Paratus Energy Services Ltd Announces Trading Update for First Quarter 2022 and Other Updates
Hamilton, Bermuda, July 29, 2022 - Paratus Energy Services Ltd. (“Paratus” or the “Company”) today announced a trading update for the first quarter 2022 and updates on Paratus, its subsidiaries, and associated companies (“Paratus Group”). 1. Key Financial Highlights 1.1 Paratus In the first quarter ending March 31, 2022, Paratus generated $54 million in revenue and $29 million in EBITDA[1]. As a result of the pre-packaged Chapter 11 restructuring on January 20, 2022, comparisons of revenue and EBITDA to the preceding quarter are not meaningful. 1.2 SeaMex Group During