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 Earth's Potential Erdwarme Grunawald 61 Million Euro Geothermal Breakthrough By: Robert Buluma In a thrilling development for renewable energy enthusiasts, Erdwarme Grunawald has secured a monumental 61 million euros in federal funding for their latest geothermal drilling project at Laufzorn II. This infusion of capital marks a significant milestone in the quest for sustainable, CO2-free energy and underscores the potential of geothermal resources hidden beneath our feet. A Vision for the Future Laufzorn II is not just another drilling project; it's a testament to the visionary leadership of Erdwarme Grunawald and their commitment to a greener future. With a total investment of around 153 million euros, this initiative aims to drill a second deep borehole that will substantially expand the local geothermal energy supply. "We are investing in the future of our energy infrastructure," says Andreas Lederle, Managing Director of Erdwarme Grunawald . ...