Paragon Offshore engages advisors

Paragon Offshore plc (NYSE: PGN) has retained Lazard and Weil, Gotshal & Manges LLP to advise Paragon on strategic alternatives related to its capital structure.

Paragon is a global provider of offshore drilling rigs. Its 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.

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