1235 results found for 'paragon'

1235 results found for 'paragon'
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  • Paragon Offshore has 6 months to escape delisting from NYSE

    7 August 2015
    Business & Finance

    Paragon Offshore, a provider of offshore drilling rigs to the oil and gas industry, today announced that it had received a letter from The New York Stock Exchange (the NYSE) notifying it that, for 30 consecutive trading days, the price for Paragon’s common shares was below the minimum $1.00 per share requirement for continued listing […]

  • Paragon gets early termination in Middle East. Shrinks loss in 3Q

    9 November 2016
    Exploration & Production

    Drilling contractor Paragon Offshore has received an early termination for one of its jack-up rigs operating in the Middle East.  In its latest fleet status report, Paragon said on Tuesday that the jack-up rig M1162 has received an early termination notice from NDC (ADMA-OPCO). The company added it was in discussions with the client regarding […]

  • NYSE suspends trading of Paragon Offshore shares

    18 December 2015
    Exploration & Production

    The New York Stock Exchange has suspended trading in shares of offshore driller Paragon Offshore, effective immediately.  According to a statement by the drilling company the NYSE determined that Paragon’s ordinary shares were no longer suitable for listing based on “abnormally low” price levels. “As a result of this notification, Paragon will not submit a […]

  • Two extensions, one cancellation for Paragon Offshore’s jack-up rigs

    19 April 2016
    Business & Finance, Exploration & Production

    Offshore drilling contractor Paragon Offshore has received two contract extensions and one contract termination for its jack-up drilling rigs.  According to Paragon’s latest fleet status report, the contract for Paragon’s 1979-built jack-up drilling rig Paragon M1162, operating in the UAE, was extended from mid January 2017 to late January 2019. Paragon said it was in discussions […]

  • Paragon Offshore stacks two more rigs

    11 August 2015
    Business & Finance, Exploration & Production

    Paragon Offshore, a global provider of offshore drilling rigs, has stacked two jack-up drilling rigs and has been awarded several contract extensions with reduced dayrates. According to its latest fleet status report issued Tuesday, Paragon stacked the jack-up rig Paragon L1113 in the U.S. Gulf of Mexico. The rig’s contract with Pemex, offshore Mexico, with a dayrate […]

  • Paragon Hurt by Plummeting Market Rates

    3 September 2014
    Business & Finance

    Paragon Shipping Inc., a global shipping transportation company specializing in dry bulk cargoes, has reported a a net loss of over USD 35 million for the six months ended June 30, 2014. The company states that even though there was an increase in the number of operated vessels on average, a weak dry bulk market […]

  • Noble’s Spinoff Paragon Offshore Gets CEO

    5 February 2014

    Noble Corporation plc has announced that Randall D. (Randy) Stilley has been selected to serve as president and chief executive officer of Paragon Offshore, the standard specification offshore drilling company to be created upon separation from Noble. “The Board of Directors is pleased that Randy will lead Paragon Offshore,” said David W. Williams, Chairman, President and […]

  • Greece: Paragon Shipping Reaches Agreement with Commerzbank

    17 December 2012
    Business & Finance

    Paragon Shipping Inc., announced today that it has entered into a binding agreement with Commerzbank AG, subject to certain conditions and final documentation, to amend terms in its loan agreement dated August 12, 2011. More specifically, the Company has obtained waivers and Commerzbank has agreed to the relaxation of several financial and security coverage ratio […]

  • Paragon Postpones Delivery of Newbuilds, China

    8 November 2012

    Paragon Shipping Inc. has reached an agreement with Zhejiang Ouhua Shipbuilding Co., Ltd to postpone the delivery dates of the Company’s vessels under construction and to change the apportionment of the advances already paid among the vessels under construction. Under the amended shipbuilding contracts and based on the latest updates from the shipyard, the remaining […]

  • Rig impairments drag Paragon Offshore deeper into red

    10 March 2017
    Business & Finance, Exploration & Production

    Drilling contractor Paragon Offshore posted a deeper net loss for the fourth quarter 2016 compared to the prior-year fourth quarter due to jack-up rig impairments. The driller on Friday reported fourth quarter 2016 net loss of $244.4 million, as compared to fourth quarter 2015 net loss of $23.3 million. According to the company, results for […]

  • Paragon Offshore stacks two jack-ups, prepares four more

    14 July 2015
    Business & Finance, Exploration & Production

    Paragon Offshore, a provider of offshore drilling rigs, has stacked two jack-up drilling rigs, one in Malaysia and another one in Cameroon, and it will be stacking four jack-ups in the U.S. Gulf of Mexico.  Namely, Paragon Offshore stacked the jack-up rig Paragon L785 in Malaysia. The rig was previously working for Talisman from mid-April 2014 till […]

  • Paragon proposes new board for Prospector Offshore Drilling

    25 November 2014
    Business & Finance, Exploration & Production

    Paragon Offshore, the largest shareholder of Prospector Offshore Drilling since last week, has lodged a formal request for an extraordinary general meeting of  the shareholders of Prospector Offshore Drilling S.A. to be convened. At the meeting, Paragon will seek to appoint new board of directors. To remind, Paragon Offshore last week acquired 93.5% of Prospector Offshore […]

