Borr JV clears hurdle to acquire five Fontis jackups

Paratus Energy received clearance from the board of commissioners of the Mexican Competition Authority to proceed with the sale of its indirect subsidiary Fontis’ drilling operations and jack-up fleet.

The transaction will see CME acquire Fontis’ Mexican operations for cash consideration, while CME and Borr Drilling, through jointly owned acquisition vehicle BC Ventures, acquire Fontis’ Singaporean rig-owning entities.

The five rigs involved, two Friede & Goldman JU-2000E design units and three LeTourneau Super 116-C design units, are all currently operating in Mexico. Closing remains subject to remaining customary conditions and is expected during Q3 2026.