Announces Exercise of Well Option for Energy Paradise
Ålesund, 10 September 2026
Golden Energy Offshore Services ASA (“GEOS” or the “Company”) is pleased to announce that Peterson has exercised a further well option for the PSV Energy Paradise.
The vessel is currently operating under the existing well program, which is expected to be completed around mid-October 2026. The newly exercised option will commence immediately in direct continuation thereafter and has an anticipated duration of approximately 100 days, representing an estimated contract value of approximately USD 3.4 million.
The option exercise secures firm employment for Energy Paradise until approximately the end of January or early February 2027. Charterers retains one additional well option, with an estimated potential contract value of approximately USD 2.5 million.
With reference to the Company’s announcement dated 29 July 2026 regarding the term contract for Energy Pace, the firm contracts announced for Energy Pace and Energy Paradise represent a combined estimated contract value of approximately USD 10.3 million.
If all remaining options under both contracts are exercised, the total estimated contract value for the two vessels would increase to approximately USD 19.8 million.
Chartering Update – August 2026
During August 2026, the GEOS fleet achieved an average TCE of USD 21,024 per day and fleet utilization of 93.7%.
All USD amounts are approximate and based on prevailing exchange rates.
For further information, please contact:
Per Ivar Fagervoll CEO
Email: pif@geoff.no
Phone: +47 974 28 884