Paratus Energy Clears Mexican Regulatory Hurdle for Fontis Sale
The Mexican Competition Authority has greenlit the sale of Fontis’ drilling operations and jack-up fleet to Paratus Energy Services. This regulatory approval removes a significant obstacle for the Bermuda-based firm, which originally announced the divestment of its high-specification offshore drilling assets in Mexico back in March 2026.
Following the board of commissioners' decision, the transaction is now positioned to move toward final closure. Paratus Energy confirmed that the deal remains subject to customary closing conditions and final procedural steps. The company anticipates finalizing the transfer of the five-rig fleet during the third quarter of 2026.
This sale represents a strategic shift for the Oslo-listed holding company. While Fontis Energy currently operates the jack-up fleet in Mexico, the broader Paratus Group retains its 50/50 joint venture interest in Seagems, which manages a fleet of six multi-purpose pipe-laying support vessels based in Brazil. Interim CEO and CFO Baton Haxhimehmedi will oversee the final transition phase as the company moves to offload the drilling business.
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