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...
Exploring a Greener Future: CU Boulder and Eavor Technologies Partner for Geothermal Energy Breakthrough
Boulder, CO - — In a pioneering move towards sustainable energy, the University of Colorado Boulder (CU Boulder) has been awarded nearly $700,000 through the Colorado Energy Office's Geothermal Energy Grant Program (GEGP).
This funding, announced by Governor Jared Polis in Pueblo, will support cutting-edge studies aimed at harnessing geothermal energy to reduce the university’s greenhouse gas emissions and energy costs.
Eavor Technologies, a trailblazer in geothermal technology, joins CU Boulder in this ambitious endeavor. Their collaboration aims to explore the potential of geothermal energy to slash the university’s Scope 1 and 2 GHG emissions while providing a reliable, renewable energy source.
"We are excited to contribute our expertise on geothermal to CU Boulder’s geothermal studies," said Jeanine Vany, Eavor co-founder and executive vice president of corporate affairs. "This partnership offers a significant opportunity to demonstrate the potential of Eavor’s geothermal solutions in reducing emissions and advancing 24/7 renewable energy development."
CU Boulder has set an ambitious goal: a 50% reduction in emissions by 2030, aiming for zero emissions by 2050. The studies funded by the state will play a crucial role in achieving these targets, advancing the university's energy and climate action goals for the benefit of students, faculty, staff, and the broader community.
"Geothermal energy has tremendous growth potential for application in the United States," said CU Boulder Chancellor Philip DiStefano. "We are grateful for this funding that will help us explore both geo-exchange and geothermal resources for our campus."
Eavor Technologies: Pioneering Geothermal Solutions
Eavor Technologies (pronounced “Ever”) is revolutionizing the energy sector with its Eavor-Loop™ technology—the world's first scalable, clean, and flexible form of baseload power. Unlike traditional geothermal systems, Eavor's closed-loop system circulates a benign working fluid through a massive subsurface radiator, harnessing the Earth’s natural heat via conduction.
Backed by major global investors and energy producers, Eavor’s innovative approach aims to overcome the challenges traditionally associated with geothermal energy, offering a viable solution for communities worldwide.
A Path to a Sustainable Future
The partnership between CU Boulder and Eavor Technologies is a significant step towards a sustainable energy future. By leveraging state-of-the-art geothermal technology, this initiative not only aims to reduce emissions on campus but also sets a precedent for scalable geothermal solutions across the globe.
Recently the Geothermal Market has felt like this is its year as Eavor and other companies shrewed from oil and gas are banking into Geothermal
As we look to the future, the CU Boulder and Eavor Technologies collaboration serves as a beacon of innovation and sustainability, demonstrating the transformative potential of geothermal energy in addressing our global climate challenges.
Source:Eavor
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