Paragon Offshore Announces Approval of Administration Application and Appointment of Joint Administrators in the United Kingdom
May 23, 2017 09:27 ET
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Paragon Offshore Services LLC
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...
Paragon Offshore Files Application for Administration in United Kingdom to Advance Its Chapter 11 Plan
May 17, 2017 09:28 ET
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Paragon Offshore Services LLC
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...
Paragon Offshore Reports First Quarter 2017 Results and Provides Fleet Status Report
May 10, 2017 08:30 ET
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Paragon Offshore Services LLC
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...
Paragon Offshore Announces Consensual Restructuring Agreement Reached Between Secured and Unsecured Lenders, Establishing Litigation Trust for Creditors to Pursue Claims Against Noble Corporation
May 02, 2017 10:49 ET
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Paragon Offshore Services LLC
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...
Paragon Offshore Reports Fourth Quarter and Full Year 2016 Results and Provides Fleet Status Report
March 10, 2017 08:59 ET
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Paragon Offshore Services LLC
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...
Paragon Offshore Announces Agreement in Principle to Support a New Plan of Reorganization With Term Lenders and Revolver Lenders
January 18, 2017 17:15 ET
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Paragon Offshore Services LLC
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...
Paragon Offshore Announces Leadership Changes
November 10, 2016 08:45 ET
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Paragon Offshore Services LLC
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...
Paragon Offshore Reports Third Quarter 2016 Results and Provides Fleet Status Report
November 08, 2016 16:05 ET
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Paragon Offshore Services LLC
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...
Paragon Offshore To Announce Third Quarter 2016 Results
November 01, 2016 16:51 ET
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Paragon Offshore Services LLC
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,...
Paragon Offshore Announces Outcome of Confirmation Hearing
October 28, 2016 14:29 ET
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Paragon Offshore Services LLC
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...