Paragon Offshore (PGN) Misses Q3 EPS by 5c

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Paragon Offshore Reports Third Quarter 2015 Results And Provides Fleet Status Report

November 9, 2015 7:00 AM EST

HOUSTON, Nov. 9, 2015 /PRNewswire/ -- Paragon Offshore plc ("Paragon") (NYSE: PGN) today reported a third quarter 2015 net loss of $1.08 billion, or a loss of  $12.46 per diluted share as compared to a third quarter 2014 net loss of $869.2 million, or a loss of $10.26 per diluted share.  Results for the current quarter included:

a $1.15 billion, or $13.22 per share, non-cash asset impairment charge comprising: $781.2 million related to five rigs of Paragon's floating fleet including the Paragon MSS2, Paragon MDS1, Paragon DPDS1, Paragon DPDS2, and Paragon DPDS3; $289.3 million... More