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Paragon Offshore sees $5.07 million operating loss for February period
By Caroline Salls
Pittsburgh, April 1 – Paragon Offshore plc reported a $5.07 million operating loss for the period of Feb. 14 through Feb. 29 on zero revenue, according to its monthly operating report filed April 1 with the Securities and Exchange Commission.
The net loss for the period was $9.82 million.
The company had $343.64 million in cash and cash equivalents as of Feb. 29.
Paragon, a Houston-based provider of offshore drilling rigs, filed for bankruptcy on Feb. 14 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 16-10386.
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