Paragon Offshore plc (Paragon) is a global provider of offshore drilling rigs with a fleet that includes approximately 34 jackups and six floaters (four drillships and two semisubmersibles). The Company refers to its semisubmersibles and drillships collectively as floaters. The Company's primary business is to contract its drilling rigs, related equipment and work crews to conduct oil and gas drilling and work over operations for its exploration and production customers on a day rate basis around the world. It operates in hydrocarbon-producing geographies throughout the world, including Mexico, Brazil, the North Sea, West Africa, the Middle East, India and Southeast Asia. It provides drilling and maintenance services (but do not provide a rig) on the Hibernia Project in the Canadian Atlantic.