Paragon Offshore (PGNPQ) Inactive 10-K13 Mar 152014 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Feb. 27, 2015	Aug. 04, 2014
Entity [Abstract]
Entity Registrant Name	Paragon Offshore plc
Entity Central Index Key	1594590
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		85,526,352
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$932

Consolidated_and_Combined_Bala

Consolidated and Combined Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets
Cash and cash equivalents	$56,772	$36,581
Restricted cash	12,502	0
Accounts receivable	539,376	356,241
Prepaid and other current assets	104,644	51,182
Total current assets	713,294	444,004
Property and equipment, at cost	4,842,112	6,067,066
Accumulated depreciation	-2,431,752	-2,607,382
Property and equipment, net	2,410,360	3,459,684
Other assets	129,735	79,111
Total assets	3,253,389	3,982,799
Current liabilities
Current maturities of long-term debt	272,166	0
Accounts payable	160,874	124,442
Accrued payroll and related costs	81,416	60,738
Taxes payable	69,033	0
Interest payable	33,658	412
Other current liabilities	105,147	40,962
Total current liabilities	722,294	226,554
Long-term debt	1,888,439	1,561,141
Deferred income taxes	58,497	101,703
Other liabilities	89,910	88,068
Total liabilities	2,759,140	1,977,466
Commitments and contingencies
Equity
Ordinary shares, $0.01 par value, 186,457,393 shares authorized; 84,753,393 issued and outstanding at December 31, 2014	848	0
Additional paid-in capital	1,423,153	0
Retained earnings	-895,249	0
Net parent investment	0	2,005,339
Accumulated other comprehensive loss	-37,144	-6
Total shareholders' equity	491,608	2,005,333
Non-controlling interest	2,641	0
Total equity	494,249	2,005,333
Total liabilities and equity	$3,253,389	$3,982,799

Consolidated_and_Combined_Bala1

Consolidated and Combined Balance Sheets (Parentheticals) (USD $)	Dec. 31, 2014
Ordinary shares
Par value	$0.01
Shares authorized (in shares)	186,457,393
Shares issued (in shares)	84,753,393
Shares outstanding (in shares)	84,753,393

Consolidated_and_Combined_Stat

Consolidated and Combined Statements of Income (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating revenues
Contract drilling services	$1,866,497	$1,807,952	$1,448,569
Reimbursables	93,786	49,810	56,444
Labor contract drilling services	33,401	35,146	36,591
Other	78	94	253
Total operating revenues	1,993,762	1,893,002	1,541,857
Operating costs and expenses
Contract drilling services	890,694	914,702	874,805
Reimbursables	77,843	38,341	44,535
Labor contract drilling services	24,774	24,333	22,006
Depreciation and amortization	422,235	413,305	367,837
General and administrative	62,081	64,907	60,831
Loss on impairment	1,059,487	43,688	0
Gain on disposal of assets, net	0	-35,646	0
Gain on contract settlements/extinguishments, net	0	-24,373	-4,869
Gain on repurchase of long-term debt	-18,675	0	0
Total operating costs and expenses	2,518,439	1,439,257	1,365,145
Operating income (loss)	-524,677	453,745	176,712
Other income (expense)
Interest expense, net of amount capitalized	-56,732	-5,938	-3,746
Interest income and other, net	3,998	-1,897	1,959
Income (loss) before income taxes	-577,411	445,910	174,925
Income tax provision	-69,394	-85,605	-48,688
Net income (loss)	-646,805	360,305	126,237
Net loss attributable to non-controlling interest	59	0	0
Net income (loss) attributable to Paragon Offshore	($646,746)	$360,305	$126,237
Earnings (loss) per share
Basic and diluted (usd per share)	($7.63)	$4.25	$1.49
Weighted-average shares outstanding
Basic and diluted (in shares)	84,753	84,753	84,753

Consolidated_and_Combined_Stat1

Consolidated and Combined Statements of Comprehensive Income (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net Income (loss)	($646,805)	$360,305	$126,237
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	-1,481	179	1,743
Foreign currency forward contracts	-4,027	0	0
Net pension plan gain	1,153	0	0
Amortization of deferred pension plan amounts	-2,294	0	0
Total other comprehensive income (loss), net	-6,649	179	1,743
Total comprehensive income (loss)	($653,454)	$360,484	$127,980

Consolidated_and_Combined_Stat2

Consolidated and Combined Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net income (loss)	($646,805)	$360,305	$126,237
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	422,235	413,305	367,837
Loss on impairment	1,059,487	43,688	0
Gain on disposal of assets, net	0	-35,646	0
Gain on repurchase of Senior Notes	-18,675	0	0
Deferred income taxes	19,475	4,869	-14,141
Share-based compensation	19,446	21,114	18,565
Net change in other assets and liabilities	-158,174	14,840	-93,014
Net cash from operating activities	696,989	822,475	405,484
Cash flows from investing activities
Capital expenditures	-261,641	-366,361	-532,404
Proceeds from disposal of assets	6,570	61,000	0
Acquisition of Prospector Offshore Drilling S.A.	-176,569	0	0
Acquisition of Prospector Offshore Drilling S.A. non-controlling interest	-10,306	0	0
Change in restricted cash	-12,502	0	0
Change in accrued capital expenditures	1,230	-12,365	-8,463
Net cash from investing activities	-453,218	-317,726	-540,867
Cash flows from financing activities
Proceeds from issuance of Senior Notes and Term Loan Facility	1,710,550	0	0
Repayment of Term Loan Facility	-1,625	0	0
Purchase of Senior Notes	-65,354	0	0
Dividends paid	-11,075	0	0
Debt issuance costs	-19,253	-2,484	-5,221
Net transfers to parent	-2,698,295	-1,757,554	770,567
Net cash from financing activities	-223,580	-538,706	130,154
Net change in cash and cash equivalents	20,191	-33,957	-5,229
Cash and cash equivalents, beginning of period	36,581	70,538	75,767
Cash and cash equivalents, end of period	56,772	36,581	70,538
Supplemental information for non-cash activities
Transfer from parent of property and equipment	18,124	16,057	5,310
Transfer from parent of other assets	0	0	987
Total Non-Cash Transfers from Parent	18,124	16,057	6,297
Predecessor
Cash flows from operating activities
Net income (loss)	237,428
Cash flows from investing activities
Capital expenditures		-366,000
Cash flows from financing activities
Net change in borrowings on credit facilities	707,472	1,221,332	-635,192
Successor
Cash flows from operating activities
Net income (loss)	-884,233
Cash flows from financing activities
Net change in borrowings on credit facilities	$154,000	$0	$0

Consolidated_and_Combined_Stat3

Consolidated and Combined Statements of Changes in Equity (USD $)	Total	Predecessor	Successor	Ordinary Shares	Additional Paid-in Capital	Retained Earnings	Retained Earnings	Accumulated Other Comprehensive (Loss)/Gain	Net Parent Investment	Net Parent Investment	Total Stockholders' Equity and Net Parent Investment	Total Stockholders' Equity and Net Parent Investment	Total Stockholders' Equity and Net Parent Investment	Noncontrolling Interest	Noncontrolling Interest
In Thousands, except Share data, unless otherwise specified	Total	Predecessor	Successor	Ordinary Shares	Additional Paid-in Capital	Retained Earnings	Successor	Accumulated Other Comprehensive (Loss)/Gain	Net Parent Investment	Predecessor	Total Stockholders' Equity and Net Parent Investment	Predecessor	Successor	Noncontrolling Interest	Successor
Balance at Dec. 31, 2011	$2,441,823			$0	$0	$0		($1,928)	$2,443,751		$2,441,823
Balance (in shares) at Dec. 31, 2011				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	126,237								126,237		126,237
Net transfers to parent	795,429								795,429		795,429
Other comprehensive income, net	1,743							1,743			1,743
Balance at Dec. 31, 2012	3,365,232			0	0	0		-185	3,365,417		3,365,232
Balance (in shares) at Dec. 31, 2012				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	360,305								360,305		360,305
Net transfers to parent	-1,720,383								-1,720,383		-1,720,383
Other comprehensive income, net	179							179			179
Balance at Dec. 31, 2013	2,005,333			0	0	0		-6	2,005,339		2,005,333			0
Balance (in shares) at Dec. 31, 2013				0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	-646,805	237,428	-884,233				-884,174			237,428		237,428	-884,174		-59
Net changes in parent investment	-855,249								-855,249		-855,249
Distribution by former parent (in shares)	84,753,000			84,753,000
Distribution by former parent				848	1,417,119			-30,449	-1,387,518
Stock-based compensation	7,689				7,689						7,689
Dividends paid	-11,075					-11,075					-11,075
Acquisition of Prospector	11,311							-40			-40			11,351
Acquisition of Prospector non-controlling interest	-10,306				-1,655						-1,655			-8,651
Other comprehensive income, net	-6,649							-6,649			-6,649
Balance at Dec. 31, 2014	$494,249			$848	$1,423,153	($895,249)		($37,144)	$0		$491,608			$2,641
Balance (in shares) at Dec. 31, 2014	84,753,393			84,753,000

Organization_and_Basis_of_Pres

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	ORGANIZATION AND BASIS OF PRESENTATION
	Paragon Offshore plc (together with its subsidiaries, “Paragon,” the “Company,” “we,” “us” or “our”) is a global provider of offshore drilling rigs with a fleet that currently includes 34 jackups and six floaters (four drillships and two semisubmersibles). We refer to our semisubmersibles and drillships collectively as “floaters.” Our primary business is to contract our drilling rigs, related equipment and work crews to conduct oil and gas drilling and workover operations for our exploration and production customers on a dayrate basis around the world.
	Spin-off Transaction
	On July 17, 2014, Paragon Offshore Limited, an indirect wholly owned subsidiary of Noble Corporation plc (“Noble”) incorporated under the laws of England and Wales, re-registered under the Companies Act 2006 as a public limited company under the name of Paragon Offshore plc. Noble transferred to us the assets and liabilities (the “Separation”) constituting most of Noble’s standard specification drilling units and related assets, liabilities and business. On August 1, 2014, Noble made a pro rata distribution to its shareholders of all of our issued and outstanding ordinary shares (the “Distribution” and, collectively with the Separation, the “Spin-Off”). In connection with the Distribution, Noble shareholders received one ordinary share of Paragon for every three ordinary shares of Noble owned.
	Acquisition of Prospector Offshore Drilling S. A.
	On November 17, 2014, Paragon acquired 89.3 million, or 94.4%, of the outstanding shares of Prospector Offshore Drilling S.A. (“Prospector”), an offshore drilling company organized in Luxembourg and traded on the Oslo Axess, from certain shareholders and in open market purchases for approximately $190 million in cash. In December 2014, we purchased an additional 4.1 million shares for approximately $10 million in cash, increasing our ownership to approximately 93.4 million shares, or 98.7%, of the outstanding shares of Prospector. On January 22, 2015, we settled a mandatory tender offer for additional outstanding shares, increasing our ownership to approximately 99.6% of the outstanding shares of Prospector. On February 23, 2015, we acquired all remaining issued and outstanding shares in Prospector pursuant to the laws of Luxembourg. We spent approximately $202 million in aggregate to acquire 100% of Prospector and funded the purchase of the shares of Prospector using proceeds from our revolving credit facility and cash on hand.
	The Prospector acquisition expanded and enhanced our global fleet by adding two high specification jackups contracted to Total E&P U.K. Limited and Elf Exploration U.K. Limited (“Total S.A.”) for use in the United Kingdom sector of the North Sea. In connection with our acquisition of Prospector, we acquired subsidiaries that contracted for the construction of three newbuild high specification jackup rigs by Shanghai Waigaoqiao Ship Co. Ltd. (“SWS”) in China. These rigs are currently scheduled for delivery in April 2015, September 2015 and March 2016, respectively. Each newbuild is being built pursuant to a contract between one of these subsidiaries and SWS, without a Paragon or Prospector parent company guarantee or other direct recourse to any other subsidiary of Paragon other than the applicable subsidiary. Prospector's results of operations are included in our results beginning on November 17, 2014.
	Basis of Presentation
	The consolidated and combined financial information contained in this report includes periods that ended prior to the Spin-Off on August 1, 2014. For all periods prior to the Spin-Off, the combined financial statements and related discussion of financial condition and results of operations contained in this report pertain to the historical results of the Noble Standard-Spec Business (our “Predecessor”), which comprised the entire standard specification drilling fleet and related operations of Noble. Our Predecessor’s historical combined financial statements include three standard specification drilling units that were retained by Noble and three standard specification drilling units that were sold by Noble prior to the Separation.
	Our Predecessor’s historical combined financial statements for the periods prior to the Spin-Off include assets and liabilities that are specifically identifiable or have been allocated to our Predecessor. Revenues and costs directly related to our Predecessor have been included in the accompanying consolidated and combined financial statements. Our Predecessor received service and support functions from Noble and the costs associated with these support functions have been allocated to our Predecessor using various inputs, such as head count, services rendered, and assets assigned to our Predecessor. Our management considers the allocation methodologies used to be reasonable and appropriate reflections of the related expenses attributable to us for purposes of the carve-out financial statements; however, the expenses reflected in the results of our Predecessor and included in these consolidated and combined statements may not be indicative of the actual expenses that would have been incurred during the periods presented if our Predecessor had operated as a separate standalone entity and may not be indicative of expenses that will be incurred in the future by us. These allocated costs are primarily related to corporate administrative expenses including executive oversight, employee related costs including pensions and other benefits, and corporate and shared employees for the following functional groups:

	•	information technology,

	•	legal, accounting, finance and treasury services,

	•	human resources,

	•	marketing, and

	•	other corporate and infrastructural services.
	We consolidate the historical combined financial results of our Predecessor in our consolidated and combined financial statements for all periods prior to the Spin-Off. All financial information presented after the Spin-Off represents the results of operations, financial position and cash flows of Paragon. Accordingly:

	•	Our Consolidated and Combined Statements of Income and Comprehensive Income for the year ended December 31, 2014 consist of the consolidated results of Paragon for the five months ended December 31, 2014 and the combined results of our Predecessor for the prior months. Our Combined Statements of Income and Comprehensive Income for the years ended December 31, 2013 and 2012 consist entirely of the combined results of our Predecessor. Our net income for the periods prior to July 31, 2014 was recorded to “Net parent investment.”

	•	Our Consolidated and Combined Balance Sheet at December 31, 2014 consists of the balances of Paragon, while at December 31, 2013, the Combined Balance Sheet consists of the balances of our Predecessor.

	•	Our Consolidated and Combined Statement of Cash Flows for the year ended December 31, 2014 consists of the consolidated results of Paragon for the five months ended December 31, 2014, and the combined results of our Predecessor for prior months. Our Combined Statement of Cash Flows for the years ended December 31, 2013 and 2012 consist entirely of the combined results of our Predecessor.

