Paratus Energy completes sale of Fontis drilling operations

Paratus Energy Services Ltd., based in Bermuda, has announced the finalization of the sale of Fontis' drilling operations and its fleet of jack-up rigs. The company referenced its prior announcements from March 23, 2026, detailing the initial agreement for the transaction, and a subsequent update from July 17, 2026.

Specific financial details of the sale, including the purchase price and the identity of the buyer, have not been disclosed by Paratus Energy. The transaction specifically targets the operational aspects related to drilling and the company's owned jack-up vessels, indicating a strategic realignment for Paratus.

This divestment forms part of a larger strategic review by Paratus Energy, aimed at streamlining its business portfolio and potentially reallocating capital. The sale of drilling operations and associated assets suggests a move towards focusing on core or potentially more profitable segments within the energy services sector.

Paratus Energy Services Ltd. is listed on the Oslo Stock Exchange under the ticker symbol PLSV. Further communications are expected to outline the company's future strategic direction and its plans following this asset disposal.