Paratus Energy Receives Competition Clearance for Fontis Sale
Paratus Energy Services Ltd. has received clearance from the Mexican Competition Authority for the sale of Fontis' drilling operations and jack-up fleet. The transaction is expected to close in Q3 2026.
Paratus Energy Services Ltd. announced on July 17, 2026, that it has secured clearance from the Mexican Competition Authority for the sale of Fontis' drilling operations and jack-up fleet. The completion of this transaction is contingent upon the satisfaction of remaining customary conditions and is anticipated to occur during the third quarter of 2026.
The deal, initially announced on March 23, 2026, pertains to Fontis Energy's fleet of five high-specification jack-up rigs operating in Mexico. Fontis Energy is a subsidiary within the Paratus Energy Services group, which is an investment holding company for energy services firms.
Paratus Energy Services, listed on the Oslo Stock Exchange under the ticker PLSV, also holds a 50% joint venture interest in Seagems, a subsea services company with six multi-purpose pipe-laying support vessels operating in Brazil. The clearance from the Mexican authorities is a key step toward finalizing the sale.
The company stated it would provide further updates as appropriate regarding the progress of the transaction.