Scale, Size and Expertise

Paragon’s rig fleet provides drilling
services in major hydrocarbon basins around
the world.

Safety, Reliability and Efficiency

Our strong safety performance, highly-skilled personnel, and well-maintained rigs make us a preferred choice for customers around the world.

Strategic Renewal

Paragon revitalizes its fleet by
continuously maintaining its legacy fleet
while acquiring new rigs, such as
Prospector 1 and Prospector 5.

Paragon Offshore at a Glance

Paragon Offshore is a leading provider of standard specification offshore drilling services. Paragon focuses its operation on the North Sea, Middle East, and India.  Our large fleet, global presence and well-established customer relationships position us for success in the dynamic offshore drilling industry.

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Careers Join the Paragon Team.
Rig Fleet Access our fleet status report.

Information about Borr Drilling’s Tender Offer for Shares of Paragon Offshore Limited

On February 26, 2018, Borr Drilling Limited announced the commencement of its tender offer to purchase all of the outstanding shares Paragon Offshore Limited at a purchase price of $42.28 per share. The tender offer is expected to remain open for 20 business days and expire at 12:01 A.M. Eastern time on March 24, 2018, unless extended.

Concurrently with the commencement of the Offer, Borr has disseminated to shareholders an Offer to Purchase which contains detailed information regarding the terms of the tender offer. In addition, Paragon has disseminated to shareholders a Disclosure Statement which includes, among other things, the recommendation of the Board of Directors of Paragon that shareholders tender their shares in the tender offer. Both documents are available to download by clicking on the links below:

Tender Offer
Disclosure Statement

Please Note: the tender offer referred to in this press release is for the purchase of shares of Paragon Offshore Limited and is not an offer with respect to any securities of Paragon Offshore plc (in administration) (“Old Paragon”).

Information about Paragon Offshore plc’s Completed Financial Restructuring


On July 18, 2017, Paragon Offshore plc (“OldCo”) emerged from U.S. Bankruptcy reorganization (the “Effective Date”). As part of the restructuring, certain direct and indirect subsidiaries of OldCo and certain other assets of OldCo and/or certain of its direct and indirect subsidiaries (which together constitute the ongoing operational business of the Paragon Offshore group) were transferred directly or indirectly to Paragon Offshore Limited, a newly formed Cayman Islands company (“Paragon Offshore”).

OldCo will continue to exist as a separate entity subsequent to the Effective Date and its shares were not cancelled on the Effective Date; therefore, OldCo’s shares may continue to trade on over-the-counter markets. At this time, shares of Paragon Offshore are not traded on any market.

Please note that OldCo and Paragon Offshore are two separate and distinct entities and any shares you may see traded of OldCo DO NOT represent the equity of the reorganized Paragon Offshore nor any right to receive any equity or other interest in (or property of) Paragon Offshore.