Paratus Secures Significant Payments from Mexican Client
HAMILTON, Bermuda – Paratus Energy Services Ltd. (ticker "PLSV") has successfully received a payment of around USD 38 million, which contributes to settling overdue invoices with its client based in Mexico. This amount marks the second payment from a fund initiated by the Mexican government aimed at supporting investments and ensuring timely payments. To date, Paratus has accumulated a total of approximately USD 309 million in collections throughout the year.
Commitment to Financial Recovery and Stability
The management team at Paratus is dedicated to actively working on recovering all outstanding receivables. The company has a history of consistency in pursuing its collection efforts and is focused on securing the full amounts that are due. Despite fluctuations in the timing of these collections, recent payments and ongoing support from the government have instilled confidence that the payment cycle is stabilizing.
Looking Forward: Managing Client Payments Effectively
With these positive developments, Paratus believes that future payments from this Mexican client will now be treated as part of the ordinary course of business. This perspective indicates that the company does not foresee the need to issue separate market updates regarding these payments, choosing instead to incorporate such information within its standard quarterly results announcements.
Company Overview and Additional Information
For further insights into the company and its future prospects, inquiries can be directed to:
Robert Jensen, CEO
+47 958 26 729
Baton Haxhimehmedi, CFO
+47 406 39 083
About Paratus: Paratus Energy Services Ltd. (ticker: PLSV) operates as a holding company for leading energy service firms. The company is primarily known for its ownership of Fontis Energy and a joint venture in Seagems. Fontis Energy provides offshore drilling services and manages a fleet of five advanced jack-up rigs in Mexico. Meanwhile, Seagems offers subsea services and operates six multi-purpose pipe-laying support vessels in Brazil.
Frequently Asked Questions
What is the recent payment amount received by Paratus Energy Services?
Paratus has received approximately USD 38 million towards overdue invoices from its Mexican client.
How much has Paratus collected in 2025?
In total, Paratus has collected about USD 309 million in payments so far in 2025.
What is the significance of the support from the Mexican government?
The support provided by the Mexican government is crucial as it helps ensure timely payments to suppliers, thereby facilitating the financial recovery of Paratus.
What is the focus of Paratus moving forward?
Paratus aims to continue its efforts in recovering remaining outstanding receivables and is confident in normalizing its payment cycle.
What kind of services does Paratus Energy Services offer?
Paratus primarily focuses on energy services, especially offshore drilling and subsea services, through its subsidiaries.
