Press Release: Paragon Offshore : Paragon Offshore Limited Comments on Dismissal of the Chapter 11 Cases Related to Prospector Offshore

HOUSTON, March 27, 2018 (GLOBE NEWSWIRE) -- Paragon Offshore Limited ("Paragon") commented today on the conclusion of the voluntary proceedings commenced July 2017 by Paragon Offshore plc (in administration) ("Old Paragon") and certain of Old Paragon's subsidiaries under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court in the District of Delaware (the "Court"). The subsidiaries of Old Paragon included in the proceedings were Prospector Offshore Drilling S.à r.l ("Offshore Drilling"), Prospector Rig 1 Contracting Company S.à r.l and Prospector Rig 5 Contracting Company S.à r.l (collectively, and together with the other non-filing subsidiaries of Offshore Drilling, the "Prospector Group").