Latest News and Press Releases

English Court places Paragon Offshore plc in administration as part of ongoing chapter 11 processJoint Administrators from Deloitte LLP appointedParagon will continue to operate in normal course...

Administration process in UK is a necessary part of previously announced restructuring planParagon will continue to operate in normal course during administrationParagon remains on track to emerge...

First quarter 2017 revenues of $57 million; net loss of $70 million or $0.79 per shareAdjusted EBITDA of negative $2 million net of reorganization itemsCash balance at March 31, 2017 of $833 million...

AGREEMENT CLEARS PATH TO JUNE CONFIRMATION  Term Lenders and Revolver Lenders to receive pro rata shares of $410 million in cash, 50% of new common equity, and new term debt of $85...

Fourth quarter 2016 revenues of $61 million; net loss of $244 million or $2.78 per shareFull year 2016 revenues of $636 million; net loss of $338 million or $3.87 per shareFourth quarter 2016 adjusted...

Eliminates approximately $2.4 billion of debt through combination of cash and equitizationRe-focuses core business on North Sea, Middle East, and IndiaSecured Term Lenders and Secured Revolver Lenders...

Dean Taylor to Serve as Interim President and CEO  Lee Ahlstrom Named Interim CFO HOUSTON, Nov. 10, 2016 (GLOBE NEWSWIRE) -- The Board of Directors of Paragon Offshore plc (“Paragon” or the...

Third quarter 2016 revenues of $125 million; net loss of $64 million or $0.72 per share Adjusted EBITDA of $21 million net of reorganization itemsContract drilling services costs seven percent...

HOUSTON, Nov. 01, 2016 (GLOBE NEWSWIRE) -- Paragon Offshore plc (“Paragon”) (OTC:PGNPQ) announced today that it plans to report financial results for the third quarter 2016 on Tuesday, November 8,...

HOUSTON, Oct. 28, 2016 (GLOBE NEWSWIRE) -- Paragon Offshore plc (“Paragon” or the “company”) (OTC:PGNPQ) announced today that the United States Bankruptcy Court (the “Bankruptcy Court”) for the...