MB Century and Webster Energy Services announce next chapter for Rig 32
MB Century and Webster Energy Services have announced an agreement for the sale of MB Century’s Drillmec HH350 drilling rig, Rig 32, with the transaction expected to be finalised in December 2026 after completion of the current Tūaropaki Power Company drilling campaign.
The agreement marks an important next step for both businesses. For MB Century, the sale supports its broader strategic direction, enabling greater focus and investment on growing its engineering and technical services in New Zealand and offshore. For Webster Energy Services, the acquisition provides an opportunity to further grow its presence in the New Zealand geothermal market and build on its longstanding drilling expertise.
MB Century’s next stage of growth
Drilling has been part of MB Century’s story from the beginning, with Rig 32 playing an important role in New Zealand’s geothermal industry. The company is proud of the people who have operated, maintained and supported the rig over the years, building significant experience, expertise and relationships along the way.
The transition of Rig 32 ownership reflects MB Century’s long-term strategic direction and enables the company to focus investment and capability on the markets and services where it sees the strongest opportunities for growth.
MB Century’s strategy is centred on three priorities:
Solidify – partner with our customers and be a key part of their success.
Strengthen – invest in our people, capabilities and specialist services.
Scale – build on those strengths to pursue growth in the markets where we see the best opportunities.
Alan Stewart, Chief Executive of MB Century, said:
“Drilling is a really important part of MB Century’s history, and Rig 32 has been a big part of that story. We’re incredibly proud of what the rig and our people have delivered over the years and the contribution they’ve made to the geothermal industry.
“MB Century has evolved, and we need to make sure our focus and investment evolve with it. We now have a much broader engineering and technical services business, and this decision gives us the opportunity to put more focus behind those capabilities and the opportunities ahead.
“Geothermal is integral to who we are at MB Century. We have 75 years of unrivalled experience in the sector, and we’re building on that foundation as we bring our deep industry knowledge, relationships and technical capability into the next stage of our growth.”
MB Century will continue to be 100% owned by Tūaropaki Trust and deliver engineering, reservoir services, mechanical services, fabrication, machining, industrial coatings and project delivery across geothermal, hydro, dairy, water and other infrastructure markets in New Zealand and internationally.
A new opportunity for Webster Energy Services
For Webster Energy Services, the acquisition builds on more than 40 years of drilling experience across geothermal, petroleum, scientific and specialist drilling.
Webster intends to keep Rig 32 working in the New Zealand geothermal market and has begun engaging with the current Rig 32 crew, with the aim of retaining the experience and capability behind the rig’s operations.
The acquisition also creates opportunities for Webster’s people to broaden their experience across geothermal, petroleum and other specialist drilling disciplines.
Luke Goodwin, General Manager, Webster Energy Services, said:
“For Webster, Rig 32 is a great opportunity to grow our presence in geothermal and build on the experience we already have across energy and specialist drilling.
“We’ve got a long history in drilling, and geothermal is an area where we see real opportunity. Rig 32 gives us a strong platform to build on that experience and grow our capability in the New Zealand market.
“We’re also excited about what this can mean for our people, giving our teams the opportunity to work across geothermal, petroleum and other specialist drilling disciplines and broaden their experience and develop skills that benefit them, our business and ultimately our clients.”
A smooth transition
Both businesses are committed to ensuring a smooth transition, with Rig 32 continuing its current campaign before ownership transfers to Webster Energy Services.
For MB Century customers and partners, the change in ownership does not affect the company’s broader engineering and technical services offering or its commitment to the sectors and customers it serves.
Alan Stewart said:
“Our focus is on ensuring a smooth transition while continuing to support our customers and partners. For MB Century, it’s business as usual across our broader engineering and technical services offering, with our commitment to our customers and the sectors we serve unchanged.”
Luke Goodwin said:
“Rig 32 has a fantastic reputation in the industry for delivering safe, reliable and high-quality drilling services and personnel to its clients operations. We recognise the experience behind that reputation and are committed to building on it as Rig 32 enters its next chapter with Webster.”
Ends
Media enquiries
Fiona Schaeffer
Communications & Engagement Lead
fschaeffer@mbcentury.com