GEOS’ Energy Paradise PSV to Stay with Peterson into 2027

Energy Paradise PSV (Credit: GEOS)

Golden Energy Offshore Services (GEOS) said Peterson has exercised a further well option for the platform supply vessel (PSV) Energy Paradise, extending its firm employment into early 2027.

The option has an anticipated duration of about 100 days and an estimated contract value of $3.4 million.

Energy Paradise is currently working under an existing well program expected to finish around mid-October 2026. The new option will start immediately afterwards, securing firm employment for the vessel until around the end of January or early February 2027.

Peterson retains one additional well option with an estimated potential contract value of about $2.5 million.

Together with the previously announced term contract for Energy Pace, the firm contracts for Energy Paradise and Energy Pace represent a combined estimated value of about $10.3 million.

If all remaining options under both contracts are exercised, the estimated combined contract value would rise to about $19.8 million.