1235 results found for 'paragon'

1235 results found for 'paragon'
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  • Paragon sees rate increase in Mexico

    8 March 2016
    Exploration & Production

    Mexico’s state oil company Pemex has increased a dayrate for one of Paragon Offshore’s drilling rigs in Mexico.  In the company’s fleet status report for March, Paragon, an offshore drilling contractor, said that Pemex boosted the dayrate for the jack-up rig Paragon M842 from $70,000 to $112,000 for the period of early January 2016 to early March […]

  • Paragon Shipping Deeper in Red

    2 April 2015
    Business & Finance

    Greek dry bulk shipping company Paragon Shipping Inc. reported a net loss of $51.8 million for the year ended December 31, 2014 widening the gap from the preceding year’s net loss of $17 million. Net revenue, net of voyage expenses amounted to $11.6 million in the fourth quarter of 2014, falling from $13.9 million reported in 2013. “During […]

  • Paragon Delays Kamsarmax Deliveries

    9 June 2015
    Business & Finance

    Athens-based dry bulk shipping company Paragon Shipping Inc. has decided to postpone the delivery of the three Kamsarmax vessels currently under construction until the first quarter of 2016. The decision comes as Paragon comes to grips with difficult market plagued by vessel oversupply and record-low charter rates. The company’s outstanding newbuilding program consists of two Ultramax drybulk […]

  • Paragon mulls options for removal of grounded drillship

    30 August 2017
    Exploration & Production

    Offshore driller Paragon Offshore is evaluating options for removal of its drillship, the Paragon DPDS1, which broke loose of its moorings during Hurricane Harvey’s landfall while in safe harbor at Port Aransas, Texas. Ahead of the storm, Paragon had arranged for two standby tugs to remain with the vessel and supplement the ship’s mooring system, […]

  • Paragon Offshore spin-off completed

    4 August 2014
    Business & Finance

    Noble Corporation plc  announced today that it has completed the spin-off of all of the outstanding shares of Paragon Offshore plc, which owns most of Noble’s standard specification drilling business. As a result, Noble and Paragon are now two separate, publicly-traded companies. On August 1, 2014, Noble distributed to its shareholders one ordinary share of […]

  • Paragon Offshore ‘to emerge from the shadow of bankruptcy’

    8 June 2017
    Business & Finance

    The U.S. Bankruptcy Court has approved Paragon Offshore’s consensual plan of reorganization under chapter 11 of the U.S. Bankruptcy Code and the driller expects to emerge from bankruptcy next month.  Paragon announced its consensual plan of reorganization on May 2. Under the plan, Paragon’s existing equity will be deemed worthless and the company’s secured creditors and unsecured bondholders […]

  • Paragon Offshore growing its business

    12 September 2014
    Business & Finance

    Paragon Offshore plc President and Chief Executive Officer Randall D. Stilley spoke recently at the Pareto Securities Oil and Offshore Conference in Oslo, Norway. In prepared remarks, Randall D. Stilley commented on the strength of the business, steady market outlook for the standard specification jack-up business, and Paragon’s history of delivering safe, reliable, and cost effective […]

  • Paragon Nets Funds for Two Newbuildings

    1 April 2014
    Business & Finance

    Paragon Shipping, specializing in the transportation of drybulk cargoes, has entered into a new $120 million credit facility, which will be used to partly finance the company’s two Ultramax newbuildings scheduled for delivery in 2015. The deal was closed with a syndicate of major European banks led by Nordea Bank Finland PLC. Aside to financing of […]

  • Borr CEO to leave after Paragon transaction

    23 March 2018
    Business & Finance

    Borr Drilling and the company’s CEO Simon Johnson have agreed on a contract termination following the Paragon transaction.

  • Paragon gets more work for jack-up rigs

    10 May 2017
    Business & Finance, Exploration & Production

    Drilling contractor Paragon Offshore has been awarded work for three of its jack-up drilling rigs.  According to Paragon’s fleet status report on Wednesday, the jack-up rig MSS1 has been awarded a one-well contract in the UK sector of the North Sea with Centrica. The contract with Centrica will start in early August and end in mid-October 2017. […]

  • Paragon Expects Stronger Drybulk Market

    14 March 2014
    Business & Finance

    Michael Bodouroglou led Paragon Shipping has released its results for the fourth quarter and year ended December 31, 2013. Net revenue of $15.6 million in the fourth quarter of 2013, up 20.3% year over year Adjusted EBITDA of $4.7 million in the fourth quarter of 2013, up 6.6% year over year Adjusted net loss of $1.8 […]

  • Paragon Offshore files for Chapter 11

    15 February 2016
    Business & Finance

    Offshore drilling contractor Paragon Offshore on Monday elected to start proceedings under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court in the District of Delaware.  As announced on Friday, February 12, 2016, Paragon entered into a Plan Support Agreement (PSA) to support a restructuring of the company’s balance sheet. Paragon […]

