Latest News and Press Releases

HAMILTON, Bermuda and HOUSTON, March 27, 2018 (GLOBE NEWSWIRE) -- Borr Drilling Limited (“Borr”) and Paragon Offshore Limited (“Paragon”) announced today that Borr’s previously announced tender...

Borr extends Offer to 6:00 PM Eastern time on Tuesday 27 March 2018As of 5:00 PM Eastern time on Friday 23 March 2018, 4,985,957 Shares, representing over 99% of the outstanding Shares of Paragon, had...

Paragon receives arbitration settlement proceeds of $8.8 million, or $1.60 per fully diluted shareProceeds raise total cash consideration for Paragon shares to $43.88 per fully diluted shareTender...

HAMILTON, Bermuda and HOUSTON, Texas, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Borr Drilling Limited (“Borr”) today announced the commencement of its tender offer to purchase all of the outstanding shares...

Tender offer for all of Paragon’s outstanding sharesCash offer price of $42.28 per shareRecommended by Paragon’s Board of DirectorsSupported by 67.9% of Paragon’s shareholdersConsensual agreement...

Eliminates approximately $2.3 billion of debtEmerges with approximately $165 MM of available cash and $85 million in debtAppoints new board of directorsLaunches CEO search HOUSTON, July 18, 2017 ...

HOUSTON, June 07, 2017 (GLOBE NEWSWIRE) -- Paragon Offshore plc (“Paragon” or the “company”) (OTC:PGNPQ) announced today that the United States Bankruptcy Court has approved the company’s consensual...

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...