Rig: Paragon L781

Name Paragon L781
Owner Paragon Holding NCS 2 S.à r.l.
Manager Paragon Offshore
Rig Type Jackup
Sub Type Independent Leg Cantilever
Jackup Type Standard
Max Water Depth (ft) 300
Max Drill Depth (ft) 25000
Dimensions (ft) 180 x 175 x 25
Leg Length (ft) 417
Competitive Yes

Current Location

Country USA
Region North America

Drilling Equipment

Drawworks Type Continental Emsco C3 Type II
Drawworks HP 3000
Mud Pumps Type Continental Emsco FB-1600 Triplex
Top Drive National Oilwell Varco PS2-500A
Hookload Capacity (lbs) 1000000

Rig Construction Details

Rig Design Friede & Goldman
Rig Model L-780 Mod II
Year Built 1984
Country of Build China (Taiwan)
Yard Name Keelung Shipyard
Group Yard Name CSBC Corporation, Taiwan

Rig Contract Details

Operating Status Retired
Operator

Rig Images

News

4 Aug 2014

Paragon Offshore completes spin-off from Noble Corporation

Paragon Offshore plc (Paragon) announced today the completion of its spin-off from Noble Corporation plc (Noble) into a separate, publicly-traded company that owns and operates standard specification offshore drilling rigs. On August 1st, 2014, Noble distributed to its shareholders one ordinary share of Paragon for every three ordinary shares of Noble held at 5:00 p.m., New York City time, on the record date of the distribution, July 23rd, 2014. No fractional Paragon shares were issued; however, shareholders who would otherwise have been entitled to receive a fractional Paragon share in the distribution instead received cash in lieu of that fractional share. Paragon ordinary shares will begin "regular-way" trading under the symbol "PGN" on the New York Stock Exchange on August 4th, 2014. "We are excited about the completion of the spin-off and the launch of Paragon Offshore," said Randall D. Stilley, President and Chief Executive Officer of Paragon. "Our rich heritage from Noble's ninety-three year history sets the stage for future growth opportunities while enabling us to continue delivering the safe, reliable and cost-effective operations our customers expect. We look forward to a bright future." Paragon will now own and operate 42 offshore drilling rigs (34 jackups, five drillships and three semisubs), one FPSO and conduct contract labour operations on the Hibernia Platform offshore eastern Canada.

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