  • Geokinetics’ CAO joins Paragon Offshore

    1 June 2015
    Business & Finance

    Paragon Offshore, an offshore drilling contractor, has signed Geokinetics’ Vice President and Chief Accounting Officer (CAO) Alejandra Veltmann as a member of its executive management. Holding the same role in the new company, Veltmann will be reporting to Steven A. Manz, Paragon’s Senior Vice President and Chief Financial Officer. According to Paragon, her duties will be […]

  • Paragon Offshore gets another NYSE warning

    9 December 2015

    Paragon Offshore, a driller operating a fleet of jack-up rigs, has received a letter from The New York Stock Exchange (the “NYSE”) notifying Paragon that it had fallen below the NYSE’s continued listing standard.  The letter is related to a standard that requires listed companies to have a minimum average market capitalization greater than $50 million […]

  • Paragon Offshore posts loss amid drop in revenues

    9 August 2016
    Exploration & Production

    Drilling contractor Paragon Offshore posted a net loss for the second quarter of 2016 compared to a profit in the year-ago quarter amid a sharp drop in revenues.  Paragon Offshore reported the second quarter 2016 net loss of $25.1 million, as compared to second quarter 2015 net income of $47.3 million. The company’s total revenues for the […]

  • Petrobras to get out of contracts for two Paragon rigs?

    15 September 2015
    Exploration & Production

    Paragon Offshore, an offshore drilling contractor, said Monday in its latest fleet status report that Brazilian oil giant Petrobras is looking to break off contracts for two Paragon’s drillships.  According to Paragon, Petrobras said it might contest approximately 380 days of the drilling contract backlog for the drillship Paragon DPDS3. The offshore drilled said it is now discussing […]

  • Zhejiang Ouhua Delivers One to Paragon

    8 January 2014

    Paragon Shipping Inc., a global shipping transportation company specializing in drybulk cargoes, has taken delivery of M/V Proud Seas, a 37,227 dwt Handysize vessel, from Zhejiang Ouhua Shipbuilding Co. in China. In addition, the company has entered into an agreement with HSH Nordbank AG, subject to final documentation, to partially finance its first two Ultramax […]

  • Paragon Offshore stalls interest payment

    15 January 2016

    Paragon Offshore, a provider of jack-up offshore drilling rigs, has decided to defer an interest payment of approximately $15.4 million due today on its 6.75% senior unsecured notes maturing July 2022. The driller, which recently got delisted from the New York Stock Exchange due to its shares under-performance said that, under the terms of the indenture […]

  • Evalend Buys Paragon’s Three Newbuilds

    20 December 2016
    Business & Finance

    Greek shipping company Evalend Shipping has bought three resale Panamax bulk carriers currently under construction at China’s Jiangsu New Yangzijiang shipyard, which were initially ordered by its compatriot Paragon Shipping, VesselsValue’s data shows. The vessels in question are the 82,100 dwt Inspiring Seas, the 81,100 dwt Bright Seas and the 81,800 dwt World Seas. Scheduled for […]

  • Paragon Offshore elects VP HR

    13 January 2015
    Business & Finance, Exploration & Production

    Paragon Offshore plc has announced that Julie A. Ferro has been appointed Vice President – Human Resources with responsibilities that include human resources, administration, learning and development, performance management, employee relations, recruiting and retention.  Paragon says that Ferro has more than 18 years of human resources experience working for both public and private companies in […]

  • Borr makes a move to take over Paragon Offshore

    22 February 2018
    Business & Finance, Exploration & Production

    Borr Drilling has made a binding tender agreement to offer to purchase all outstanding shares in Paragon Offshore. 

  • Paragon sues Noble over ‘fraudulent corporate spin-off’

    18 December 2017
    Business & Finance

    Noble Corporation has expressed disappointment by a lawsuit from its spin-off Paragon Offshore, claiming that Noble jettisoned a fleet of old offshore drilling rigs via a fraudulent corporate spin-off.

  • Paragon Snubs Delivery of Ultramax Newbuilding

    26 May 2016
    Business & Finance

    Athens-based dry bulk shipping company Paragon Shipping has not taken delivery of an Ultramax newbuilding dry bulk carrier, according to a statement from the company. Namely, Paragon Shipping said that it received a notice of default from the Chinese shipbuilder Yangzhou Dayang Shipbuilding Co. Ltd. on May 24 for not taking delivery of the vessel. The company still […]

  • Paragon stacks drillship and semi-sub rig

    19 July 2016
    Exploration & Production

    Offshore drilling contractor Paragon Offshore has stacked one of its drillships and a semi-sub drilling rig in Puerto Rico. According to Paragon’s fleet status report on Monday, the 1981-built drillship Paragon DPDS2 was stacked in Puerto Rico. Petrobras early-released the rig in September 2015, as the company is disputing approximately 520 days of the drilling contract, which […]

  • Paragon Offshore stacks one more rig

    17 February 2016
    Exploration & Production

    Paragon Offshore, an offshore drilling contractor, has stacked one of its drilling rigs after it arrived from India to UAE.  According to the offshore driller’s February fleet status report, the 1975-built drillship Paragon MDS1 was stacked in the UAE as the rig was without a contract since October 2015. The drillship’s last contract before it was stacked […]