HOUSTON, Sept. 17, 2015 /PRNewswire/ -- Paragon
Offshore plc ("Paragon") (NYSE: PGN) announced today that it has
retained Lazard and Weil, Gotshal & Manges LLP to advise
Paragon on strategic alternatives related to its capital
structure.
Forward-Looking Disclosure Statement
This release contains forward-looking statements. Statements
regarding pursuit of strategic alternatives related to Paragon's
capital structure, as well as any other statements that are not
historical facts in this release, are forward-looking statements
that involve certain risks, uncertainties and assumptions. These
include but are not limited to risks associated with the general
nature of the oil and gas industry, risks associated with the
operation of Paragon as a separate, publicly traded company,
actions by regulatory authorities, customers and other third
parties, and other factors detailed in the "Risk Factors" section
of Paragon's annual report on Form 10-K for the fiscal year ended
December 31, 2014, and in Paragon's
other filings with the SEC, which are available free of charge on
the SEC's website at www.sec.gov. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
indicated.
About Paragon Offshore
Paragon is a global provider of offshore drilling rigs.
Paragon's operated fleet includes 34 jackups, including two high
specification heavy duty/harsh environment jackups, and six
floaters (four drillships and two semisubmersibles). Paragon's
primary business is contracting its rigs, related equipment and
work crews to conduct oil and gas drilling and workover operations
for its exploration and production customers on a dayrate basis
around the world. Paragon's principal executive offices are located
in Houston, Texas. Paragon is a
public limited company registered in England and Wales with company number 08814042 and
registered office at 20-22 Bedford
Row, London, WC1R 4JS,
England. Additional information is
available at www.paragonoffshore.com.
For additional
information, contact:
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For
Investors
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Lee M.
Ahlstrom
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&
Media:
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Senior Vice President
– Investor Relations, Strategy and Planning
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+1.832.783.4040
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SOURCE Paragon Offshore plc