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...
Unlocking Renewable Power: Turkan Energy's Venture into Deep Drilling for Geothermal Energy In the heart of innovation and sustainable energy, Turkan Energy has embarked on a groundbreaking journey towards harnessing geothermal power. With a visionary approach and a commitment to environmental stewardship, Turkan Energy has initiated a deep drilling project aimed at tapping into the vast potential of geothermal resources. This ambitious endeavor marks a significant milestone in the quest for renewable energy solutions, promising not only substantial power generation but also a greener, more sustainable future. The project, a 24 MW geothermal power endeavor, holds immense promise for addressing the growing energy needs while reducing reliance on fossil fuels. Geothermal energy, derived from the natural heat of the Earth, offers a clean and renewable alternative to traditional energy sources. Turkan Energy's decision to invest in this venture underscores a dedication to innovatio...