Paratus Energy Services has received notice from a customer that the contracts for two drilling rigs have been terminated early. The rigs, Courageous and Intrepid, were operating under long-term agreements with Mexican giant Pemex
The reasons for the early terminations are due to unsatisfactory terms of the contracts, such as limited work stoppage options and unfavorable pricing structures, as well as economic factors. However, the customer did not disclose that this was due to a decrease in demand for the drilling rigs
The contracts for these rigs will now end in February 2026.