	•	Our Consolidated and Combined Statement of Changes in Equity for the year ended December 31, 2014 consists of both the activity for Paragon completed in connection with, and subsequent to, the Distribution on August 1, 2014 through the five months ended December 31, 2014 and for our Predecessor for the prior months. Our Combined Statements of Changes in Equity for the years ended December 31, 2013 and 2012 consist of activity for our Predecessor recorded to “Net parent investment.”
	As our Predecessor previously operated within Noble’s corporate cash management program for all periods prior to the Distribution, funding requirements and related transactions between our Predecessor and Noble have been summarized and reflected on our consolidated and combined balance sheet as “Net parent investment” without regard to whether the funding represents a receivable, liability or equity. Based on the terms of our Separation from Noble, we ceased being a part of Noble’s corporate cash management program. Any transactions with Noble after August 1, 2014 have been, and will continue to be, cash settled in the ordinary course of business, and such amounts are included in “Accounts payable” on our consolidated and combined balance sheet.
	Our working capital and capital expenditure requirements have historically been part of the corporate-wide cash management program for Noble. After the Distribution, we have been solely responsible for the provision of funds to finance our working capital and other cash requirements. We expect our primary sources of liquidity in the future will be cash generated from operations, our Revolving Credit Facility and any future financing arrangements, if necessary. Our principal uses of liquidity will be to fund our operating expenditures and capital expenditures, including major projects, upgrades and replacements to drilling equipment, to service our outstanding indebtedness, acquisitions and to pay future dividends.
	At December 31, 2014, we had $57 million of cash on hand and $634 million of committed financing available under our Revolving Credit Facility, which will expire in 2019. In January 2015, we repurchased $99.6 million par value of the Prospector Bonds at a price of 101% of par. As of March 12, 2015, approximately $0.4 million par value of Prospector Bonds remained outstanding. We are also currently in discussions with lenders to waive the prepayment requirement for the Prospector Senior Credit Facility of $270 million beyond March 16, 2015. In the event these lenders do not waive the prepayment requirement, we will repay in full the remaining principal balance outstanding under the Prospector Senior Credit Facility (approximately $260 million on March 12, 2015) through the use of cash on hand and borrowings under our Revolving Credit Facility.
	At December 31, 2014, we have purchase commitments of $400 million and $199 million currently due in 2015 and 2016, respectively, related to three high specification jack up rigs under construction. Each of these rigs is being built pursuant to a contract between a subsidiary of Prospector and the shipyard, without a Paragon or Prospector parent company guarantee or other direct recourse to any other subsidiary of Paragon other than the applicable subsidiary. We are currently in discussions with the shipyard to extend delivery of these contracts. In the event we are unable to extend delivery, we will lose ownership of each rig individually. At that point, the associated costs currently capitalized (representing down-payments on these rigs) on our balance sheet totaling $32 million for all three rigs will be written off.
	Our debt facilities are subject to financial and non-financial covenants. While we believe we will satisfy our covenants, current and foreseeable market conditions may prevent us from maintaining compliance at the December 31, 2015 measurement date. The current low oil price environment is having an impact on contract renewal rates and an extended downturn in our industry could be exacerbated by an oversupply of new rigs in the medium term. However, we believe that there are proactive measures we can take that are within our control to prevent us from breaching these financial and non-financial covenants, such as reducing our operating and capital expenses, and/or designating certain of the Prospector subsidiaries as restricted subsidiaries under our debt agreements, which would allow us to include such subsidiaries’ financial results in these covenant calculations of our debt agreements, or seek waiver on the covenants from our lenders.
	Our operating cash flows, including collection of receivables outstanding at December 31, 2014, coupled with financing available under the Revolving Credit Facility will be sufficient to meet our liquidity needs for at least the next 12 months. Our ability to continue to fund our operations will be affected by general economic, competitive and other factors, many of which are outside of our control and becoming more challenging in the current market environment. If our future cash flows from operations and other capital resources are insufficient to fund our liquidity needs, we may be forced to reduce or delay our capital and operational expenditures, sell assets, obtain additional debt or equity financing, or refinance all or a portion of our debt.
	Separation from Noble
	Prior to the Spin-off, our total equity represented the cumulative net parent investment by Noble, including any prior net income attributable to our Predecessor as part of Noble. At the Spin-off, Noble contributed its entire net parent investment in our Predecessor. Concurrent with the Spin-off and in accordance with the terms of our Separation from Noble, certain assets and liabilities were transferred between us and Noble, which have been recorded as part of the net capital contributed by Noble. The following table presents the opening balance sheet of our Predecessor as of August 1, 2014 that was distributed to us in connection with the Spin-Off.


			August 1,
	(In thousands, except share amounts)		2014
	ASSETS
	Current assets
	Cash and cash equivalents		$	104,152

	Accounts receivable		377,324

	Prepaid and other current assets		126,264

	Total current assets		607,740

	Property and equipment, at cost		5,615,161

	Accumulated depreciation		(2,640,273		)
	Property and equipment, net		2,974,888

	Other assets		102,419

	Total assets		$	3,685,047

	LIABILITIES AND EQUITY
	Current liabilities
	Current maturities of long-term debt		$	4,875

Accounts payable		129,952

Accrued payroll and related costs		67,256

Taxes payable		53,384

Interest payable		3,770

Other current liabilities		117,887

Total current liabilities		377,124

Long-term debt		1,725,125

Deferred income taxes		79,659

Other liabilities		115,621

Total liabilities		2,297,529


Equity
Ordinary shares		848

Additional paid-in capital		1,417,119

Accumulated other comprehensive loss		(30,449		)
Total equity		1,387,518

Total liabilities and equity		$	3,685,047

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2014
Accounting Policies [Abstract]
Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Combination and Consolidation
	The consolidated and combined financial statements include our accounts, those of our wholly-owned subsidiaries and entities in which we hold a controlling financial interest. The combined financial statements of our Predecessor include our net assets and results of our operations as previously described. All significant intercompany accounts and transactions have been eliminated in combination and consolidation.
	Foreign Currency Translation
	We define foreign currency as any non-U.S. denominated currency. In non-U.S. locations where the U.S. dollar has been designated as the functional currency (based on an assessment of the economic circumstances of the foreign operation), local currency transaction gains and losses are included in net income. In non-U.S. locations where the local currency is the functional currency, assets and liabilities are translated at the rates of exchange on the balance sheet date, while income and expense items are translated at average rates of exchange during the year. The resulting gains or losses arising from the translation of accounts from the functional currency to the U.S. dollar are included in “Accumulated other comprehensive loss” in the accompanying consolidated and combined balance sheets. We did not recognize any material gains or losses on foreign currency transactions or translations during the years ended December 31, 2014, 2013 or 2012.
	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand, demand deposits with banks and all highly liquid investments with original maturities of three months or less. Our cash, cash equivalents and short-term investments are subject to potential credit risk, and certain of our cash accounts carry balances greater than federally insured limits. Cash and cash equivalents are primarily held by major banks or investment firms. Our cash management and investment policies restrict investments to lower risk, highly liquid securities and we perform periodic evaluations of the relative credit standing of the financial institutions with which we conduct business.
	Fair Value Measurements
	We estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Our valuation techniques require inputs that we categorize using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: (1) unadjusted quoted prices for identical assets or liabilities in active markets (“Level 1”), (2) direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets (“Level 2”) and (3) unobservable inputs that require significant judgment for which there is little or no market data (“Level 3”). When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the measurement even though we may have also utilized significant inputs that are more readily observable.
	Our cash and cash equivalents, accounts receivable and accounts payable are by their nature short-term. As a result, the carrying values included in the accompanying consolidated and combined balance sheets approximate fair value.
	Property and Equipment, at Cost
	Property and equipment is stated at cost, reduced by provisions to recognize economic impairment in value whenever events or changes in circumstances indicate an asset’s carrying value may not be recoverable. Major replacements and improvements are capitalized. When assets are sold, retired or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and the gain or loss is recognized. Drilling equipment and facilities are depreciated using the straight-line method over their estimated useful lives as of the date placed in service or date of major refurbishment. Estimated useful lives of our drilling equipment range from three to thirty years. Other property and equipment is depreciated using the straight-line method over useful lives ranging from two to twenty-five years. Included in accounts payable were $24 million and $29 million of capital accruals as of December 31, 2014 and 2013, respectively.
	Scheduled maintenance of equipment is performed based on the number of hours operated in accordance with our preventative maintenance program. Routine repair and maintenance costs are charged to expense as incurred; however, the costs of overhauls and asset replacement projects that benefit future periods and which typically occur every three to five years are capitalized when incurred and depreciated over an equivalent period. These overhauls and asset replacement projects are included in “Property and equipment, at cost” in our consolidated and combined balance sheets. Such amounts, net of accumulated depreciation, totaled $193 million and $211 million at December 31, 2014 and 2013, respectively. Depreciation expense related to overhauls and asset replacement totaled $85 million, $76 million and $66 million for the years ended December 31, 2014, 2013 and 2012, respectively.
	We evaluate the impairment of property and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In addition, on an annual basis, we complete an impairment analysis on all of our rigs. An impairment loss on our property and equipment exists when the estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. Any impairment loss recognized represents the excess of the asset’s carrying value over the estimated fair value. As part of this analysis, we make assumptions and estimates regarding future market conditions. To the extent actual results do not meet our estimated assumptions we may take an impairment loss in the future (see Note 6, “Property and Equipment”).
	Debt Issuance Costs
	Deferred debt issuance costs are amortized through interest expense over the life of the debt securities.
	Revenue Recognition
	Our typical dayrate drilling contracts require our performance of a variety of services for a specified period of time. We determine progress towards completion of the contract by measuring efforts expended and the cost of services required to perform under a drilling contract, as the basis for our revenue recognition. Revenues generated from our dayrate basis drilling contracts and labor contracts are recognized on a per day basis as services are performed and begin upon the contract commencement, as defined under the specified drilling or labor contract. Dayrate revenues are typically earned, and contract drilling expenses are typically incurred ratably over the term of our drilling contracts. We review and monitor our performance under our drilling contracts to confirm the basis for our revenue recognition. Revenues from bonuses are recognized when earned.
	It is typical in our dayrate drilling contracts to receive compensation and incur costs for mobilization, equipment modification, or other activities prior to the commencement of the contract. Any such compensation may be paid through a lump-sum payment or other daily compensation. Pre-contract compensation and costs are deferred until the contract commences. The deferred pre-contract compensation and costs are amortized, using the straight-line method, into income over the term of the initial contract period, regardless of the activity taking place. This approach is consistent with the economics for which the parties have contracted. Once a contract commences, we may conduct various activities, including drilling and well bore related activities, rig maintenance and equipment installation, movement between well locations or other activities.
	Deferred revenues from drilling contracts totaled $9 million at December 31, 2014 as compared to $22 million at December 31, 2013. Such amounts are included in either “Other current liabilities” or “Other liabilities” in our consolidated and combined balance sheets, based upon the expected time of recognition of such deferred revenues. Deferred costs associated with deferred revenues from drilling contracts totaled $2 million at December 31, 2014 as compared to $24 million at December 31, 2013. Such amounts are included in either “Prepaid and other current assets” or “Other assets” in our consolidated and combined balance sheets, based upon the expected time of recognition of such deferred costs.
	We record reimbursements from customers for “out-of-pocket” expenses as revenues and the related direct cost as operating expenses.
	Income Taxes
	We operate through various subsidiaries in numerous countries throughout the world. Due to our global presence, we are subject to tax laws, policies, treaties and regulations, as well as the interpretation or enforcement thereof, in the United Kingdom, the U.S., and any other jurisdictions in which we or any of our subsidiaries operate, are incorporated, or otherwise considered to have a tax presence. Our income tax expense is based upon our interpretation of the tax laws in effect in various countries at the time that the expense was incurred. If the taxing authorities do not agree with our assessment of the effects of such laws, policies, treaties and regulations, or the interpretation or enforcement thereof, this could have a material adverse effect on us including the imposition of a higher effective tax rate on our worldwide earnings or a reclassification of the tax impact of our significant corporate restructuring transactions.
	The operations of our Predecessor have been included in certain income tax returns of Noble. The income tax provisions and related deferred tax assets and liabilities that have been reflected in our Predecessor’s historical combined financial statements have been computed as if our Predecessor were a separate taxpayer using the separate return method. As a result, actual tax transactions that would not have occurred had our Predecessor been a separate entity have been eliminated in the preparation of these consolidated and combined financial statements. Income taxes of our Predecessor include results of the operations of the standard specification drilling units. In instances where the operations of the standard specification drilling units of our Predecessor were included in the filing of a return with high specification units, an allocation of income taxes was made.
	In certain jurisdictions, we have recognized deferred tax assets and liabilities. Judgment and assumptions are required in determining whether deferred tax assets will be fully or partially utilized. When we estimate that all or some portion of certain deferred tax assets such as net operating loss carryforwards will not be utilized, we establish a valuation allowance for the amount ascertained to be unrealizable. We continually evaluate strategies that could allow for future utilization of our deferred tax assets. Any change in the ability to utilize such deferred tax assets will be accounted for in the period of the event affecting the valuation allowance. If facts and circumstances cause us to change our expectations regarding future tax consequences, the resulting adjustments could have a material effect on our financial results or cash flow.
	In certain circumstances, we expect that, due to changing demands of the offshore drilling markets and the ability to redeploy our offshore drilling units, certain units will not reside in a location long enough to give rise to future tax consequences. As a result, no deferred tax asset or liability has been recognized in these circumstances. Should our expectations change regarding the length of time an offshore drilling unit will be used in a given location, we will adjust deferred taxes accordingly.
	Earnings/Loss per Share
	Our unvested share-based payment awards, which contain non-forfeitable rights to dividends, are participating securities and are included in the computation of earnings per share pursuant to the “two-class” method. The “two-class” method allocates undistributed earnings between ordinary shares and participating securities; however, in a period of net loss, losses are not allocated to our participating securities. The diluted earnings per share calculation under the “two-class” method would also includes the dilutive effect of potential shares issued in connection with stock options. The dilutive effect of stock options would be determined using the treasury stock method. The diluted earnings per share calculation under the two class method is the same as our basic earnings per share calculation as we currently have no stock options or other potentially dilutive securities outstanding.
	Share-Based Compensation Plans
	We record the grant date fair value of share-based compensation arrangements as compensation cost using a straight-line method over the service period. Share-based compensation is expensed or capitalized based on the nature of the employee’s activities.
	Certain Significant Estimates and Contingent Liabilities
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Certain accounting policies involve judgments and uncertainties to such an extent that there is reasonable likelihood that materially different amounts could have been reported under different conditions, or if different assumptions had been used. We evaluate our estimates and assumptions on a regular basis. We base our estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates and assumptions used in preparation of our consolidated and combined financial statements included elsewhere in this Annual Report on Form 10-K.
	Reclassifications
	Certain amounts in prior periods have been reclassified to conform to the current year presentation.

