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In October 2023, Hartmann Pelagic announced that Pelagic Partners had acquired a 20% stake in the publicly listed company Golden Energy Offshore Services through its latest round of public placement. Led by Oaktree Capital Management, the company’s largest shareholder, the private placement saw Pelagic Partners acquire 95 million shares, securing a 20% ownership stake to become the company’s second-largest stakeholder. In addition, Pelagic Partners will also have a seat on the board of directors.
Golden Energy Offshore Services is a ship operator and owner that specializes in modern, high-spec offshore service vessels for the international gas and oil industry.Listed on the Oslo Euronext Growth Market and boasting one of the market’s youngest PSV fleets, Golden Energy Offshore Services is an exciting company poised to capitalize on accelerating market growth.
In a press release, Hartmann Pelagic pointed to Golden Energy Offshore Services’ senior leadership team, governance framework, and shareholder composition as reinforcing its confidence in the company and its potential for success.Hartmann Pelagic revealed that its primary goal in acquiring a major stake in the company was to share its expertise and knowledge, contributing to Golden Energy Offshore Services’ future. Acknowledging the underinvestment seen in the general gas and oil market over the past five to seven years, Hartmann Pelagic has strategically focused on modern eco-friendly vessels, recognizing that these will be sought after in the future.
Executed via the Pelagic Yield Fund compartment, the investment will add further diversity to Hartmann Pelagic’sinvestment portfolio and shows significant annual yields potential.
About Golden Energy Offshore Services
In recent years, Golden Energy Offshore has expanded significantly. The company has grown from a two-vessel operation in 2007 to owning and operating seven vessels under the Golden Energy Offshore Services trading name. With an average age of eight years, the company’s fleet includes modern and sophisticated large supply vessels of PX121H and ST216L design.
Golden Energy Offshore Services’ strategy is to deliver high-quality services in accordance with customer demands while actively developing services in close co-operation with both existing and new customers. The company works closely with equipment providers to develop, test and implement pilot projects with a focus on emission reduction, achieved measurable carbon reduction in operations and energy efficiency. Wherever possible, Golden Energy Offshore Services seeks to achieve cost-effective operations as well as an optimal return for investors.
Golden Energy Offshore Services’ overarching goal is to be a visible and significant global offshore service provider developing a presence within the offshore services vessel and PSV market. The company seeks to expand its reach both within new market segments and geographically, establishing international partnerships and joint ventures. In addition, Golden Energy Offshore Services also seeks to become the preferred supplier of marine services to companies operating in the oil and gas industry and the renewable offshore industry. Golden Energy Offshore Services is a reliable and predictable operator and owner of offshore service vessels, providing clients with transparency and fully controlled cost calculations.
Created with a keen focus on quality, the environment, and health and safety in all aspects of the services it provides, Golden Energy Offshore Services is committed to maintaining a zero-accident standard, providing a safe, reliable, and predictable working environment for all of its employees and offshore service suppliers. In addition, Golden Energy Offshore Services strives to offer every member of staff clearly defined, high developing, and motivating working tasks.
With a history spanning more than 95 years, Golden Energy Offshore Services reviews and improves its systems and routines on a daily basis. The company is proud of its safety statistics, which not only meet its internal goalsbut rank among the best in its segment of the industry. Golden Energy Offshore Services operates a strident and robust safety and quality management system, helping the company to maintain its position as a preferred supplier of offshore services to the oil and gas renewable industry based on reliability and quality.
About Hartmann Pelagic
Hartmann Pelagic is redefining maritime investments, managing ship-owning funds with investments in assets across a wide range of shipping and offshore sectors. The company is a reliable producer of a steady stream of cashflows to its institutional and individual investors.
Maintaining a strong presence across the entire value chain, Hartmann Pelagic introduces opportunities for partners to benefit from its considerable industry expertise and experience, inviting investors to become an active player in an industry that controls approximately 90% of all global trade. For centuries, the maritime industry has underpinned the global economy, constantly evolving and proving its vitality in sustaining livelihoods and lives. With important firsthand experience in negotiating change and venturing beyond its comfort zone, Hartmann Pelagic seeks to share its experiences. With an emphasis on building a brand that its partners can relate to and trust professionally and personally,Hartmann Pelagic leverages the decades of experience of its management team in the shipping and offshore sectors, providing both individual and institutional investors with a consistent annual yield.
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