Fleet report 10/19/2015
Paragon Offshore
Fleet Status Report
October 19, 2015
Q3 2015 Q4 2015
NORTH SEA
MSS1
(NTvL)
SS 1,500' UK Nexen 225 Late Jun 2015 Late Dec 2015 - -
Prospector 1 JU 400' UK Total 185 Early Oct 2014 Mid Sep 2016 - -
Prospector 5 JU 400' UK Total 218 Late Dec 2014 Mid Nov 2017 - -
B391
(NJR)
JU 390' UK Centrica 154 Early Apr 2013 Early Apr 2016 - -
C20051
(NAW)
JU 360' NL
NL
Total
Total
125
135
Early May 2015
Early Jan 2016
Late Dec 2015
Late May 2016 -- -- Dayrate reduction from $176K to $125K for the period of early May 2015 to late June 2015 will be recognized over the remaining term of the contract beginning
July 1, 2015.
C20052
(NBW)
JU 300' NL
NL
Tulip Oil
Petrogas
145
170
Late Jul 2015
Late Oct 2015
Mid Sep 2015
Late Jan 2016 -- -- C461
(NLB)
JU 250' NL ONE 113 Early May 2015 Mid Nov 2017 - -
C462
(NPvE)
JU 250' NL
NL
ENGIE
ENGIE
157
50
Mid Jan 2015
Early Sep 2015
Mid Aug 2015
Late Oct 2015 -- -- Accommodation mode from early September to late October.
C463
(NRH)
JU 250' NL
NL
NL
ENGIE
ENGIE
ENGIE
130
167
130
Mid Jan 2015
Mid Aug 2015
Early Jan 2016
Mid Aug 2015
Late Dec 2015
Early Mar 2016 --- --- HZ1
(NGS)
JU 250' UK Wintershall 142 Early Jul 2015 Late Aug 2016 - 40 Planned maintenance and upgrades for 40 days in 4Q2015 and 21 days in
1Q2016.
WEST AFRICA (f)
L782
(NPJ)
JU 300' CM Noble Energy 90 Late Jun 2015 Early Oct 2015 - - M825
(NEN)
JU 250' CM Perenco 149 Late Sep 2014 Late Mar 2016 - -
M826
(NLN)
JU 250' TZ PanAfrican
Energy Tanzania
Ltd.
35
105
Early Aug 2015
Early Sep 2015
Late Aug 2015
Mid Dec 2015
- - Standby dayrate of $35K from early August 2015 to late August 2015 prior to
commencement of operations.
Stacked
B301
(NJH)
JU 300' GoM - - - Mid Jun 2015 - -
DPDS1
(NPH)
DS 5,000' GoM - - - Late Nov 2014 - -
L781
(NRB)
JU 300' GoM - - - Mid May 2015 - -
L783
(NTC)
JU 300' CM - - - Early Jul 2015 - -
L785
(NGM)
JU 300' MY - - - Mid Apr 2015 - -
Last
Rig Contract End Comments (a,b) Type (c)
Water
Depth Area (d)
Rig (a,b) Type (c)
Water
Depth Area (d) Operator
Dayrate
($000)
Estimated (e)
Contract Start
Estimated (e)
Contract End
Actual / Estimated Nonrevenue
Days (i)
Comments
Changes from the previous fleet status report are in red.
Page 3 of 4
Paragon Offshore
Fleet Status Report
October 19, 2015
Stacked (Continued)
L1111
(NGA)
JU 300' UAE - - - Late Nov 2013 - -
L1113
(NJS)
JU 300' GoM - - - Late May 2015 - -
L1114
(NSN)
JU 300' GoM - - - Mid Dec 2014 - -
L1116
(NGR)
JU 300' GoM - - - Early Nov 2013 - -
M531
(NLJ)
JU 390' GoM - - - Late Dec 2014 - -
M821
(NCN)
JU 250' GoM - - - Mid Feb 2015 - -
M823
(NEF)
JU 250' GoM - - - Late Nov 2014 - -
Footnotes
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
Changes from the previous fleet status report are in red.
A cross-reference of the Paragon rig names to the previous Noble rig names is available on our website at www.paragonoffshore.com in the "Our Fleet" section. On this Fleet Status Report, former Noble rig
name is indicated by a three letter abbreviation below the Paragon rig name.
Naming convention for rigs is based on rig design. Floaters begin with "DP" for Dynamic Positioning or "M" for Moored. Jackups begin with "B" for BMC 150, BMC 300 or BMC Europe; "C2005" for CFEM T-
2005-C, "C46" for CJ-46; "L111" for Levingston 111-C, "L78" for F&G L-780 Mod II; and "M" for MLT 116-C, MLT 82-C, MLT 82-SD-C, or MLT 84-ERC. The Dhabi II is a BMC 150, and HZ1 is
a NAM Nedlloyd-C.
The codes for type of rig are: DS - Drillship, JU - Jackup, and SS - Semisubmersible.
The codes for area of operations are: BR - Brazil, CG - Congo, CM - Cameroon, DK - Denmark, EG - Equatorial Guinea, GoM - Gulf of Mexico, IN - India, MY - Malaysia, MEX - Mexico,
NL - Netherlands, QA - Qatar, TZ - Tanzania, UAE - United Arab Emirates, and UK - United Kingdom.
The date ranges are defined as: Early is 1st - 10th, Mid is 11th - 20th and Late is 21st - Month End.
In various market segments, the Company contracts with certain parties for the provision of certain local services and advice. Compensation paid to such parties by the Company typically is based on a
percentage of the drilling contract’s daywork operating rate, and the Company accounts for such payments in its financial statements in the contract drilling services operating costs and expenses line item.
The drilling contract provides the client with the right to terminate the contract in the event of excessive downtime. While we have exceeded downtime thresholds in the past on certain rigs contracted with
Petrobras, we have not received any notification concerning contract cancellations nor do we anticipate receiving any such notifications.
Dayrate reflects the full daywork operating rate payable to the Company by the operator as provided in the applicable drilling contract unless otherwise specified. The average dayrate over the term of the contract will be lower and could be
substantially lower. The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, foreign exchange currency movements, etc.) including some beyond our control. Our client contracts and operations are
generally subject to a number of risks and uncertainties. We discuss these factors, including risks, uncertainties and assumptions concerning actions by our clients, governments and other third parties, drilling activity levels, market conditions,
operational difficulties, weather related events and other matters, from time to time in our filings with the U.S. Securities and Exchange Commission (“SEC”), which we urge you to review and which are available free of charge on the SEC’s website at
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