  • Paragon Offshore taking over Prospector Offshore Drilling

    17 November 2014
    Exploration & Production

    Paragon Offshore, an offshore drilling contractor, has acquired 52,749,014 shares of Prospector Offshore Drilling S.A., a publicly traded offshore drilling company listed on Oslo Axess. Paragon acquired the shares at a price of 14.50 Norwegian kroner (NOK) per share, or $2.13 per share based on the exchange rate of one United States dollar to 6.80 NOK. […]

  • Paragon’s drillship gets early release from Petrobras

    20 October 2015
    Exploration & Production

    Paragon Offshore, an offshore drilling contractor, has informed that Brazil’s state-owned oil giant Petrobras has given an early release to its drillship DPDS2. According to Paragon’s latest fleet status report,Petrobras released the drillship in September 2015 although it was originally contracted through early March 2017. Prior to release, the drillship was operating under a dayrate of $300,000. […]

  • Noble Corp. gives green light to Paragon spin-off

    14 July 2014
    Business & Finance, Project & Tenders

    Noble Corporation plc’s  board of directors has approved the spin-off of Paragon Offshore plc, a wholly-owned subsidiary of Noble, through a pro rata distribution of an aggregate of 84,753,393 Paragon ordinary shares to the holders of Noble ordinary shares. Noble shareholders will receive one ordinary share of Paragon for every three ordinary shares of Noble […]

  • Paragon Offshore delays ‘Prospector 6’ delivery

    24 July 2015
    Business & Finance, Exploration & Production

    Paragon Offshore, an offshore drilling contractor, has signed an agreement with Shanghai Waigaoqiao Shipbuilding Co., LTD., to extend the delivery date of the jack-up rig Prospector 6 to April 15, 2016.  Paragon said that, under the terms of the agreement, no payments are due to the shipyard until the delivery date and upon completion of […]

  • Paragon wins jack-up deal with Centrica

    18 October 2016
    Business & Finance, Exploration & Production

    Drilling contractor Paragon Offshore has been awarded a contract for one of its jack-up drilling rigs.  In its latest fleet status report on Monday, Paragon said its jack-up drilling rig Paragon B391 has won a contract with Centrica in the UK sector of the North Sea. The contract is for light well intervention services from […]

  • Paragon Offshore suffers $1B loss. Delays newbuild delivery

    9 November 2015
    Exploration & Production

    Paragon Offshore, a provider of offshore drilling rigs, has expanded its loss for the third quarter of 2015 when compared to the same period last year. In addition, the company has extended the delivery date for its newbuild jack-up rig.  Paragon Offshore on Monday reported a third quarter 2015 net loss of $1.08 billion, as compared […]

  • Paragon Offshore CEO: Rig dayrates on a downward slope

    14 May 2015

    Paragon Offshore CEO Randall D. Stilley has in the first quarter results presentation provided a bleak outlook for the offshore drilling industry for the remainder of the year, saying that there may be more contract cancellations and renegotiations. His company, Paragon Offshore, operating a standard specification rig fleet, has reported a fall in its first quarter […]

  • Borr launches tender offer for Paragon Offshore shares

    27 February 2018
    Exploration & Production

    Norway’s Borr Drilling has officially launched its tender offer to buy all outstanding Paragon Offshore shares. The tender offer announcement released on Monday follows last week’s news that Borr Drilling had signed a binding tender deal to offer to purchase Paragon Offshore, in a move to consolidate the jack-up drilling market. The offer of $42.28 […]

  • Paragon Shipping Sells Its Entire Dry Bulk Fleet

    10 March 2016
    Business & Finance

    Athens-based dry bulk specialist Paragon Shipping has decided to sell all of its six dry bulk vessels to unnamed third parties as it aims for a full and final settlement of the outstanding amount of the company’s debt. The vessels in question are the M/V Coral Seas, the M/V Golden Seas, the M/V Prosperous Seas, the M/V Precious Seas, […]

  • Paragon Shipping Sells Vessel to Chop Loan

    12 January 2016
    Business & Finance

    Greek dry bulk shipping company Paragon Shipping Inc. has sold its 72,493 dwt Panamax bulk carrier M/V Kind Seas for USD 3.5 million to an unaffiliated third party.  The total net proceeds of the vessel sale will be paid towards an immediate prepayment of the company’s loan facility with Bank of Ireland. Paragon Shipping said that of the remaining loan […]

  • Paragon bags North Sea deal with Centrica

    13 March 2017
    Business & Finance, Exploration & Production

    Drilling contractor Paragon Offshore has been awarded a contract for a jack-up rig in the UK sector of the North Sea and decided to scrap one semi-submersible rig.  In its latest fleet status report issued on Friday, March 10 the driller said the jack-up rig B391 has been awarded a subsea plug and abandonment (P&A) contract in […]

  • Noble Corp accelerates Paragon Offshore’s separation process

    1 May 2014
    Business & Finance

    Noble Corporation has announced an update to its plan to spin-off Paragon Offshore. Noble expects to effect the spin-off as a dividend of 100 percent of the shares of Paragon Offshore to Noble’s shareholders during the third quarter of this year. As previously announced, Paragon Offshore will own and operate most of Noble’s current standard […]

  • Paragon Offshore reaches agreement with creditors. Settles dispute with Noble

    12 February 2016
    Exploration & Production

    Paragon Offshore, a jack-up rig operator that came into existence after spinning off from Noble Corporation, has reached an agreement with its creditors to restructure its balance sheet. The company, recently delisted from the New York Stock Exchange, said on Friday the restructuring is expected to eliminate more than $1.1 billion of debt and approximately […]