Transformative fleet acquisition and exercise of warrants
Golden Energy Offshore Services AS (“GEOS” or the “Company”) is pleased to announce that it has today entered into binding Memorandum of Agreements for the acquisition of 4 x PSVs and 1 x SSV from subsidiaries of Vroon Holding B.V. (the “Seller”), for a total consideration of USD 94 million (the “Fleet Acquisition”).
Strategic rationale and highlights
The Fleet Acquisition ensures considerable accretive growth of the Company’s fleet of offshore supply vessels, greatly increasing the Company’s ability to seize market opportunities within the oil and gas and offshore wind sectors going forward.
- The 4 x PSVs are of the same PX 121 design as GEOS’ existing fully-owned vessels Energy Duchess and Energy Empress, providing flexibility in chartering as well as OPEX savings
- The SSV VOS Sugar is a versatile multi-purpose commissioning support vessel. With SPS class for 40 persons, capacity for a walk-to-work gangway and a small crane it has been used in both the oil & gas and offshore wind markets
- All of the Company’s PX 121 vessels are large PSVs providing supply services to the oil & gas market but may also be outfitted with accommodation units and gangways to opportunistically serve the offshore wind market
- All five vessels acquired are built in 2015 and 2016, lowering GEOS’ average fleet age to 7.9 years
- The Fleet Acquisition is expected to close around end September 2023 and a deposit of USD 9.4 million (the “Deposit”) will be paid to the Seller in early August.