A winning US racehorse has been stolen and butchered for meat in Peru.

Local reports say racehorse Drilling For Oil, was taken from a field at his owners stud near Lima in the early hours of Tuesday (4 August).

The six-year-old had previously won races in the US — including the Grade 3 Louisville Handicap at Churchill Downs — but had been recently retired to stud in Peru.

A son of Giants Causeway, Drilling For Oil won nearly $300,000 in prize money during his career.

Local authorities believe he was stolen for meat, which would have been sold as on as beef.

The horse’s head, feet, tail and bones were found two miles away from his Israeli owner Hiad Hamide’s stud.

Local reports say thieves let loose other horses to distract guards, before taking Drilling For Oil to sell his meat by the kilo.

Just a couple of weeks ago two stallions at another studfarm in Peru were found beheaded.