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 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...
Paragon Offshore Provides Fleet Status Report
October 17, 2016 16:05 ET
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Paragon Offshore Services LLC
HOUSTON, Oct. 17, 2016 (GLOBE NEWSWIRE) -- Paragon Offshore plc (“Paragon”) (OTC:PGNPQ) announced today that it issued a report on drilling rig status and contract information as of October 17,...
Paragon Offshore Provides Fleet Status Report
September 19, 2016 16:05 ET
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Paragon Offshore Services LLC
HOUSTON, Sept. 19, 2016 (GLOBE NEWSWIRE) -- Paragon Offshore plc (“Paragon”) (OTC:PGNPQ) announced today that it issued a report on drilling rig status and contract information as of September 19,...
Paragon Offshore to Present at Pareto Securities’ 23rd Annual Oil and Offshore Conference
September 14, 2016 04:45 ET
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Paragon Offshore Services LLC
HOUSTON, Sept. 14, 2016 (GLOBE NEWSWIRE) -- Paragon Offshore plc (“Paragon”) (NYSE:PGNPQ) President and Chief Executive Officer Randall D. Stilley spoke today at Pareto Securities’ 23rd Annual Oil...
Paragon Offshore Announces Binding Support of Revised Restructuring Plan
August 10, 2016 16:43 ET
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Paragon Offshore Services LLC
100% of Revolver Lenders Support the Revised Restructuring Plan69% of Bondholders Support the Revised Restructuring Plan HOUSTON, Aug. 10, 2016 (GLOBE NEWSWIRE) -- Paragon Offshore plc (“Paragon”...