With the Mexican regulator’s approval secured, Paratus Energy now turns toward finalizing the remaining customary conditions. Leadership expects the deal to reach completion during the third quarter of 2026. This divestment represents a strategic shift for the group, which holds a portfolio spanning offshore drilling in Mexico and a 50/50 joint venture interest in Seagems, a subsea services firm operating in Brazil.
In section Releases
Paratus Energy Clears Regulatory Hurdle for Fontis Divestment
The Mexican Competition Authority has granted regulatory clearance for the sale of Fontis Energy’s drilling operations and jack-up fleet, marking a pivotal step for Bermuda-based Paratus Energy Services. The transaction, initially announced in March, moves the company closer to shedding its offshore drilling assets in the region.
Paratus continues to manage its five high-specification jack-up rigs under the Fontis banner while the transition process unfolds. Interim CEO and CFO Baton Haxhimehmedi will oversee the final closing stages as the company prepares to provide further updates to its stakeholders regarding the transition timeline.
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