Arena Energy Deploys WFD 450 Rig to Tap Deep Gulf Shelf Reserves

Originally built in 1999 and formerly operated by Valaris, the rig spent seven years cold-stacked before White Fleet Drilling purchased and overhauled the unit. The vessel, which was christened in January 2026, can drill in water depths up to 400 feet and reaches total depths of 30,000 feet. It is currently operating in the Southern Eugene Island area.

Arena Energy CEO Mike Minarovic emphasized that the investment signals a multi-decade strategy rather than a short-term project. The company expects the rig to remain active on the Shelf for the next 15 to 20 years, generating consistent federal royalties. By restoring the ability to drill in deeper water, the project effectively unlocks resources that remained inaccessible due to technical constraints within the existing regional fleet. White Fleet Drilling, which manages a total of three rigs, continues to serve as the primary contractor for these operations.