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...
Unraveling the Mysteries of Geological Reservoirs: PhD Opportunity at the University of Groningen and TuDelft (Civil Engineering and Geosciences) By: Robert Buluma Are you passionate about delving into the complexities of geological reservoirs? Do you have a knack for interdisciplinary research that bridges geoscience with societal impact considerations? If so, the University of Groningen and Tudelft has an exciting opportunity for you! Background Geological reservoirs, vital for energy production and storage, pose a challenge due to their inherent heterogeneity. The University of Groningen is at the forefront of tackling this challenge through the CrossScale project. This project, part of the DeepNL programme funded by the Dutch Research Council, aims to develop a groundbreaking methodology for better reservoir modeling. By understanding and quantifying geological heterogeneities, we can enhance the safety and sustainability of future geoenergy projects. Project Description We are...