Acquisition

Acquisition	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Acquisition	ACQUISITION
	On November 17, 2014, Paragon acquired 89.3 million, or 94.4%, of the outstanding shares of Prospector Offshore Drilling S.A. (“Prospector”), an offshore drilling company organized in Luxembourg and traded on the Oslo Axess, from certain shareholders and in open market purchases for approximately $190 million in cash. In December 2014, we purchased an additional 4.1 million shares for approximately $10 million in cash, increasing our ownership to approximately 93.4 million shares, or 98.7%, of the outstanding shares of Prospector. On January 22, 2015, we settled a mandatory tender offer for additional outstanding shares, increasing our ownership to approximately 99.6% of the outstanding shares of Prospector. On February 23, 2015, we acquired all remaining issued and outstanding shares in Prospector pursuant to the laws of Luxembourg. We spent approximately $202 million in aggregate to acquire 100% of Prospector and funded the purchase of the shares of Prospector using proceeds from our revolving credit facility and cash on hand.
	The Prospector acquisition expanded and enhanced our global fleet by adding two high specification jackups contracted to Total S.A. for use in the United Kingdom sector of the North Sea. In connection with our acquisition of Prospector, we acquired subsidiaries that contracted for the construction of three newbuild high specification jackup rigs by Shanghai Waigaoqiao Ship Co. Ltd. (“SWS”) in China. These rigs are currently scheduled for delivery in April 2015, September 2015 and March 2016, respectively. Each newbuild is being built pursuant to a contract between one of these subsidiaries and SWS, without a Paragon or Prospector parent company guarantee or other direct recourse to any other subsidiary of Paragon other than the applicable subsidiary. Prospector's results of operations are included in our results beginning on November 17, 2014.
	Accounting for business combinations requires that the various assets acquired and liabilities assumed in a business combination be recorded at their respective fair values. The most significant estimates to us typically relate to acquired property and equipment. Deferred taxes are recorded for any differences between the fair value and tax basis of assets acquired and liabilities assumed. To the extent the purchase price plus the liabilities assumed (including deferred income taxes recorded in connection with the transaction) exceeds the fair value of the net assets acquired, we are required to record the excess as goodwill. As the fair value of assets acquired and liabilities assumed is subject to significant estimates and subjective judgments, the accuracy of this assessment is inherently uncertain. The following table summarizes our allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the acquisition date of November 17, 2014:


	(In thousands)		Fair Value
	ASSETS
	Current assets
	Accounts receivable		$	26,169

	Restricted cash		5,023

	Prepaid and other current assets		17,967

	Total current assets		49,159

	Property and equipment		516,979

	Goodwill		13,290

	Other assets		25,520

	Total assets acquired		$	604,948

	LIABILITIES
	Current liabilities
	Current maturities of long-term debt		$	32,970

	Accounts payable		16,227

	Accrued payroll and related costs		3,754

	Taxes payable		4,378

	Interest payable		6,466

	Other current liabilities		19,120

	Total current liabilities		82,915

	Long-term debt		333,697

	Other liabilities		456

	Total liabilities assumed		$	417,068

	Accumulated other comprehensive loss		(40		)
	Non-controlling interest		11,351

	Purchase price, net of cash acquired		$	176,569

	The fair value of cash and cash equivalents, accounts receivable, other current assets, accounts payable and other current liabilities was generally determined using historical carrying values given the short-term nature of these items. The fair values of drilling equipment and in-place contracts were determined using management’s estimates of future net cash flows. Such estimated future cash flows were discounted at an appropriate risk-adjusted rate of return. The fair values of the consolidated derivatives were determined based on a discounted cash flow model utilizing an appropriate market or risk-adjusted yield. The fair value of other assets and other liabilities, related to long-term tax items, was derived using estimates made by management. Fair value estimates for in-place contracts are recorded in “Prepaid and other current assets” and “Other assets” in our consolidated and combined balance sheet and will be amortized over the life of the respective contract. The average life of these contracts totaled approximately 2.5 years as of the date of the acquisition.
	Our purchase price allocation is preliminary. The preliminary allocation of the purchase consideration is based on management's estimates, judgments and assumptions. These estimates, judgments and assumptions are subject to change upon final valuation and should be treated as preliminary values. Management estimated that consideration paid exceeds the fair value of the net assets acquired. Therefore, goodwill of $13 million was recorded. The final allocation of purchase consideration could include changes in the estimated fair value of income tax obligations.
	As of December 31, 2014, we have incurred $4 million in acquisition costs related to the Prospector acquisition. These costs have been expensed and are included in contract drilling services expense.

	The following unaudited pro forma financial information for the year ended December 31, 2014 and 2013, gives effect to the Prospector acquisition as if it had occurred at the beginning of the periods presented. The pro forma financial information for the year ended December 31, 2014 includes pro forma results for the period prior to the closing date of November 17, 2014 and actual results for the period from November 17, 2014 through December 31, 2014. The pro forma results are based on historical data and are not intended to be indicative of the results of future operations.



	(In thousands, except per share amounts)		2014				2013
	Total operating revenues		$	42,456			$	4,200

	Net loss		(55,802		)		(16,050		)
Net loss to Paragon Offshore		(55,054		)		(15,835		)
Loss per share (basic and diluted)		$	(0.65	)		$	(0.19	)

Revenues from the Prospector rigs totaled $8 million from the closing date of November 17, 2014 through December 31, 2014. Operating expenses for this same period totaled $8 million for the Prospector rigs.

EarningsLoss_Per_Share

Earnings/Loss Per Share	12 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
Earnings/Loss Per Share	EARNINGS/LOSS PER SHARE
	Our outstanding share-based payment awards currently consist solely of restricted stock units. These unvested restricted stock units, which contain non-forfeitable rights to dividends, are participating securities and are included in the computation of earnings per share pursuant to the “two-class” method. The “two-class” method allocates undistributed earnings between ordinary shares and participating securities; however, in a period of net loss, losses are not allocated to our participating securities.
	On August 1, 2014, approximately 85 million of our ordinary shares were distributed to Noble’s shareholders in conjunction with the Spin-Off. Weighted average shares outstanding, basic and diluted, has been computed based on the weighted average number of ordinary shares outstanding during the applicable period. Restricted stock units do not represent ordinary shares outstanding until they are vested and converted into ordinary shares. The diluted earnings per share calculation under the two class method is the same as our basic earnings per share calculation as we currently have no stock options or other potentially dilutive securities outstanding.
	No earnings were allocated to unvested share-based payment awards in our earnings per share calculation for the year ended December 31, 2014 due to our net loss in the current year. Our basis of presentation related to weighted average unvested shares outstanding for all periods prior to the Spin-Off does not include our unvested restricted stock units that were granted to our employees in conjunction with Paragon's 2014 Employee Omnibus Incentive Plan. As a result, we also have no earnings allocated to unvested share-based payment awards in our earnings per share calculation for periods prior to the Spin-Off.
	The following table sets forth the computation of basic and diluted net income and earnings (loss) per share:


		Year Ended December 31,
	(In thousands, except per share amounts)	2014			2013		2012
	Allocation of income - basic and diluted
	Net income (loss) attributable to Paragon	$	(646,746	)	$	360,305	$	126,237

	Earnings allocated to unvested share-based payment awards	—			—		—

	Net income (loss) to ordinary shareholders - Basic and diluted	$	(646,746	)	$	360,305	$	126,237


	Weighted average shares outstanding
	Basic and diluted	84,753			84,753		84,753


	Earnings (loss) per share
	Basic and diluted	$	(7.63	)	$	4.25	$	1.49

ShareBased_Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION
	Predecessor Plan
	For all periods prior to the Spin-Off, our Predecessor was managed in the normal course of business by Noble and its subsidiaries. Noble provides a stock-based compensation plan that is granted and settled in stock of Noble. The Noble plan permits the granting of various types of awards including stock options and restricted stock units. Prior to the Spin-off and to the extent that Company employees participated in these programs, the results of our Predecessor were allocated a portion of the associated expenses (see Note 16, “Related Parties (Including Relationship with Parent and Corporate Allocations)” for total costs allocated to us by Noble).
	Paragon employees’ participation in Noble’s 1991 Stock Option and Restricted Stock Plan (“Noble 1991 Plan”) was terminated as of our Separation from Noble at the time of the Distribution. The Noble 1991 Plan provided for the granting of options to purchase Noble shares and the awarding of restricted stock units in the form of both time-vested restricted stock units (“TVRSU’s”) and performance-vested restricted stock units (“PVRSU’s”).
	Upon termination in Noble’s 1991 Plan, our employees’ rights to exercise Noble stock options continues for up to the shorter of five years or the remaining term of the option and the vesting of each option was accelerated so that each option is now fully vested. Paragon has no outstanding stock option grants as of December 31, 2014 under this arrangement.
	All Noble TVRSU’s held by our employees under the Noble 1991 Plan were canceled at the Distribution. At the time of the Distribution, Paragon granted 2,675,839 TVRSU’s that were intended to be of equivalent value and remaining duration at the time with regard to such canceled awards.
	With respect to outstanding Noble PVRSU’s held by our employees under the Noble 1991 Plan, a portion of such PVRSU’s continues to be held by those employees and a portion has been canceled. This apportionment was based on the performance cycle that relates to each applicable Noble performance-vested restricted stock unit award, and the ratio of the number of months remaining in the award’s performance cycle after our Separation from Noble relative to the total number of months (i.e., 36 months) of such performance cycle. This ratio has been applied to each applicable grant of Noble PVRSU’s to determine the portion thereof that were canceled, the remainder of which were continued. With regard to the canceled portion of Noble PVRSU’s, we either granted the affected employee Paragon PVRSU’s that were intended to be of equivalent value and duration at the time of grant to the canceled portion of the Noble award, or provided the employee compensation of equivalent value to the benefit the employee would have received had the canceled portion of the Noble awards remained in effect. At the time of the Distribution, Paragon granted 277,118 PVRSU’s that were intended to be of equivalent value and remaining duration with regard to the canceled portion.
	Paragon Plans
	With respect to the cancellations described above, we have adopted new equity incentive plans for our employees and directors to administer replacement awards of Paragon TVRSU’s and PVRSU’s, as well as to provide for the granting of new awards for the periods following our Separation from Noble. On June 30, 2014, our board of directors at the time adopted the Paragon Offshore plc 2014 Employee Omnibus Incentive Plan (the “Employee Plan”), which was approved by Noble as Paragon Offshore’s sole stockholder on July 15, 2014 and became effective as of the date of the Distribution. Subject to certain adjustments, up to 8,475,340, or 10% of the number of Paragon Offshore’s outstanding shares at the time of the Distribution, were authorized under our Employee Plan for issuance to eligible participants in the form of stock options, stock appreciation rights, restricted stock (and in certain limited cases, unrestricted stock), restricted stock units, performance units and cash awards. On June 30, 2014, our board of directors at the time also adopted the Paragon Offshore plc 2014 Director Omnibus Plan (the “Director Plan”), which was approved by Noble as Paragon Offshore’s sole stockholder on July 15, 2014 and became effective as of the date of the Distribution. The maximum number of Paragon Offshore ordinary shares that may be subject to awards granted under the Director Plan is 500,000 shares, subject to certain adjustments. The Director Plan provides that our board of directors may award stock options, stock appreciation rights, restricted stock (and in certain limited cases, unrestricted stock), restricted stock units, performance units and cash awards to directors as it may determine from time to time.
	Shares available for issuance and outstanding restricted stock units for our two stock incentive plans as of December 31, 2014 are as follows:


	(In shares)		Employee Plan		Director Plan
	Shares available for future awards or grants		4,719,570		240,258

	Outstanding unvested restricted stock units		3,755,770		259,742

	As noted above, we have awarded both TVRSU’s and PVRSU’s under our Employee Plan and TVRSU's under our Director Plan. The TVRSU’s generally vest over a three year period. The number of PVRSU’s which vest will depend on the degree of achievement of specified corporate performance criteria over the service period.
	Our TVRSU's are valued on the date of award at our underlying share price. The total compensation for units that ultimately vest is recognized over the service period. The shares and related nominal value are recorded when the restricted stock unit vests and additional paid-in capital is adjusted as the share-based compensation cost is recognized for financial reporting purposes.
	Our PVRSU's are valued on the date of award at our underlying share price. Total compensation cost recognized for our PVRSU's depends on an accounting-based performance measure, return on capital employed (“ROCE”) over specified performance periods. Estimated compensation cost is determined based on numerous assumptions, including an estimate of the likelihood that our ROCE will achieve the targeted thresholds and forfeiture of the PVRSU's based on annualized ROCE performance over the terms of the awards.
	A summary of restricted stock activity for the year ended December 31, 2014 is as follows:


			TVRSU's Outstanding		Weighted		PVRSU's		Weighted
					Average		Outstanding (1)		Average
					Award-Date				Award-Date
					Fair Value				Fair Value
	Outstanding at August 1, 2014		—		$	—	—		$	—

	Awarded		3,894,601		10.54		277,118		11

	Vested		—		—		—		—

	Forfeited		(140,835	)	10.7		(15,372	)	11

	Outstanding at December 31, 2014		3,753,766		$	10.54	261,746		$	11


	-1	The number of PVRSU’s shown equals the units that would vest if the “maximum” level of performance is achieved. The minimum number of units is zero and the “target” level of performance is 50% of the amounts shown.
	Share-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as compensation cost using a straight-line method over the service period. Share-based amortization recognized during the five months ended December 31, 2014, not including amounts allocated to our Predecessor, totaled $7.7 million. At December 31, 2014, there was $26 million of total unrecognized compensation cost related to our TVRSU’s which is expected to be recognized over a remaining weighted-average period of 1.8 years. At December 31, 2014, there was $1 million of total unrecognized compensation cost related to our PVRSU’s which is expected to be recognized over a remaining weighted-average period of 1.7 years. The total potential compensation for our PVRSU’s is recognized over the service period regardless of whether the performance thresholds are ultimately achieved.

Property_and_Equipment

Property and Equipment	12 Months Ended
Property and Equipment	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Property and Equipment	PROPERTY AND EQUIPMENT
	Property and equipment is stated at cost. Interest incurred related to property under construction including major overhaul, improvement and asset replacement projects is capitalized as a component of construction costs. Interest capitalized in our Predecessor’s results relates to Noble’s revolving credit facilities and commercial paper program, while interest capitalized in Paragon’s results relates to our Senior Notes and Term Loan Facility (each as defined in Note 7, “Debt”). Our capital expenditures, including capitalized interest, totaled $262 million for the year ended December 31, 2014, as compared to historical Predecessor capitalized expenditures, including capitalized interest, of $366 million for the year ended December 31, 2013.
	Interest expense capitalized in these consolidated and combined financial statements for the year ended December 31, 2014 was $3 million, as compared to Predecessor capitalized interest of $6 million for the year ended December 31, 2013.
	Loss on Impairment
	We evaluate the impairment of property and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In addition, on an annual basis, we complete an impairment analysis on all of our rigs. An impairment loss on our property and equipment exists when the estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. Any impairment loss recognized represents the excess of the asset’s carrying value over the estimated fair value. As part of this analysis, we make assumptions and estimates regarding future market conditions. To the extent actual results do not meet our estimated assumptions, we may take an impairment loss in the future.
	During 2014, we identified indicators of impairment, including lower crude oil prices, a decrease in contractual activities particularly for floating rigs, and resultant projected declines in dayrates and utilization. We concluded that a triggering event occurred requiring us to perform an impairment analysis of our fleet of drilling rigs. We compared the net book value of our drilling rigs to the relative recoverable value, which was determined using an undiscounted cash flow analysis. As a result of this analysis, we determined that the Paragon DPDS1, Paragon DPDS2 and Paragon DPDS3 drilling rigs were impaired. We calculated the fair value of these drilling rigs after considering quotes from rig brokers, a cost approach and an income approach, which utilized significant unobservable inputs, representative of a Level 3 fair value measurement, including assumptions related to estimated dayrate revenue, rig utilization and anticipated costs for the remainder of the rigs’ useful lives. Additionally, we decided to scrap the Paragon FPSO1, Paragon MSS3, Paragon B153 and Paragon DPDS4. We recognized an impairment on these units after we determined the fair values based on quotes from brokers, price indications from potential interested buyers, and estimates of salvage values. Based on the above analysis, our estimates of fair value resulted in the recognition of an impairment loss of $1.1 billion for the year ended December 31, 2014, of which $130 million was recognized in the fourth quarter of 2014.
	During 2013, our Predecessor determined that the Paragon FPSO, formerly the Noble Seillean, was partially impaired as a result of it's annual impairment test and the current market outlook for this unit. Our Predecessor estimated the fair value of this unit by considering both income and market-based valuation approaches utilizing statistics for comparable rigs (Level 2 fair value measurement). Based on these estimates, our Predecessor recognized a charge of $40 million for the year ended December 31, 2013.
	Also in 2013, our Predecessor recorded an impairment charge on two cold stacked submersible rigs. These rigs had been impaired in 2011 due to the declining market outlook for drilling services for that rig type; however, in 2013 an additional impairment charge of approximately $4 million was recorded as a result of the potential disposition of these assets to an unrelated third party. These submersible rigs were sold by our Predecessor in January 2014.
	Gain on Disposal of Assets, net
	During the third quarter of 2013, our Predecessor completed the sale of the Noble Lewis Dugger for $61 million to an unrelated third party in Mexico. In connection with the sale, our Predecessor recorded a pre-tax gain of approximately $36 million.

