geothermal market. This article summarises the deal, then drills into the operational, market and workforce implications for New Zealand’s geothermal sector, the strategic logic for both companies, and what the transaction suggests about capacity, competition and future drilling trends. Deal overview and timeline Parties: MB Century (seller) and Webster Energy Services (buyer). - Asset: Drillmec HH350 rig k...
DEEP Earth Energy Production Corp. Takes the Plunge into Construction of Pioneering Geothermal Power Project
After years of intensive exploration and meticulous planning, DEEP Earth Energy Production Corp. has finally given the green light to the construction of its historic first geothermal power project. This visionary initiative promises to deliver carbon-free, baseload power generation that harnesses the heat of the earth's core.
The company has announced that it has finalized its strategy for the development, construction, and commissioning of its first geothermal project in southeast Saskatchewan. The engineering and procurement phase is already underway, and field construction is scheduled to commence in the third quarter of 2023.
"Geothermal power generation has the potential to provide a constant supply of clean and renewable energy, and the DEEP project in Saskatchewan will be the first Canadian facility to source 100% of its energy from geothermal resources," the company stated in a press release.
DEEP has determined that the characteristics of the reservoir allow for the expansion of multiple geothermal facilities in southeast Saskatchewan in the coming years. The company expressed gratitude for the support from Natural Resources Canada, SaskPower, and private partners as it embarks on the journey to convert its geothermal resources into renewable energy.
"We are ready to go," said DEEP CEO, Kirsten Marcia. "The demand for sustainable and renewable energy projects is high, and the technology is proven. We have secured the leases, government funding, and are poised to move forward with the construction phase."
DEEP will construct a 25 megawatt power facility in southeast Saskatchewan, including a 5 MW power purchase agreement with SaskPower. The facility will be developed in two phases, with the first phase consisting of 5 megawatts and the second phase adding 20 megawatts to the same location. The production and injection wells will be drilled to a depth of approximately 3.5 kilometers and horizontally for another 3 kilometers.
According to Marcia, the underground wells will span 6 kilometers east to west, and eventually 10 kilometers north to south when the later phases are completed. The surface facility will be located north of the primary test wells and will be connected to the wells via underground pipelines. Drilling is expected to begin in September and will likely require one drilling rig. The long-lead items, such as specialized casing, tubing, and heat recovery surface hardware, will be ordered in March. Licensing and permitting for all well and surface facilities are expected to commence in the first quarter of 2023.
"Our construction will be completed by mid-2024," said Marcia. "We have already completed the time-consuming tasks of drilling and testing the reservoir. The next phase of drilling and simple Organic Rankine Cycle power generation is much quicker and straightforward, thanks to our newfound understanding of geothermal projects and their construction.
source: (DEEP Earth Energy Production Corp)
#DeepEarth #Geothermal #Estervan
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