Paratus Energy Services Completes $209 Million Payment Collection in Mexico

Paratus Energy Services Ltd. (ticker: "PLSV") has announced a significant financial success through its fully-owned subsidiary, Fontis Holdings Ltd. Recently, the subsidiary completed the collection of approximately $209 million in overdue invoices from a client based in Mexico. This payment was made in accordance with a previously established receivables monetization agreement that was detailed on January 24, 2025. This move is pivotal for Fontis' continued operations in the region, further solidifying the longstanding relationship between Paratus and its Mexican client.

The recent collection marks a crucial milestone for the Paratus Group as it emphasizes the company's successful financial administration. The substantial nature of this payment is especially noteworthy, as it reflects the robust demand for services delivered by Fontis in the offshore drilling sector, further enhancing investor confidence in Paratus' strategic decisions.

Fontis Holdings is known for its five high-specification jack-up rigs, which are currently under contract and operational within the Mexican waters. This specialized fleet not only points to the operational strengths of Fontis but also signifies the importance of the Mexican market to Paratus' overall business strategy.

The leadership at Paratus has reiterated its commitment to maintaining a strong employee and customer-centric working environment, which has been instrumental in cultivating long-term partnerships. The receipt of this payment not only provides immediate liquidity for the company but also affirms a positive outlook for future projects and collaborations in the region.

CEO Robert Jensen expressed his satisfaction with the payment and signaled confidence in further engagements with Mexican companies. He emphasized the company's strategic focus on diversifying its portfolio while enhancing service delivery quality, which is core to its operational philosophy. CFO Baton Haxhimehmedi also highlighted how this financial boost would support existing projects and pave the way for potential future endeavors in other markets.

The $209 million payment included VAT at the Mexican standard rate of 16%. This win is part of a broader context where companies like Paratus are focusing on efficient receivables management to optimize their cash flows and reduce outstanding debts, ensuring sustainable operations.

As global economic dynamics shift and energy demands evolve, Paratus remains positioned as a leading player within the energy services sector. Its successful navigation of critical agreements such as this illustrates the company's adeptness in handling complex financial arrangements, reinforcing its reputation in the market.

About Paratus Energy Services Ltd.

Paratus Energy Services Ltd. is a prominent player in the energy services industry, recognized for its extensive portfolio encompassing various energy solutions. The group not only owns Fontis Energy but also maintains a 50/50 joint venture with Seagems, an established subsea services company. Seagems operates a fleet of six multi-purpose pipe-laying support vessels under contracts based in Brazil.

Moreover, Paratus holds a significant stake in Archer Ltd., a globally acknowledged oil services company listed on the Euronext Oslo Børs. The ongoing developments in its financial strategy underscore Paratus' commitment to drive shareholder value and expand its influence in the energy market.