Debt

Debt	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Debt	DEBT
	A summary of long-term debt at December 31, 2014 and 2013 is as follows:


			December 31,				December 31,
	(In thousands)		2014				2013
	Senior Notes due 2022, bearing fixed interest at 6.75% per annum		$	457,572			$	—

	Senior Notes due 2024, bearing fixed interest at 7.25% per annum		537,010				—

	Term Loan Facility, bearing interest at 3.75%, net of unamortized discount		645,357				—

	Revolving Credit Facility		154,000				—

	Prospector 2019 Second Lien Callable Bond		101,000				—

	Prospector 2018 Senior Secured Credit Facility		265,666				—

	Noble Credit Facilities / Commercial Paper Program		—				1,561,141

	Less: Current maturities of long-term debt		(272,166		)		—

			$	1,888,439			$	1,561,141

	Predecessor Debt
	Our Predecessor was supported by Noble’s three separate credit facilities which had an aggregate maximum available capacity of $2.9 billion (collectively, the “Noble Credit Facilities”). Predecessor long-term debt consisted of the amount drawn on the Noble Credit Facilities. Noble established a commercial paper program, which allowed Noble to issue up to $2.7 billion in unsecured commercial paper notes. Amounts issued under the commercial paper program were supported by the unused capacity under the Noble Credit Facilities. The outstanding amounts of commercial paper reduce availability under the Noble Credit Facilities.
	As discussed below, Noble received approximately $1.7 billion in cash as settlement of intercompany notes in connection with the Separation. Noble used these proceeds to repay amounts outstanding under its commercial paper program. Accordingly, debt that is included in our Predecessor’s combined financial statements represents the amounts outstanding under Noble’s commercial paper program, and has been pushed down to our Predecessor in accordance with guidance of the SEC. The remaining outstanding debt not repaid from our Predecessor’s debt at the time of the settlement of the intercompany notes is considered as part of “Net parent investment” in our Predecessor.
	Paragon Debt
	On June 17, 2014, we entered into a senior secured revolving credit agreement with lenders that provided commitments in the amount of $800 million (the “Revolving Credit Facility”). The Revolving Credit Facility has a term of five years after the funding date. Borrowings under the Revolving Credit Facility bear interest, at our option, at either (i) an adjusted London Interbank Offered Rate (“LIBOR”), plus an applicable margin ranging between 1.50% to 2.50%, depending on our leverage ratio, or (ii) a base rate plus an applicable margin ranging between 1.50% to 2.50%. Under the Revolving Credit Facility, we may also obtain up to $800 million of letters of credit. Issuance of letters of credit under the Revolving Credit Facility would reduce a corresponding amount available for borrowing. As of December 31, 2014, we had $154 million in borrowings outstanding at a weighted-average interest rate of 2.89%. There was an aggregate amount of $12 million of letters of credit issued under the Revolving Credit Facility.
	On July 18, 2014, we issued $1.08 billion of senior notes (the “Senior Notes”) and also borrowed $650 million under a term loan facility (the “Term Loan Facility”). The Term Loan Facility is secured by all but three of our rigs. The proceeds from the Term Loan Facility and the Senior Notes were used to repay $1.7 billion of intercompany indebtedness to Noble incurred as partial consideration for the Separation. The Senior Notes consisted of $500 million of 6.75% senior notes and $580 million of 7.25% senior notes, which mature on July 15, 2022 and August 15, 2024, respectively. The Senior Notes were issued without an original issue discount. Borrowings under the Term Loan Facility bear interest at an adjusted LIBOR rate plus 2.75%, subject to a minimum LIBOR rate of 1% or a base rate plus 1.75%, at our option. We are required to make quarterly principal payments of $1.6 million and may prepay all or a portion of the term loans at any time. The Term Loan Facility matures in July 2021. The loans under the Term Loan Facility were issued with 0.5% original issue discount.
	In connection with the issuance of the aforementioned debt, we and our Predecessor incurred $35 million of issuance costs.
	The covenants and events of default under our Revolving Credit Facility, Senior Notes, and Term Loan Facility are substantially similar. The agreements governing these obligations contain covenants that place restrictions on certain merger and consolidation transactions; our ability to sell or transfer certain assets; payment of dividends; making distributions; redemption of stock; incurrence or guarantee of debt; issuance of loans; prepayment; redemption of certain debt; as well as incurrence or assumption of certain liens. In addition to these covenants, the Revolving Credit Facility includes a covenant requiring us to maintain a net leverage ratio (defined as total debt, net of cash and cash equivalents, divided by earnings excluding interest, taxes, depreciation and amortization charges) less than 4.00 to 1.00 and a covenant requiring us to maintain a minimum interest coverage ratio (defined as interest expense divided by earnings excluding interest, taxes, depreciation and amortization charges) greater than 3.00 to 1.00. As of December 31, 2014, we were in compliance with the covenants under our Revolving Credit Facility by maintaining a net leverage ratio of 2.0 and an interest coverage ratio of 8.3 (these calculations do not include the corresponding financial information from Prospector, which has been designated as a unrestricted subsidiary for purposes of our debt agreements). The impairment charge taken in the current quarter does not impact our debt covenant calculations because it is a non-cash charge and is excluded from our covenant calculations.
	During the year ended December 31, 2014, we repurchased and canceled an aggregate principal amount of $85 million of our Senior Notes at an aggregate cost of $67 million including accrued interest. The repurchases consisted of $42 million aggregate principal amount of our 6.75% senior notes due July 2022 and $43 million aggregate principal amount of our 7.25% senior notes due August 2024. As a result of the repurchases, we recognized a total gain on debt retirement, net of the write-off of issuance costs, of approximately $19 million in “Gain on repurchase of long-term debt.” All Senior Note repurchases were made using available cash balances.
	Subsequent to December 31, 2014, we repurchased and canceled an additional aggregate principal amount of $11 million of our Senior Notes at an aggregate cost of $7 million including accrued interest. The repurchases consisted of $1 million aggregate principal amount of our 6.75% senior notes due 2022 and $10 million aggregate principal amount of our 7.25% senior notes due 2024.
	Prospector Debt
	At the time of our acquisition of Prospector, Prospector had the following outstanding debt instruments: (i) 2019 Second Lien Callable Bond of $100 million (“Prospector Bonds”) and (ii) 2018 Senior Secured Credit Facility of $270 million (“Prospector Senior Credit Facility”).
	The Prospector Bonds were originally entered into by a subsidiary of Prospector on May 19, 2014 in the Oslo Alternative Bond Market. The Prospector Bonds had a fixed interest rate of 7.75% per annum, payable semi-annually on December 19 and June 19 each year and maturity of June 19, 2019. The Prospector Bonds were secured by a second priority mortgage on Prospector 1 and Prospector 5 and guaranteed by Prospector S.A. and certain subsidiaries. The Prospector Bonds have a provision that allows the bondholders to put their bonds back to Prospector at a price of 101% of the par value upon a Change of Control event. The put provision was triggered by our acquisition of a controlling interest in Prospector on November 17, 2014. Subsequent to December 31, 2014, the bondholders put $99.6 million par value of their bonds back to Prospector at the put price of 101% of par plus accrued interest. We funded the repayment of the debt using borrowings from our Revolving Credit Facility and available cash. The outstanding Prospector Bonds balance at December 31, 2014 was $101 million.
	The Prospector Senior Credit Facility was originally entered into by a subsidiary of Prospector on June 12, 2014 with a group of lenders. The Prospector Senior Credit Facility comprises a $140 million Prospector 5 tranche and a $130 million Prospector 1 tranche which were both fully drawn at the time of acquisition. At December 31, 2014, $140 million and $126 million were outstanding on the Prospector 5 and Prospector 1 tranches, respectively.
	The Prospector Senior Credit Facility is secured by a first priority mortgage on Prospector 1 and Prospector 5, and guaranteed by Prospector Offshore Drilling S.A. and certain subsidiaries. The Prospector Senior Credit Facility bears interest at LIBOR plus a margin of 3.5%. Prospector is required to hedge at least 50% of the Prospector Senior Credit Facility against fluctuations in the interest rate. As of December 31, 2014, interest rate swaps fix the interest on approximately $133 million of outstanding borrowings under the Prospector Senior Credit Facility. Under the swaps, Prospector pays a fixed interest rate of 1.512% and receives the three-month LIBOR rate. The Prospector Senior Credit Facility has certain financial covenants with which we are required to comply and test on a twelve month rolling basis commencing six months following the acceptance of Prospector 5 by Total S.A. This acceptance occurred in December 2014.
	In addition to quarterly interest payments, the Prospector 1 tranche and the Prospector 5 tranche require quarterly principal repayments which commenced in October 2014 and January 2015, respectively. The remaining balance of the Prospector Senior Credit Facility is due in full in December 2018. The lenders under the Prospector Senior Credit Facility do not have recourse to Paragon for repayment of the loan.
	The Prospector Senior Credit Facility also includes a Change of Control provision whereby the lenders can require us to prepay the outstanding principal balance and accrued interest. On February 13, 2015, the lenders under the Prospector Senior Credit Facility temporarily waived this prepayment requirement until March 16, 2015. We are currently in discussions with these lenders to permanently waive this requirement. However, we can provide no assurance that we will reach an agreement with the lenders prior to such date. If we are unable to do so, we will be required to repay in full the remaining principal balance outstanding under the Prospector Senior Credit Facility. We intend to use cash on hand and borrowings under our Revolving Credit Facility.
	Fair Value of Debt
	Fair value represents the amount at which an instrument could be exchanged in a current transaction between willing parties. The estimated fair values of our Senior Notes and Term Loan Facility were based on the quoted market prices for similar issues or on the current rates offered to us for debt of similar remaining maturities (Level 2 measurement). The fair value of our Prospector Bonds were based on the put price as per the change of control considerations in the bond agreement.
	The following table presents the estimated fair value of our long-term debt as of December 31, 2014:


		December 31, 2014
	(In thousands)	Carrying Value				Estimated Fair Value
	Senior unsecured notes:
	6.75% Senior Notes due July 15, 2022	$	457,572			$	275,115

	7.25% Senior Notes due August 15, 2024	537,010				319,521

	Total senior unsecured notes	$	994,582			$	594,636


	Term Loan Facility, bearing interest at 3.75%, net of unamortized discount	$	645,357			$	523,250


	Prospector 2019 Second Lien Callable Bond	$	101,000			$	101,000

	The carrying amounts of our variable-rate debt, the Revolving Credit Facility and the Prospector Senior Credit Facility, approximate fair value because such debt bears short-term, market-based interest rates. We have classified these instruments as Level 2 as valuation inputs used for purposes of determining our fair value disclosure are readily available published LIBOR rates.

Gain_on_Contract_SettlementsEx

Gain on Contract Settlements/Extinguishment, Net	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Gain on Contract Settlements/Extinguishment, Net	GAIN ON CONTRACT SETTLEMENTS/EXTINGUISHMENT, NET
	During the third quarter of 2013, Noble received $45 million related to the settlement of all claims against the former investors of FDR Holdings, Ltd., which Noble acquired in July 2010, relating to alleged breaches of various representations and warranties contained in the purchase agreement. A portion of the settlement related to standard specification rigs. This portion, totaling $23 million, was pushed down to our Predecessor in 2013, through an allocation, using the acquired rig values of the purchased rigs.
	During the fourth quarter of 2012, our Predecessor received a deposit of $2 million related to the potential sale of one of our drilling units to an unrelated third party. During the first quarter of 2013 negotiations led to the sale not being completed and the deposit was recognized as a gain.
	During the second quarter of 2012, our Predecessor received $5 million from the settlement of a claim relating to the Noble David Tinsley, which experienced a “punch-through” while being positioned on location in 2009.
	COMMITMENTS AND CONTINGENCIES
	Operating Leases
	Future minimum lease payments for operating leases for years ending December 31 are as follows (in thousands):


	2015	$	14,734

	2016	$	10,871

	2017	$	4,494

	2018	$	2,596

	2019	$	2,032

	Thereafter	$	3,462

	Total rent expense under operating leases was approximately $16 million for the year ended December 31, 2014.
	Purchase Commitments
	At December 31, 2014, our purchase commitments which consist of obligations outstanding to external vendors primarily related to future capital purchases, were as follows (in thousands):


	2015	$	454,098

	2016	$	199,161

	Litigation
	We are a defendant in certain claims and litigation arising out of operations in the ordinary course of business, the resolution of which, in the opinion of management, will not have a material adverse effect on our financial position, results of operations or cash flows. There is inherent risk in any litigation or dispute and no assurance can be given as to the outcome of these claims.
	Other Contingencies
	We have received tax audit claims of approximately $267 million, of which $50 million is subject to indemnity by Noble, primarily in Mexico and Brazil, attributable to our income, customs and other business taxes. In addition, approximately $37 million of tax audit claims attributable to Mexico assessed against Noble may be allocable to us as a result of the Spin-Off. We have contested, or intend to contest, these assessments, including through litigation if necessary. Tax authorities may issue additional assessments or pursue legal actions as a result of tax audits, and we cannot predict or provide assurance as to the ultimate outcome of such assessments and legal actions. In some cases we will be required to post a surety bond or a letter of credit as collateral to defend us. Although we have no surety bonds or letters of credit associated with tax audit claims outstanding as of December 31, 2014, we could be required to post collateral against our Mexico assessments during 2015, which could be substantial and could have a material adverse effect on our financial condition, results of operations and cash flows.
	In addition, Petróleo Brasileiro S.A. (“Petrobras”) has notified us, along with other industry participants, that it is currently challenging assessments by Brazilian tax authorities of withholding taxes associated with the provision of drilling rigs for its operations in Brazil during the years 2008 and 2009 totaling $106 million, of which $30 million is subject to indemnity by Noble. Petrobras has also notified us that if they must pay such withholding taxes, they will seek reimbursement from us. We believe that we are contractually indemnified by Petrobras for these amounts and dispute the validity of the assessment. We have notified Petrobras of our position. We will, if necessary, vigorously defend our rights. If we were required to pay such reimbursement, however, the amount of such reimbursement could be substantial and could have a material adverse effect on our financial condition, results of operations and cash flows.
	In January 2015, a subsidiary of Noble received an unfavorable ruling from the Mexican Supreme Court on a tax depreciation position claimed in periods prior to the Spin-Off. Although the ruling does not constitute mandatory jurisprudence in Mexico, it does create potential indemnification exposure for us under the tax sharing agreement. Noble is the primary obligor to the Mexican tax authorities and, to our understanding, has yet to decide on a course of action in this matter, which could include an appeal against this ruling. As a result, while we are in discussions with Noble, we are presently unable to determine next steps or a timeline on this matter; nor are we able to determine the extent of our liability. We have considered this matter under ASC 460, Guarantees, and concluded that our liability under this matter is reasonably possible. Due to these current uncertainties, we are not able to reasonably estimate a loss at this time.
	Insurance
	In connection with the Separation, we replaced our Predecessor’s insurance policies, which were supported by Noble, with substantially similar standalone insurance policies. We maintain certain insurance coverage against specified marine perils, which included physical damage and loss of hire. Damage caused by hurricanes has negatively impacted the energy insurance market, resulting in more restrictive and expensive coverage for named windstorm perils.
	We maintain insurance in the geographic areas in which we operate, although pollution, reservoir damage and environmental risks generally are not fully insurable. Our insurance policies and contractual rights to indemnity may not adequately cover our losses or may have exclusions of coverage for some losses. We do not have insurance coverage or rights to indemnity for all risks, including loss of hire insurance on most of the rigs in our fleet. Uninsured exposures may include expatriate activities prohibited by U.S. laws and regulations, radiation hazards, certain loss or damage to property on board our rigs and losses relating to shore-based terrorist acts or strikes. If a significant accident or other event occurs and is not fully covered by insurance or contractual indemnity, it could materially adversely affect our financial position, results of operations or cash flows. Additionally, there can be no assurance that those parties with contractual obligations to indemnify us will necessarily be financially able to indemnify us against all these risks.
	Capital Expenditures
	In connection with our capital expenditure program, we have outstanding commitments, including shipyard and purchase commitments of approximately $653 million at December 31, 2014.
	Other
	At December 31, 2014, we had letters of credit of $21 million and performance bonds totaling $110 million supported by surety bonds outstanding. Certain of our subsidiaries issued guarantees to the temporary import status of rigs or equipment imported into certain countries in which we operated. These guarantees are issued in lieu of payment of custom, value added or similar taxes in those countries.
	Separation Agreements
	In connection with the Spin-off, on July 31, 2014, we entered into several definitive agreements with Noble or its subsidiaries that, among other things, set forth the terms and conditions of the Spin-Off and provide a framework for our relationship with Noble after the Spin-off, including the following agreements:

