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...
The Future of Geothermal Energy: Unlocking the Potential of Supercritical Geothermal Resources By: Robert Buluma In the deep underbelly of the Earth, where the heat is nearly unbearable, lies a force so powerful it could reshape our energy landscape forever. This is the story of supercritical geothermal resources—a frontier so ambitious, so untapped, that it promises not just to meet, but to exceed, our wildest dreams for sustainable energy. The Hidden Power Beneath Our Feet Imagine drilling into the Earth's crust, past boiling reservoirs and molten rock, into a realm where temperatures and pressures reach a critical point, transforming water into a supercritical fluid. Neither liquid nor gas, this supercritical fluid holds the potential to produce ten times more energy than conventional geothermal sources. It’s a resource that could power cities, industries, and entire nations with clean, renewable energy. But this isn't just a tale of boundless potential—it's a journey f...