Kickstarting a multi-well drilling campaign for strategic partner, Arena Energy, LLC, White Fleet Drilling, LLC has deployed its newly refurbished WFD 450 jack-up drilling rig, equipped for operations at water depth of 400 ft and a drilling depth capacity of 30,000 ft.

This comes following the rig's refurbishment as part of a comprehensive US$65mn acquisition and upgrade initiative. The repaired asset with modernised specifications stands apart from existing fleets, and perfectly aligns with Arena's ambitions to unlock unexploited proven reserves.

First constructed in 1999 and previously managed by Valaris, the rig had spent seven years cold-stacked in the shallow Gulf waters. White Fleet’s substantial investment to repair and modernize the asset stands as one of the largest offshore rig refurbishments in the region in recent years. Following its christening on January 9, 2026, the rig commenced offshore drilling operations in late March.

Currently operating in the Southern Eugene Island area, the rig is slated for continued drilling across Arena's Gulf leasehold.

“This is what a long-term commitment to American energy looks like,” said Arena Co-Founder and CEO Mike Minarovic. “Nobody invests $65 million in a rig for a single drilling season. The WFD 450 will be drilling wells on the Shelf — and generating significant royalties for the federal treasury — for the next 15 to 20 years.”

Minarovic continued, “We are ‘all in’ on the future of the shallow water Gulf of America. The Shelf still holds vast potential, and the WFD 450 gives Arena the reach to unlock proved reserves that no other rig in the Gulf could access.”

By restoring and expanding offshore production capabilities across the entire depth spectrum of the shallow-water Gulf Shelf, the deployment of the WFD 450 directly reinforces American energy dominance.