	•	Master Separation Agreement;

	•	Tax Sharing Agreement;

	•	Employee Matters Agreement;

	•	Transition Services Agreement relating to services Noble and Paragon will provide to each other on an interim basis; and

	•	Transition Services Agreement relating to Noble’s Brazil operations.
	Pursuant to these agreements with Noble, the consolidated and combined balance sheet consists of the following balances due from and to Noble as of December 31, 2014 (in thousands):


	Balance Sheet Position	Amount
	Other current assets	$	26,386

	Other assets	6,875

	Due from Noble	$	33,261


Accounts payable	$	1,655

Other current liabilities	51,169

Other liabilities	23,563

Due to Noble	$	76,387

These receivables and payables primarily relate to rights and obligations under the Tax Sharing Agreement.
Master Separation Agreement
On July 31, 2014, we entered into a Master Separation Agreement with Noble Corporation, a Cayman Islands company and an indirect, wholly-owned subsidiary of Noble (“Noble-Cayman”), which provided for, among other things, the Distribution of our ordinary shares to Noble shareholders and the transfer to us of the assets and the assumption by us of the liabilities relating to our business and the responsibility of Noble for liabilities related to Noble’s, and in certain limited cases, our business. The Master Separation Agreement identified which assets and liabilities constitute our business and which assets and liabilities constitute Noble’s business.
Tax Sharing Agreement
On July 31, 2014, we entered into a Tax Sharing Agreement with Noble, which governs the parties’ respective rights, responsibilities and obligations with respect to tax liabilities and benefits, tax attributes, the preparation and filing of tax returns, the control of audits and other tax proceedings and certain other matters regarding taxes following the Distribution.
Employee Matters Agreement
On July 31, 2014, we entered into an Employee Matters Agreement with Noble-Cayman to allocate liabilities and responsibilities relating to our employees and their participation in certain compensation and benefit plans maintained by Noble or a subsidiary of Noble. The Employee Matters Agreement provides that, following the Distribution, most of our employee benefits are provided under compensation and benefit plans adopted or assumed by us. In general, our plans are substantially similar to the plans of Noble or its subsidiaries that covered our employees prior to the completion of the Distribution. The Employee Matters Agreement also addresses the treatment of outstanding Noble equity awards held by transferring employees, including the grant of our equity awards or other rights with respect to Noble equity awards held by transferring employees that were canceled in connection with the Spin-Off.
Transition Services Agreement
On July 31, 2014, we entered into a Transition Services Agreement with Noble-Cayman pursuant to which Noble-Cayman provides, on a transitional basis, certain administrative and other assistance, generally consistent with the services that Noble provided to us before the separation, and we provide certain transition services to Noble and its subsidiaries. The charges for the transition services are generally intended to allow the party providing the services to fully recover the costs directly associated with providing the services, plus all out-of-pocket costs and expenses, generally without profit. The charges for each of the transition services generally are based on either a pre-determined flat fee or an allocation of the costs incurred, including certain fees and expenses of third-party service providers.
Transition Services Agreement (Brazil)
On July 31, 2014, we and Noble-Cayman and certain other subsidiaries of Noble entered into a Transition Services Agreement (and a related rig charter) pursuant to which we will provide certain transition services to Noble and its subsidiaries in connection with Noble’s Brazil operations. We will continue to provide both rig-based and shore-based support services in respect of Noble’s remaining business through the term of Noble’s existing rig contracts. Noble currently has one rig operating in Brazil. Noble-Cayman will compensate us on a cost-plus basis for providing such services and also indemnify us for liabilities arising out of the services agreement. This agreement will terminate when the last of the Noble semisubmersibles working in Brazil finish the existing contract, which is expected to occur in 2016.

Income_Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES
	The operations of our Predecessor have been included in certain income tax returns of Noble. The income tax provisions and related deferred tax assets and liabilities that have been reflected in our Predecessor’s historical combined financial statements have been computed as if our Predecessor were a separate taxpayer using the separate return method. As a result, actual tax transactions that would not have occurred had our Predecessor been a separate entity have been eliminated in the preparation of these consolidated and combined financial statements. Income taxes of our Predecessor include results of the operations of the standard specification drilling units. In instances where the operations of the standard specification drilling units of our Predecessor were included in the filing of a return with high specification units, an allocation of income taxes was made.
	We operate through various subsidiaries in numerous countries throughout the world. Consequently, income taxes have been based on the laws and rates in effect in the countries in which operations are conducted, or in which we and our subsidiaries or our Predecessor and its subsidiaries were incorporated or otherwise considered to have a taxable presence. The change in the effective tax rate from period to period is primarily attributable to changes in the profitability mix of our operations in various jurisdictions. Because our operations continually change among numerous jurisdictions, and methods of taxation in these jurisdictions vary greatly, there is little direct correlation between the income tax provision and income before taxes.
	Income before income taxes consists of the following:


			Year Ended December 31,
	(In thousands)		2014				2013				2012
	United States		$	70,949			$	114,314			$	65,574

	Non-U.S.		(648,360		)		331,596				109,351

	Total		$	(577,411	)		$	445,910			$	174,925

	The income tax provision consists of the following:


			Year Ended December 31,
	(In thousands)		2014				2013				2012
	Current - United States		$	45,754			$	20,732			$	14,637

	Current - Non-U.S.		43,115				55,691				49,108

	Deferred - United States		(30,391		)		13,425				(13,179		)

	Deferred - Non-U.S.		10,916				(4,243		)		(1,878		)

	Total		$	69,394			$	85,605			$	48,688

	We conduct business globally and, as a result, we file numerous income tax returns, or are subject to withholding taxes, in various jurisdictions. In the normal course of business we are generally subject to examination by taxing authorities throughout the world. With few exceptions, we are no longer subject to examinations of tax matters for years prior to 1999.
	Our effective tax rate for the year ended December 31, 2014 was approximately -12%, on a pre-tax loss of $577 million. The negative effective tax rate was primarily driven by an impairment loss of $1.1 billion during the third and fourth quarters of 2014.
	The Company is based in the U.K., which has a statutory rate of 21% as of December 31, 2014. However, the income of our non-U.K. subsidiaries is not expected to be subject to U.K. corporate tax. Prior to being based in the U.K., our Predecessor was based in Switzerland. Similar to the U.K., the income of our non-Swiss subsidiaries was not subject to tax in Switzerland. A reconciliation of tax rates outside of Switzerland and the U.K. to our effective rate is shown below:


			Year Ended December 31,
			2014			2013			2012
	Effect of:
	Tax rates which are different than the U.K. and Swiss rates		(15.3	)%		17.4	%		28	%
	Tax effect from asset impairment		4.3	%		—	%		—	%
	Change in valuation allowance		—	%		2	%		—	%
	Reserve for (resolution of) tax authority audits		(1.0	)%		(0.2	)%		(0.2	)%
	Total		(12.0	)%		19.2	%		27.8	%
	The components of the net deferred taxes are as follows:


	(In thousands)		2014				2013
	Deferred tax assets
	Accrued expenses not currently deductible		$	3,556			$	—

	Net operating loss carry forwards		22,645				43,409

	Deferred tax assets		26,201				43,409

	Less: Valuation allowance		—				(8,672		)

	Net deferred tax assets		26,201				34,737

	Deferred tax liabilities
	Excess of net book basis over remaining tax basis of Property and equipment		(58,844		)		(122,581		)
	Deferred taxes on unremitted earnings		(6,043		)		—

	Contract market valuation		(5,434		)		—

	Other		(838		)		—

Deferred tax liabilities		(71,159		)		(122,581		)
Net deferred tax liabilities		$	(44,958	)		$	(87,844	)
The deferred tax assets related to our net operating losses were generated in various tax jurisdictions. With the exception of the $13 million tax effect of our Mexico net operating losses which will expire between 2021 and 2022, our net operating losses do not expire. We recognize a valuation allowance for deferred tax assets when it is more-likely-than-not that the benefit from the deferred tax asset will not be realized. The amount of deferred tax assets considered realizable could increase or decrease in the near-term if estimates of future taxable income change.
The following is a reconciliation of the liabilities related to our unrecognized tax benefits, excluding interest and penalties:


(In thousands)		2014				2013				2012
Gross balance at January 1,		$	32,336			$	37,969			$	44,188

Additions based on tax positions related to the current year		4,442				532				536

Additions for tax positions of prior years		1,424				4,599				2,430

Reductions for tax positions of prior years		(7,298		)		(214		)		—

Expiration of statutes		(1,225		)		(2,712		)		(3,130		)
Tax settlements		—				(7,838		)		(6,055		)

Gross balance at December 31,		29,679				32,336				37,969

Related tax benefits		—				(1,983		)		(6,590		)

Net balance at December 31,		$	29,679			$	30,353			$	31,379

The liabilities related to our unrecognized tax benefits are comprised of the following:


(In thousands)		2014				2013
Unrecognized tax benefits, excluding interest and penalties		$	29,679			$	30,353

Interest and penalties included in “Other liabilities”		10,517				6,137

Unrecognized tax benefits, including interest and penalties		$	40,196			$	36,490

We include, as a component of our income tax provision, potential interest and penalties related to liabilities for our unrecognized tax benefits within our global operations. Interest and penalties resulted in an income tax expense of $2 million in 2014, an income tax expense of $1 million in 2013 and an income tax expense of $4 million in 2012.
If recognized, $40 million of our unrecognized tax benefit would reduce our income tax provision as of December 31, 2014.
It is reasonably possible that our existing liabilities related to our unrecognized tax benefits may increase or decrease in the next twelve months primarily due to the progression of open audits or the expiration of statutes of limitation. However, we cannot reasonably estimate a range of potential changes in our existing liabilities for unrecognized tax benefits due to various uncertainties, such as the unresolved nature of various audits.

Employee_Benefit_Plans

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS
	During the periods prior to Spin-Off, most of our employees were eligible to participate in various Noble benefit programs. The results of our Predecessor in these consolidated and combined financial statements include an allocation of the costs of such employee benefit plans, consistent with the accounting for multi-employer plans. These costs were allocated based on our employee population for each of the periods presented. We consider the expense allocation methodology and results to be reasonable for all periods presented; however, the allocated costs included in the results of our Predecessor and included in these consolidated and combined financial statements could differ from amounts that would have been incurred by us if we operated on a standalone basis and are not necessarily indicative of costs to be incurred in the future.
	We have instituted competitive compensation policies and programs, as well as carried over certain plans as a standalone public company, the expense for which may differ from the compensation expense allocated by Noble in our Predecessor’s historical combined financial statements.
	Defined Benefit Plans
	At Spin-Off, Noble sponsored two non-U.S. noncontributory defined benefit pension plans which were carried over by us and cover certain Europe-based salaried, non-union employees. Pension benefit expense related to these plans included in the accompanying consolidated and combined statements of income for the year ended December 31, 2014 totaled $6 million.
	A reconciliation of the changes in projected benefit obligations (“PBO”) for our pension plans is as follows:


			Year Ended December 31,
	(In thousands)		2014
	Benefit obligation at beginning of year		$	95,101
	Benefit obligation at beginning of year		$	95,101
	Service cost		4,819
	Service cost		4,819
	Interest cost		2,601
	Interest cost		2,601
	Actuarial loss (gain)		39,499
	Actuarial loss (gain)		39,499
	Amendments		(139		)
	Benefits paid		(1,240		)
	Plan participants' contribution		512
	Plan participants' contribution		512
	Foreign exchange rate changes		(14,806		)
	Other: curtailment		(1,985		)
	Benefit obligation at end of year		$	124,362
	Benefit obligation at end of year		$	124,362
	A reconciliation of the changes in fair value of plan assets is as follows:


			Year Ended December 31,
	(In thousands)		2014
	Fair value of plan assets at beginning of year		$	97,453
	Fair value of plan assets at beginning of year		$	97,453
	Actual return on plan assets		38,252
	Actual return on plan assets		38,252
	Employer contribution		6,565
	Employer contribution		6,565
	Benefits paid		(833		)
	Plan participants' contributions		512
	Plan participants' contributions		512
	Expenses paid		(407		)
	Foreign exchange rate changes		(15,951		)
	Fair value of plan assets at end of year		$	125,591
	Fair value of plan assets at end of year		$	125,591
	The funded status of the plans is as follows:


			Year Ended December 31,
	(In thousands)		2014
	Funded status		$	1,229
	Funded status		$	1,229
	Amounts recognized in the consolidated and combined balance sheets consist of:


			Year Ended December 31,
	(In thousands)		2014
	Other assets (noncurrent)		$	1,229
	Other assets (noncurrent)		$	1,229
	Accumulated other comprehensive loss recognized in financial statements		22,911
			22,911
	Net amount recognized		$	24,140
	Net amount recognized		$	24,140
	Amounts recognized in Accumulated other comprehensive loss (“AOCL”) consist of:


		Year Ended December 31,
(In thousands)		2014
Actuarial loss (gain)		$	20,539
Actuarial loss (gain)		$	20,539
Prior service cost (credit)		2,063
Prior service cost (credit)		2,063
Deferred income tax		309
Deferred income tax		309
Accumulated other comprehensive loss		$	22,911
Accumulated other comprehensive loss		$	22,911
Pension cost includes the following components:


		Year Ended December 31,
(In thousands)		2014
Service cost		$	4,819
Service cost		$	4,819
Interest cost		2,601
Interest cost		2,601
Return on plan assets		(2,625		)
Amortization of Prior Service Cost		(16		)
Amortization of transition obligation		—
Amortization of transition obligation		—
Amortization net actuarial loss (gain)		1,077
Amortization net actuarial loss (gain)		1,077
Net curtailment (gain)		(66		)
Net pension expense		$	5,790
Net pension expense		$	5,790
Amortization related to prior service cost and net actuarial loss is estimated to be less than $1 million in 2015.
Defined Benefit Plans - Disaggregated Plan Information
Disaggregated information regarding our pension plans is summarized below:


