Paragon Offshore plc is a provider of offshore drilling units serving the oil and gas industry. The Company’s fleet consists of 42 mobile offshore drilling units (MODUs) (34 jackups, five drillships and three semisubmersibles), one floating production, storage and offtake (FPSO) and conduct contract labor operations on the Hibernia Platform offshore eastern Canada. The Company also performs drilling operations on the Hibernia Platform offshore Eastern Canada. It operates in hydrocarbon-producing geographies worldwide, including Mexico, Brazil, the North Sea, West Africa, the Middle East, India and Southeast Asia. On August 1, 2014, Noble Corporation plc (Noble) completed the separation and spin-off of its offshore drilling business (the Spin-off) through a pro rata distribution of all of the ordinary shares of its wholly owned subsidiary, Paragon Offshore plc (Paragon Offshore), a public limited company incorporated under the laws of England and Wales.