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...
Alaska’s Ambitious Step into Geothermal Energy: Augustine Volcano Lease Sale in Focus By: Robert Buluma Image credit: Bain Graham Nestled in the heart of southern Cook Inlet, the imposing Augustine Volcano stands as both a challenge and an opportunity. Rising 4,133 feet, this cone-shaped volcanic island has piqued the interest of geothermal enthusiasts, policymakers, and energy companies alike. In an exciting development, Alaska’s Division of Oil and Gas is preparing for a geothermal lease sale on Augustine’s north side—a bold move to harness the earth’s untapped power. This initiative, sparked by interest from three companies eager to explore geothermal resources, could mark a turning point in Alaska's energy landscape. With a best interest finding issued on January 10, 2025, state officials have paved the way for what could become a groundbreaking exploration effort. As spokesperson Sean Clifton hinted, a lease sale announcement may arrive as early as this spring, opening up 55,7...