		Year Ended December 31,
(In thousands)		2014
Projected benefit obligation		$	124,362
Projected benefit obligation		$	124,362
Accumulated benefit obligation		119,632
Accumulated benefit obligation		119,632
Fair value of plan assets		125,591
Fair value of plan assets		125,591
Defined Benefit Plans - Key Assumptions
The key assumptions for the plans are summarized below:


		Year Ended December 31,
Weighted Average Assumptions Used to Determine Benefit Obligations		2014
Discount rate		2.3% to 2.4%
Discount rate		2.3% to 2.4%
Rate of compensation increase		3.6	%


		Year Ended December 31,
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost		2014
Discount rate		2.7% to 3.9%
Discount rate		2.7% to 3.9%
Expected long-term return on plan assets		2.7% to 2.8%
Expected long-term return on plan assets		2.7% to 2.8%
Rate of compensation increase		3.6	%
The discount rates used to calculate the net present value of future benefit obligations are determined by using a yield curve of high quality bond portfolios with an average maturity approximating that of the liabilities.
We employ third-party consultants who use a portfolio return model to assess the initial reasonableness of the expected long-term rate of return on plan assets. To develop the expected long-term rate of return on assets, we considered the current level of expected returns on risk free investments (primarily government bonds), the historical level of risk premium associated with the other asset classes in which the portfolio is invested and the expectations for future returns of each asset class. The expected return for each asset class was then weighted based on the target asset allocation to develop the expected long-term rate of return on assets for the portfolio.
Defined Benefit Plans - Plan Assets
Both the Paragon Offshore Enterprise Ltd and the Paragon Offshore Nederland B.V. pension plans have a targeted asset allocation of 100% debt securities. The investment objective for Paragon Offshore Enterprise Ltd and Paragon Offshore Nederland B.V. Non-US plans are to earn a favorable return against the Barclays Capital Euro - Treasury AAA 1 - 3 year benchmark. We evaluate the performance of this plan on an annual basis.
The actual fair value of our pension plans as of December 31, 2014 is as follows:


						31-Dec-14
						Estimated Fair Value Measurements
(In thousands)		Carrying				Quoted			Significant Other Observable Inputs		Significant Unobservable
		Amount				Prices in Active			(Level 2)		Inputs
						Markets					(Level 3)
						(Level 1)
Fixed Income securities:
Corporate Bonds		$	32,476			$	—		$	32,477	$	—
Corporate Bonds		$	32,476			$	—		$	32,477	$	—
Other		93,115				—			—		93,115
Other		93,115				—			—		93,115
Total		$	125,591			$	—		$	32,477	$	93,115
Total		$	125,591			$	—		$	32,477	$	93,115
At December 31, 2014, assets of Paragon Offshore Enterprise Ltd and Paragon Offshore Nederland B.V. were invested in instruments that are similar in form to a guaranteed insurance contract. There are no observable market values for the assets (level 3); however, the amounts listed as plan assets were materially similar to the anticipated benefit obligations that were anticipated under the plans. Amounts were therefore calculated using actuarial assumptions completed by third party consultants employed by Noble. The following table details the activity related to these investments during the year.


		Market Value
Balance as of December 31, 2013		$	68,280
Balance as of December 31, 2013		$	68,280
Assets sold/benefits paid		(735		)
Return on plan assets		25,570
Return on plan assets		25,570
Balance as of December 31, 2014		$	93,115
Balance as of December 31, 2014		$	93,115
Defined Benefit Plans - Cash Flows
In 2014, we made total contributions of $7 million to our pension plans. We expect our aggregate minimum contributions to our plans in 2015, subject to applicable law, to be $5 million. We continue to monitor and evaluate funding options based upon market conditions and may increase contributions at our discretion.
The following table summarizes our benefit payments at December 31, 2014 estimated to be paid within the next ten years:


					Payments by Period
	Total				2015			2016		2017	2018		2019	Five Years
	Total				2015			2016		2017	2018		2019	Thereafter
Estimated benefit payments	$	18,490			868			993		1,168	1,390		1,618	12,453
Estimated benefit payments	$	18,490			868			993		1,168	1,390		1,618	12,453
Other Benefit Plans
At Spin-Off, Noble sponsored a 401(k) defined contribution plan and a profit sharing plan, which covered our Predecessor’s employees who are not otherwise enrolled in the above defined benefit plans. Other post-retirement benefit expense related to these plans included in the accompanying consolidated and combined statements of income during the five months ended December 31, 2014, not including amounts allocated to our Predecessor, totaled $2 million.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activities	12 Months Ended
Derivative Instruments and Hedging Activities	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
	Although we are a U.K. company, we define foreign currency as any non-U.S. denominated currency. Our functional currency is primarily the U.S. dollar. However, outside the United States, a portion of our expenses are incurred in local currencies. We are exposed to risks on future cash flows to the extent that local currency expenses exceed revenues denominated in local currencies that are other than the U.S. dollar. To help manage this potential risk, we periodically enter into derivative instruments to manage our exposure to fluctuations in foreign currency exchange rates, and we may conduct hedging activities in future periods to mitigate such exposure. We have documented policies and procedures to monitor and control the use of derivative instruments. We do not engage in derivative transactions for speculative or trading purposes, nor are we a party to leveraged derivatives.
	Cash Flow Hedges
	Our North Sea, Mexico and Brazil operations have a significant amount of their cash operating expenses payable in local currencies. To limit the potential risk of currency fluctuations, we may periodically enter into forward contracts all of which would have a maturity of less than twelve months and would settle monthly in the operations’ respective local currencies. During 2014, we, entered into forward contracts, expressed in U.S. dollars, of approximately $58 million, all of which settled during the year. We had no outstanding derivative contracts and thus no unrealized gains recorded as a part of AOCL at both December 31, 2014 and 2013. See Note 13, “Accumulated Other Comprehensive Loss” for changes in AOCL related to our cash flow hedges. Subsequent to the Spin-Off, total realized losses related to these forward contracts were $14 thousand and were classified as “Contract drilling services operating costs and expenses” on the consolidated and combined statement of operations for the year ended December 31, 2014. As of December 31, 2014, these forward contracts are designated as cash flow hedging instruments.
	For our foreign currency forward contracts, hedge effectiveness is evaluated at inception based on the matching of critical terms between derivative contracts and the hedged item. Any change in fair value resulting from ineffectiveness is recognized immediately in earnings. For the year ended December 31, 2014, no loss was recognized on our consolidated and combined statement of income due to hedge ineffectiveness. Additionally, there were no gains or losses recognized in income for the year ended December 31, 2014 as a result of excluding amounts from the assessment of hedge effectiveness or as a result of reclassifications to earnings following the discontinuance of any cash flow hedges.
	Prospector Interest Rate Swaps Acquired
	Our Prospector Credit Facility exposes Prospector to short-term changes in market interest rates as our interest obligations on these instruments are periodically redetermined based on the prevailing LIBOR rate. Upon our acquisition of Prospector, Prospector had interest rate swaps originally entered into by a subsidiary of Prospector on June 13, 2014 with an aggregate maximum notional amount of $135 million. The interest rate swaps were entered into to reduce the variability of the cash interest payments under the Prospector Senior Credit Facility and currently fix the interest on approximately $133 million, or 50%, of outstanding borrowings under the Prospector Credit Facility. Prospector receives interest at three-month LIBOR and pays interest at a fixed rate of 1.512% over the expected term of the Prospector Senior Credit Facility. We do not apply hedge accounting with respect to these interest rate swaps and therefore, changes in fair values were recognized as either income or loss in our consolidated and combined statement of income. The fair values of our interest rate swaps were determined based on a discounted cash flow model utilizing an appropriate market or risk-adjusted yield. The effects of discounting are generally considered insignificant for interest rate swaps. As of December 31, 2014, the change in fair value of the interest rate swaps recorded in “Interest expense net of amount capitalized” is a gain of $78 thousand. The interest rate swaps are measured and recorded on our consolidated and combined balance sheet at fair value. As of December 31, 2014, we had approximately $2 million recorded in “Other current liabilities” and approximately $1 million recorded in “Other long-term assets” related to the interest rate swaps (see Note 12, “Concentration of Market and Credit Risk”).

Concentration_of_Market_and_Cr

Concentration of Market and Credit Risk

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Concentration of Market and Credit Risk

CONCENTRATION OF MARKET AND CREDIT RISK

Fair Value of Financial Instruments

The following table presents the carrying amount and estimated fair value of our financial instruments recognized at fair value on a recurring basis:

December 31, 2014

Estimated Fair Value Measurement

Carrying

Quoted

Significant

Prices in

Other

Unobservable

Active

Observable

Inputs

Markets

Inputs

(In thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

Assets -

Interest rate swaps

531

—

531

—

Liabilities -

Interest rate swaps

1,530

—

1,530

—

We had no outstanding foreign currency forward contracts at December 31, 2014. The fair values of our interest rate swaps were determined based on a discounted cash flow model utilizing an appropriate market or risk-adjusted yield. The effects of discounting are generally considered insignificant for interest rate swaps. Our cash and cash equivalents, accounts receivable and accounts payable are by their nature short-term. As a result, the carrying values included in the accompanying consolidated and combined balance sheets approximates fair value. For the estimated fair value of our long-term debt, refer to Note 7, “Debt.”

Credit Risk

The market for our services is the offshore oil and gas industry, and our customers consist primarily of government-owned oil companies, major integrated oil companies and independent oil and gas producers. We perform ongoing credit evaluations of our customers and do not require material collateral. We maintain reserves for potential credit losses when necessary. Our results of operations and financial condition should be considered in light of the fluctuations in demand experienced by drilling contractors as changes in oil and gas producers’ expenditures and budgets occur. These fluctuations can impact our results of operations and financial condition as supply and demand factors directly affect utilization and dayrates, which are the primary determinants of our net cash provided by operating activities.

Revenues from Petróleos Mexicanos accounted for approximately 16%, 19%, and 21% of our operating revenues in 2014, 2013 and 2012, respectively. Revenues from Petrobras accounted for approximately 23%, 17% percent, and 18% of our operating revenues in 2014, 2013, and 2012, respectively. No other customer accounted for more than ten percent of our operating revenues in 2014, 2013 or 2012.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS
	The following table sets forth the components of “Accumulated other comprehensive loss” (“AOCL”) for the years ended December 31, 2014 and 2013 and changes in AOCL by component for the year ended December 31, 2014. All accounts within the tables are shown net of tax.


	(In thousands)		Gains /			Defined			Foreign			Total
			(Losses) on			Benefit			Currency
			Cash Flow			Pension Items (2)			Items
			Hedges (1)
	Balance at December 31, 2013		$	—		$	—		$	(6	)	$	(6	)

	Activity during period:
	AOCL recorded in connection with Spin-Off		4,027			(21,770		)	(12,706		)	(30,449		)

	AOCL recorded in connection with Prospector acquisition		—			—			(40		)	(40		)

	Other comprehensive loss before reclassification		(4,041		)	—			(1,481		)	(5,522		)

	Amounts reclassified from AOCL		14			(1,141		)	—			(1,127		)

	Net other comprehensive income (loss)		(4,027		)	(1,141		)	(1,481		)	(6,649		)
	Balance at December 31, 2014		$	—		$	(22,911	)	$	(14,233	)	$	(37,144	)


	-1	Gains / (losses) on cash flow hedges are related to our foreign currency forward contracts. Reclassifications from AOCL are recognized through “Contract drilling services operating costs and expenses” on our consolidated and combined statements of income. See Note 11, “Derivative instruments and hedging activities” for additional information.

	-2	Defined benefit pension items relate to actuarial losses, prior service credits, and the amortization of actuarial losses and prior service credits. Reclassifications from AOCL are recognized as expense on our consolidated and combined statements of income through either “Contract drilling services” or “General and administrative.” See Note 10, “Employee benefit plans” for additional information.

Deferred_Revenue_and_Costs

Deferred Revenue and Costs	12 Months Ended
Deferred Revenue and Costs	Dec. 31, 2014
Deferred Revenue and Costs Disclosure [Abstract]
Deferred Revenue and Costs	DEFERRED REVENUES AND COSTS
	It is typical in our dayrate drilling contracts to receive compensation and incur costs for mobilization, equipment modification, or other activities prior to the commencement of the contract. Any such compensation may be paid through a lump-sum payment or other daily compensation. Pre-contract compensation and costs are deferred until the contract commences. The deferred pre-contract compensation and costs are amortized, using the straight-line method, into income over the term of the initial contract period, regardless of the activity taking place. This approach is consistent with the economics for which the parties have contracted. Once a contract commences, we may conduct various activities, including drilling and well bore related activities, rig maintenance and equipment installation, movement between well locations or other activities.
	Deferred revenues from drilling contracts totaled $9 million at December 31, 2014 as compared to $22 million at December 31, 2013. Such amounts are included in either “Other current liabilities” or “Other liabilities” in our consolidated and combined balance sheets, based upon the expected time of recognition of such deferred revenues. Deferred costs associated with deferred revenues from drilling contracts totaled $2 million at December 31, 2014 as compared to $24 million at December 31, 2013. Such amounts are included in either “Prepaid and other current assets” or “Other assets” in our consolidated and combined balance sheets, based upon the expected time of recognition of such deferred costs.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	GAIN ON CONTRACT SETTLEMENTS/EXTINGUISHMENT, NET
	During the third quarter of 2013, Noble received $45 million related to the settlement of all claims against the former investors of FDR Holdings, Ltd., which Noble acquired in July 2010, relating to alleged breaches of various representations and warranties contained in the purchase agreement. A portion of the settlement related to standard specification rigs. This portion, totaling $23 million, was pushed down to our Predecessor in 2013, through an allocation, using the acquired rig values of the purchased rigs.
	During the fourth quarter of 2012, our Predecessor received a deposit of $2 million related to the potential sale of one of our drilling units to an unrelated third party. During the first quarter of 2013 negotiations led to the sale not being completed and the deposit was recognized as a gain.
	During the second quarter of 2012, our Predecessor received $5 million from the settlement of a claim relating to the Noble David Tinsley, which experienced a “punch-through” while being positioned on location in 2009.
	COMMITMENTS AND CONTINGENCIES
	Operating Leases
	Future minimum lease payments for operating leases for years ending December 31 are as follows (in thousands):


	2015	$	14,734

	2016	$	10,871

	2017	$	4,494

	2018	$	2,596

	2019	$	2,032

	Thereafter	$	3,462

	Total rent expense under operating leases was approximately $16 million for the year ended December 31, 2014.
	Purchase Commitments
	At December 31, 2014, our purchase commitments which consist of obligations outstanding to external vendors primarily related to future capital purchases, were as follows (in thousands):


	2015	$	454,098

	2016	$	199,161

	Litigation
	We are a defendant in certain claims and litigation arising out of operations in the ordinary course of business, the resolution of which, in the opinion of management, will not have a material adverse effect on our financial position, results of operations or cash flows. There is inherent risk in any litigation or dispute and no assurance can be given as to the outcome of these claims.
	Other Contingencies
	We have received tax audit claims of approximately $267 million, of which $50 million is subject to indemnity by Noble, primarily in Mexico and Brazil, attributable to our income, customs and other business taxes. In addition, approximately $37 million of tax audit claims attributable to Mexico assessed against Noble may be allocable to us as a result of the Spin-Off. We have contested, or intend to contest, these assessments, including through litigation if necessary. Tax authorities may issue additional assessments or pursue legal actions as a result of tax audits, and we cannot predict or provide assurance as to the ultimate outcome of such assessments and legal actions. In some cases we will be required to post a surety bond or a letter of credit as collateral to defend us. Although we have no surety bonds or letters of credit associated with tax audit claims outstanding as of December 31, 2014, we could be required to post collateral against our Mexico assessments during 2015, which could be substantial and could have a material adverse effect on our financial condition, results of operations and cash flows.
	In addition, Petróleo Brasileiro S.A. (“Petrobras”) has notified us, along with other industry participants, that it is currently challenging assessments by Brazilian tax authorities of withholding taxes associated with the provision of drilling rigs for its operations in Brazil during the years 2008 and 2009 totaling $106 million, of which $30 million is subject to indemnity by Noble. Petrobras has also notified us that if they must pay such withholding taxes, they will seek reimbursement from us. We believe that we are contractually indemnified by Petrobras for these amounts and dispute the validity of the assessment. We have notified Petrobras of our position. We will, if necessary, vigorously defend our rights. If we were required to pay such reimbursement, however, the amount of such reimbursement could be substantial and could have a material adverse effect on our financial condition, results of operations and cash flows.
	In January 2015, a subsidiary of Noble received an unfavorable ruling from the Mexican Supreme Court on a tax depreciation position claimed in periods prior to the Spin-Off. Although the ruling does not constitute mandatory jurisprudence in Mexico, it does create potential indemnification exposure for us under the tax sharing agreement. Noble is the primary obligor to the Mexican tax authorities and, to our understanding, has yet to decide on a course of action in this matter, which could include an appeal against this ruling. As a result, while we are in discussions with Noble, we are presently unable to determine next steps or a timeline on this matter; nor are we able to determine the extent of our liability. We have considered this matter under ASC 460, Guarantees, and concluded that our liability under this matter is reasonably possible. Due to these current uncertainties, we are not able to reasonably estimate a loss at this time.
	Insurance
	In connection with the Separation, we replaced our Predecessor’s insurance policies, which were supported by Noble, with substantially similar standalone insurance policies. We maintain certain insurance coverage against specified marine perils, which included physical damage and loss of hire. Damage caused by hurricanes has negatively impacted the energy insurance market, resulting in more restrictive and expensive coverage for named windstorm perils.
	We maintain insurance in the geographic areas in which we operate, although pollution, reservoir damage and environmental risks generally are not fully insurable. Our insurance policies and contractual rights to indemnity may not adequately cover our losses or may have exclusions of coverage for some losses. We do not have insurance coverage or rights to indemnity for all risks, including loss of hire insurance on most of the rigs in our fleet. Uninsured exposures may include expatriate activities prohibited by U.S. laws and regulations, radiation hazards, certain loss or damage to property on board our rigs and losses relating to shore-based terrorist acts or strikes. If a significant accident or other event occurs and is not fully covered by insurance or contractual indemnity, it could materially adversely affect our financial position, results of operations or cash flows. Additionally, there can be no assurance that those parties with contractual obligations to indemnify us will necessarily be financially able to indemnify us against all these risks.
	Capital Expenditures
	In connection with our capital expenditure program, we have outstanding commitments, including shipyard and purchase commitments of approximately $653 million at December 31, 2014.
	Other
	At December 31, 2014, we had letters of credit of $21 million and performance bonds totaling $110 million supported by surety bonds outstanding. Certain of our subsidiaries issued guarantees to the temporary import status of rigs or equipment imported into certain countries in which we operated. These guarantees are issued in lieu of payment of custom, value added or similar taxes in those countries.
	Separation Agreements
	In connection with the Spin-off, on July 31, 2014, we entered into several definitive agreements with Noble or its subsidiaries that, among other things, set forth the terms and conditions of the Spin-Off and provide a framework for our relationship with Noble after the Spin-off, including the following agreements:

	•	Master Separation Agreement;

	•	Tax Sharing Agreement;

	•	Employee Matters Agreement;

	•	Transition Services Agreement relating to services Noble and Paragon will provide to each other on an interim basis; and

	•	Transition Services Agreement relating to Noble’s Brazil operations.
	Pursuant to these agreements with Noble, the consolidated and combined balance sheet consists of the following balances due from and to Noble as of December 31, 2014 (in thousands):


	Balance Sheet Position	Amount
	Other current assets	$	26,386

	Other assets	6,875

	Due from Noble	$	33,261


Accounts payable	$	1,655

Other current liabilities	51,169

Other liabilities	23,563

Due to Noble	$	76,387

These receivables and payables primarily relate to rights and obligations under the Tax Sharing Agreement.
Master Separation Agreement
On July 31, 2014, we entered into a Master Separation Agreement with Noble Corporation, a Cayman Islands company and an indirect, wholly-owned subsidiary of Noble (“Noble-Cayman”), which provided for, among other things, the Distribution of our ordinary shares to Noble shareholders and the transfer to us of the assets and the assumption by us of the liabilities relating to our business and the responsibility of Noble for liabilities related to Noble’s, and in certain limited cases, our business. The Master Separation Agreement identified which assets and liabilities constitute our business and which assets and liabilities constitute Noble’s business.
Tax Sharing Agreement
On July 31, 2014, we entered into a Tax Sharing Agreement with Noble, which governs the parties’ respective rights, responsibilities and obligations with respect to tax liabilities and benefits, tax attributes, the preparation and filing of tax returns, the control of audits and other tax proceedings and certain other matters regarding taxes following the Distribution.
Employee Matters Agreement
On July 31, 2014, we entered into an Employee Matters Agreement with Noble-Cayman to allocate liabilities and responsibilities relating to our employees and their participation in certain compensation and benefit plans maintained by Noble or a subsidiary of Noble. The Employee Matters Agreement provides that, following the Distribution, most of our employee benefits are provided under compensation and benefit plans adopted or assumed by us. In general, our plans are substantially similar to the plans of Noble or its subsidiaries that covered our employees prior to the completion of the Distribution. The Employee Matters Agreement also addresses the treatment of outstanding Noble equity awards held by transferring employees, including the grant of our equity awards or other rights with respect to Noble equity awards held by transferring employees that were canceled in connection with the Spin-Off.
Transition Services Agreement
On July 31, 2014, we entered into a Transition Services Agreement with Noble-Cayman pursuant to which Noble-Cayman provides, on a transitional basis, certain administrative and other assistance, generally consistent with the services that Noble provided to us before the separation, and we provide certain transition services to Noble and its subsidiaries. The charges for the transition services are generally intended to allow the party providing the services to fully recover the costs directly associated with providing the services, plus all out-of-pocket costs and expenses, generally without profit. The charges for each of the transition services generally are based on either a pre-determined flat fee or an allocation of the costs incurred, including certain fees and expenses of third-party service providers.
Transition Services Agreement (Brazil)
On July 31, 2014, we and Noble-Cayman and certain other subsidiaries of Noble entered into a Transition Services Agreement (and a related rig charter) pursuant to which we will provide certain transition services to Noble and its subsidiaries in connection with Noble’s Brazil operations. We will continue to provide both rig-based and shore-based support services in respect of Noble’s remaining business through the term of Noble’s existing rig contracts. Noble currently has one rig operating in Brazil. Noble-Cayman will compensate us on a cost-plus basis for providing such services and also indemnify us for liabilities arising out of the services agreement. This agreement will terminate when the last of the Noble semisubmersibles working in Brazil finish the existing contract, which is expected to occur in 2016.

Related_Parties_Including_Rela

Related Parties (Including Relationship with Parent and Corporate Allocations)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Parties (Including Relationship With Parent and Corporate Allocations)	RELATED PARTIES (INCLUDING RELATIONSHIP WITH PARENT AND CORPORATE ALLOCATIONS)
	For all periods prior to the Spin-Off, our Predecessor was managed in the normal course of business by Noble and its subsidiaries. Accordingly, certain shared costs have been allocated to our Predecessor and are reflected as expenses in these combined financial statements for periods prior to Spin-Off. Our management considers the allocation methodologies used to be reasonable and appropriate reflections of the related expenses attributable to us for purposes of the carve-out financial statements; however, the expenses reflected in the results of our Predecessor and included in these consolidated and combined financial statements may not be indicative of the actual expenses that would have been incurred during the periods presented if our Predecessor had operated as a separate standalone entity and may not be indicative of expenses that will be incurred in the future by us.
	Allocated costs include, but are not limited to: corporate accounting, human resources, information technology, treasury, legal, employee benefits and incentives (excluding allocated postretirement benefits described in “Note 10, Employee Benefit Plans,”) and stock-based compensation. Our Predecessor’s allocated costs included in contract drilling services in the accompanying consolidated and combined statements of income totaled $70 million, $147 million, and $113 million for the years ended December 31, 2014, 2013, and 2012, respectively. Our Predecessor’s allocated costs included in general, and administrative expenses in the accompanying consolidated and combined statements of income totaled $25 million, $58 million, and $53 million for the years ended December 31, 2014, 2013, and 2012 respectively. The costs were allocated to our Predecessor using various inputs, such as head count, services rendered, and assets assigned to our Predecessor.

Segment_and_Related_Informatio

Segment and Related Information	12 Months Ended
	Dec. 31, 2014
Segment Reporting [Abstract]
Segment and Related Information	SEGMENT AND RELATED INFORMATION
	At December 31, 2014, our contract drilling operations were reported as a single reportable segment, Contract Drilling Services, which reflects how our business is managed, and the fact that all of our drilling fleet is dependent upon the worldwide oil industry. The mobile offshore drilling units that comprise our offshore rig fleet operated in a single, global market for contract drilling services and are often redeployed globally due to changing demands of our customers, which consisted largely of major non-U.S. and government owned/controlled oil and gas companies throughout the world. Our contract drilling services segment conducts contract drilling operations in Mexico, Brazil, the North Sea, West Africa, the Middle East, India, and Southeast Asia.
	Operations by Geographic Area
	The following table presents revenues and identifiable assets by country based on the location of the service provided:


		Revenues						Identifiable Assets
		Year Ended December 31,						As of December 31,
	(In thousands)	2014		2013		2012		2014		2013
	Country:
	Mexico	$	326,352	$	367,732	$	320,436	$	472,032	$	351,123

	Brazil	488,884		312,287		284,061		1,863,774		1,864,358

	United Kingdom	193,908		245,789		141,435		90,410		196,479

	The Netherlands	284,651		179,768		210,577		169,088		112,561

	Qatar	94,320		139,891		74,889		96,702		130,515

	United States	85,060		117,951		105,469		94,391		712,713

	United Arab Emirates	139,318		108,256		79,940		228,284		152,699

	Nigeria	—		107,750		148,961		11,308		54,539

	India	79,201		103,282		58,355		135,909		200,799

	Other	302,068		210,296		117,734		91,491		207,013

		$	1,993,762	$	1,893,002	$	1,541,857	$	3,253,389	$	3,982,799

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	SUPPLEMENTAL CASH FLOW INFORMATION
	The net effect of changes in other assets and liabilities on cash flows from operating activities is as follows:


		Year Ended December 31,
	(In thousands)	2014			2013			2012
	Accounts receivable	$	(178,108	)	$	(34,582	)	$	(116,714	)
	Other current assets	42,922			22,181			(2,941		)

	Other assets	(33,637		)	16,451			39,484

	Accounts payable	25,890			8,530			(12,485		)

	Other current liabilities	14,273			18,645			4,562

	Other liabilities	(29,514		)	(16,385		)	(4,920		)
	Net change in other assets and liabilities	$	(158,174	)	$	14,840		$	(93,014	)

	Additional cash flow information is as follows:


		Year Ended December 31,
	(In thousands)	2014			2013			2012
	Cash paid during the period for:
	Interest, net of amounts capitalized	$	21,109		$	5,791		$	3,856

	U.S. and Non-U.S. income taxes	85,248			76,423			63,745

	Non-cash activities:
	Increase (decrease) in accounts payable and accrued liabilities related to capital expenditures	$	1,230		$	(12,365	)	$	(8,463	)

New_Accounting_Pronouncements

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Dec. 31, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUCEMENTS
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which amends FASB Accounting Standards Codification (“ASC”) Topic 205, “Presentation of Financial Statements” and ASC Topic 360, “Property, Plant, and Equipment.” This ASU alters the definition of a discontinued operation to cover only asset disposals that are a strategic shift with a major effect on an entity’s operations and finances, and calls for more extensive disclosures about a discontinued operation’s assets, liabilities, income and expenses. The guidance is effective for all disposals, or classifications as held-for-sale, of components of an entity that occur within annual periods, and interim periods within those annual periods, beginning on or after December 15, 2014. We do not expect that our adoption will have a material impact on our financial statements or disclosures in our financial statements.
	In May 2014, the FASB issued ASU No. 2014-09, which amends ASC Topic 606, “Revenue from Contracts with Customers.” The amendments in this ASU are intended to provide a more robust framework for addressing revenue issues, improve comparability of revenue recognition practices and improve disclosure requirements. The amendments in this accounting standard update are effective for interim and annual reporting periods beginning after December 15, 2016. We are evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures.
	In June 2014, the FASB issued ASU No. 2014-12, which amends ASC Topic 718, “Compensation–Stock Compensation.” The guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and should not be reflected in the estimate of the grant-date fair value of the award. The guidance is effective for annual periods beginning after December 15, 2015. The guidance can be applied prospectively for all awards granted or modified after the effective date or retrospectively to all awards with performance targets outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We are evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures.
	In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern.” This ASU codifies management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The guidance is effective for interim and annual periods ending after December 15, 2016 and early adoption is permitted. We still evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures.
	In January 2015, the FASB issued ASU 2015-01, “Income Statement – Extraordinary and Unusual Items.” This ASU simplifies income statement classification by removing the concept of extraordinary items from U.S. GAAP. As a result, items that are both unusual and infrequent will no longer be separately reported net of tax after continuing operations. The guidance is effective for interim and annual periods ending after December 15, 2015 and early adoption is permitted. We do not expect that our adoption will have a material impact on our financial statements or disclosures in our financial statements.

Unaudited_Interim_Financial_Da

Unaudited Interim Financial Data	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Unaudited Interim Financial Data	UNAUDITED INTERIM FINANCIAL DATA
	Summarized quarterly results for years ended December 31, 2014 and 2013 are as follows:


			Quarter Ended
	(In thousands, except per share amounts)		31-Mar		30-Jun		30-Sep				31-Dec
	2014
	Operating revenues		$	514,590	$	478,957	$	505,222			$	494,993

	Operating income (loss)		147,461		119,972		(796,421		)		4,311

	Net income (loss) attributable to Paragon Offshore		124,566		95,045		(869,160		)	-2	2,803

	Earnings (loss) per share -		$	1.47	$	1.12	$	(10.26	)	-3	$	0.03
	basic and diluted (1)

	2013
	Operating revenues		$	454,070	$	464,945	$	489,682			$	484,305

	Operating income		102,601		106,143		187,240				57,761

	Net income		82,572		82,544		157,635				37,555

	Earnings per share -		$	0.97	$	0.97	$	1.86		-3	$	0.44
	basic and diluted (1)

	-1	Earnings (loss) per share is computed independently for each of the quarters presented. Therefore, the sum of the quarters’ net income per share may not equal the total computed for the year.

	-2	Net income for the three month period ended September 30, 2014 has been revised to correct an error related to the amortization of our deferred tax liability related to the Paragon DPDS1. In connection with the impairment of the Paragon DPDS1 during the third quarter, a tax benefit should have been recorded to proportionally eliminate the deferred tax liability specifically related to the Paragon DPDS1. The third quarter tax provision as reported was $75.7 million and after revision for this additional non-cash tax benefit of $25.1 million, or $0.28 per diluted share, the tax provision was revised to $50.6 million. This revision also changes the reported net loss from $894.2 million to an as revised $869.2 million of net loss for the third quarter. We have concluded that this misstatement was not material to our consolidated and combined financial statements for the aforementioned prior period.

	-3	Earnings per share - basic and diluted for the three month period ended September 30, 2014 and 2013 has been revised to correct an error related to the allocation of unvested share-based awards. No earnings should have been allocated to unvested share-based payment awards in our earnings per share calculation due to our net loss in the three months ended September 30, 2014. Our basis of presentation related to weighted average unvested shares outstanding for all periods prior to the Spin-Off should not include our unvested restricted stock units that were granted to our employees in conjunction with Paragon's 2014 Employee Omnibus Incentive Plan.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2014
Accounting Policies [Abstract]
Principles of Combination and Consolidation	Principles of Combination and Consolidation
Principles of Combination and Consolidation	The consolidated and combined financial statements include our accounts, those of our wholly-owned subsidiaries and entities in which we hold a controlling financial interest. The combined financial statements of our Predecessor include our net assets and results of our operations as previously described. All significant intercompany accounts and transactions have been eliminated in combination and consolidation.
Foreign Currency Translation	Foreign Currency Translation
Foreign Currency Translation	We define foreign currency as any non-U.S. denominated currency. In non-U.S. locations where the U.S. dollar has been designated as the functional currency (based on an assessment of the economic circumstances of the foreign operation), local currency transaction gains and losses are included in net income. In non-U.S. locations where the local currency is the functional currency, assets and liabilities are translated at the rates of exchange on the balance sheet date, while income and expense items are translated at average rates of exchange during the year. The resulting gains or losses arising from the translation of accounts from the functional currency to the U.S. dollar are included in “Accumulated other comprehensive loss” in the accompanying consolidated and combined balance sheets.
Cash and Cash Equivalents	Cash and Cash Equivalents
Cash and Cash Equivalents	Cash and cash equivalents include cash on hand, demand deposits with banks and all highly liquid investments with original maturities of three months or less. Our cash, cash equivalents and short-term investments are subject to potential credit risk, and certain of our cash accounts carry balances greater than federally insured limits. Cash and cash equivalents are primarily held by major banks or investment firms. Our cash management and investment policies restrict investments to lower risk, highly liquid securities and we perform periodic evaluations of the relative credit standing of the financial institutions with which we conduct business.
Fair Value Measurements	Fair Value Measurements
	We estimate fair value at a price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market for the asset or liability. Our valuation techniques require inputs that we categorize using a three-level hierarchy, from highest to lowest level of observable inputs, as follows: (1) unadjusted quoted prices for identical assets or liabilities in active markets (“Level 1”), (2) direct or indirect observable inputs, including quoted prices or other market data, for similar assets or liabilities in active markets or identical assets or liabilities in less active markets (“Level 2”) and (3) unobservable inputs that require significant judgment for which there is little or no market data (“Level 3”). When multiple input levels are required for a valuation, we categorize the entire fair value measurement according to the lowest level of input that is significant to the measurement even though we may have also utilized significant inputs that are more readily observable.
	Our cash and cash equivalents, accounts receivable and accounts payable are by their nature short-term. As a result, the carrying values included in the accompanying consolidated and combined balance sheets approximate fair value.
Property and Equipment, at Cost	Property and Equipment, at Cost
	Property and equipment is stated at cost, reduced by provisions to recognize economic impairment in value whenever events or changes in circumstances indicate an asset’s carrying value may not be recoverable. Major replacements and improvements are capitalized. When assets are sold, retired or otherwise disposed of, the cost and related accumulated depreciation are eliminated from the accounts and the gain or loss is recognized. Drilling equipment and facilities are depreciated using the straight-line method over their estimated useful lives as of the date placed in service or date of major refurbishment. Estimated useful lives of our drilling equipment range from three to thirty years. Other property and equipment is depreciated using the straight-line method over useful lives ranging from two to twenty-five years. Included in accounts payable were $24 million and $29 million of capital accruals as of December 31, 2014 and 2013, respectively.
	Scheduled maintenance of equipment is performed based on the number of hours operated in accordance with our preventative maintenance program. Routine repair and maintenance costs are charged to expense as incurred; however, the costs of overhauls and asset replacement projects that benefit future periods and which typically occur every three to five years are capitalized when incurred and depreciated over an equivalent period. These overhauls and asset replacement projects are included in “Property and equipment, at cost” in our consolidated and combined balance sheets. Such amounts, net of accumulated depreciation, totaled $193 million and $211 million at December 31, 2014 and 2013, respectively. Depreciation expense related to overhauls and asset replacement totaled $85 million, $76 million and $66 million for the years ended December 31, 2014, 2013 and 2012, respectively.
	We evaluate the impairment of property and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In addition, on an annual basis, we complete an impairment analysis on all of our rigs. An impairment loss on our property and equipment exists when the estimated undiscounted cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. Any impairment loss recognized represents the excess of the asset’s carrying value over the estimated fair value. As part of this analysis, we make assumptions and estimates regarding future market conditions. To the extent actual results do not meet our estimated assumptions we may take an impairment loss in the future (see Note 6, “Property and Equipment”).
Deferred Costs	Debt Issuance Costs
Deferred Costs	Deferred debt issuance costs are amortized through interest expense over the life of the debt securities.
Revenue Recognition	Revenue Recognition
	Our typical dayrate drilling contracts require our performance of a variety of services for a specified period of time. We determine progress towards completion of the contract by measuring efforts expended and the cost of services required to perform under a drilling contract, as the basis for our revenue recognition. Revenues generated from our dayrate basis drilling contracts and labor contracts are recognized on a per day basis as services are performed and begin upon the contract commencement, as defined under the specified drilling or labor contract. Dayrate revenues are typically earned, and contract drilling expenses are typically incurred ratably over the term of our drilling contracts. We review and monitor our performance under our drilling contracts to confirm the basis for our revenue recognition. Revenues from bonuses are recognized when earned.
	It is typical in our dayrate drilling contracts to receive compensation and incur costs for mobilization, equipment modification, or other activities prior to the commencement of the contract. Any such compensation may be paid through a lump-sum payment or other daily compensation. Pre-contract compensation and costs are deferred until the contract commences. The deferred pre-contract compensation and costs are amortized, using the straight-line method, into income over the term of the initial contract period, regardless of the activity taking place. This approach is consistent with the economics for which the parties have contracted. Once a contract commences, we may conduct various activities, including drilling and well bore related activities, rig maintenance and equipment installation, movement between well locations or other activities.
	Deferred revenues from drilling contracts totaled $9 million at December 31, 2014 as compared to $22 million at December 31, 2013. Such amounts are included in either “Other current liabilities” or “Other liabilities” in our consolidated and combined balance sheets, based upon the expected time of recognition of such deferred revenues. Deferred costs associated with deferred revenues from drilling contracts totaled $2 million at December 31, 2014 as compared to $24 million at December 31, 2013. Such amounts are included in either “Prepaid and other current assets” or “Other assets” in our consolidated and combined balance sheets, based upon the expected time of recognition of such deferred costs.
	We record reimbursements from customers for “out-of-pocket” expenses as revenues and the related direct cost as operating expenses.
Income Taxes	Income Taxes
	We operate through various subsidiaries in numerous countries throughout the world. Due to our global presence, we are subject to tax laws, policies, treaties and regulations, as well as the interpretation or enforcement thereof, in the United Kingdom, the U.S., and any other jurisdictions in which we or any of our subsidiaries operate, are incorporated, or otherwise considered to have a tax presence. Our income tax expense is based upon our interpretation of the tax laws in effect in various countries at the time that the expense was incurred. If the taxing authorities do not agree with our assessment of the effects of such laws, policies, treaties and regulations, or the interpretation or enforcement thereof, this could have a material adverse effect on us including the imposition of a higher effective tax rate on our worldwide earnings or a reclassification of the tax impact of our significant corporate restructuring transactions.
	The operations of our Predecessor have been included in certain income tax returns of Noble. The income tax provisions and related deferred tax assets and liabilities that have been reflected in our Predecessor’s historical combined financial statements have been computed as if our Predecessor were a separate taxpayer using the separate return method. As a result, actual tax transactions that would not have occurred had our Predecessor been a separate entity have been eliminated in the preparation of these consolidated and combined financial statements. Income taxes of our Predecessor include results of the operations of the standard specification drilling units. In instances where the operations of the standard specification drilling units of our Predecessor were included in the filing of a return with high specification units, an allocation of income taxes was made.
Earnings/Loss Per Share	Earnings/Loss per Share
Earnings/Loss Per Share	Our unvested share-based payment awards, which contain non-forfeitable rights to dividends, are participating securities and are included in the computation of earnings per share pursuant to the “two-class” method. The “two-class” method allocates undistributed earnings between ordinary shares and participating securities; however, in a period of net loss, losses are not allocated to our participating securities. The diluted earnings per share calculation under the “two-class” method would also includes the dilutive effect of potential shares issued in connection with stock options. The dilutive effect of stock options would be determined using the treasury stock method. The diluted earnings per share calculation under the two class method is the same as our basic earnings per share calculation as we currently have no stock options or other potentially dilutive securities outstanding.
Share-Based Compensation Plans	Share-Based Compensation Plans
Share-Based Compensation Plans	We record the grant date fair value of share-based compensation arrangements as compensation cost using a straight-line method over the service period. Share-based compensation is expensed or capitalized based on the nature of the employee’s activities.
Certain Significant Estimates and Contingent Liabilities	Certain Significant Estimates and Contingent Liabilities
Certain Significant Estimates and Contingent Liabilities	The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Certain accounting policies involve judgments and uncertainties to such an extent that there is reasonable likelihood that materially different amounts could have been reported under different conditions, or if different assumptions had been used. We evaluate our estimates and assumptions on a regular basis. We base our estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates and assumptions used in preparation of our consolidated and combined financial statements included elsewhere
Reclassifications	Reclassifications
Reclassifications	Certain amounts in prior periods have been reclassified to conform to the current year presentation.
New Accounting Pronouncements	NEW ACCOUNTING PRONOUCEMENTS
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which amends FASB Accounting Standards Codification (“ASC”) Topic 205, “Presentation of Financial Statements” and ASC Topic 360, “Property, Plant, and Equipment.” This ASU alters the definition of a discontinued operation to cover only asset disposals that are a strategic shift with a major effect on an entity’s operations and finances, and calls for more extensive disclosures about a discontinued operation’s assets, liabilities, income and expenses. The guidance is effective for all disposals, or classifications as held-for-sale, of components of an entity that occur within annual periods, and interim periods within those annual periods, beginning on or after December 15, 2014. We do not expect that our adoption will have a material impact on our financial statements or disclosures in our financial statements.
	In May 2014, the FASB issued ASU No. 2014-09, which amends ASC Topic 606, “Revenue from Contracts with Customers.” The amendments in this ASU are intended to provide a more robust framework for addressing revenue issues, improve comparability of revenue recognition practices and improve disclosure requirements. The amendments in this accounting standard update are effective for interim and annual reporting periods beginning after December 15, 2016. We are evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures.
	In June 2014, the FASB issued ASU No. 2014-12, which amends ASC Topic 718, “Compensation–Stock Compensation.” The guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition and should not be reflected in the estimate of the grant-date fair value of the award. The guidance is effective for annual periods beginning after December 15, 2015. The guidance can be applied prospectively for all awards granted or modified after the effective date or retrospectively to all awards with performance targets outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We are evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures.
	In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern.” This ASU codifies management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The guidance is effective for interim and annual periods ending after December 15, 2016 and early adoption is permitted. We still evaluating what impact, if any, the adoption of this guidance will have on our financial condition, results of operations, cash flows or financial disclosures.
	In January 2015, the FASB issued ASU 2015-01, “Income Statement – Extraordinary and Unusual Items.” This ASU simplifies income statement classification by removing the concept of extraordinary items from U.S. GAAP. As a result, items that are both unusual and infrequent will no longer be separately reported net of tax after continuing operations. The guidance is effective for interim and annual periods ending after December 15, 2015 and early adoption is permitted. We do not expect that our adoption will have a material impact on our financial statements or disclosures in our financial statements.

Organization_and_Basis_of_Pres1

Organization and Basis of Presentation (Tables) (Predecessor)	12 Months Ended
	Dec. 31, 2014
Predecessor
Condensed Balance Sheet Statements, Captions [Line Items]
Supplemental Balance Sheet Disclosures	The following table presents the opening balance sheet of our Predecessor as of August 1, 2014 that was distributed to us in connection with the Spin-Off.


		August 1,
	(In thousands, except share amounts)	2014
	ASSETS
	Current assets
	Cash and cash equivalents	$	104,152

	Accounts receivable	377,324

	Prepaid and other current assets	126,264

	Total current assets	607,740

	Property and equipment, at cost	5,615,161

	Accumulated depreciation	(2,640,273		)
	Property and equipment, net	2,974,888

	Other assets	102,419

	Total assets	$	3,685,047

	LIABILITIES AND EQUITY
	Current liabilities
	Current maturities of long-term debt	$	4,875

	Accounts payable	129,952

	Accrued payroll and related costs	67,256

	Taxes payable	53,384

	Interest payable	3,770

	Other current liabilities	117,887

	Total current liabilities	377,124

	Long-term debt	1,725,125

	Deferred income taxes	79,659

	Other liabilities	115,621

	Total liabilities	2,297,529


	Equity
	Ordinary shares	848

	Additional paid-in capital	1,417,119

	Accumulated other comprehensive loss	(30,449		)
	Total equity	1,387,518

	Total liabilities and equity	$	3,685,047

Acquisition_Acquisition_Tables

Acquisition Acquisition (Tables)	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes our allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the acquisition date of November 17, 2014:


	(In thousands)	Fair Value
	ASSETS
	Current assets
	Accounts receivable	$	26,169

	Restricted cash	5,023

	Prepaid and other current assets	17,967

	Total current assets	49,159

	Property and equipment	516,979

	Goodwill	13,290

	Other assets	25,520

	Total assets acquired	$	604,948

	LIABILITIES
	Current liabilities
	Current maturities of long-term debt	$	32,970

	Accounts payable	16,227

	Accrued payroll and related costs	3,754

	Taxes payable	4,378

	Interest payable	6,466

	Other current liabilities	19,120

	Total current liabilities	82,915

	Long-term debt	333,697

	Other liabilities	456

	Total liabilities assumed	$	417,068

	Accumulated other comprehensive loss	(40		)
	Non-controlling interest	11,351

	Purchase price, net of cash acquired	$	176,569

Business Acquisition, Pro Forma Information	The following unaudited pro forma financial information for the year ended December 31, 2014 and 2013, gives effect to the Prospector acquisition as if it had occurred at the beginning of the periods presented. The pro forma financial information for the year ended December 31, 2014 includes pro forma results for the period prior to the closing date of November 17, 2014 and actual results for the period from November 17, 2014 through December 31, 2014. The pro forma results are based on historical data and are not intended to be indicative of the results of future operations.



	(In thousands, except per share amounts)	2014			2013
	Total operating revenues	$	42,456		$	4,200

	Net loss	(55,802		)	(16,050		)
	Net loss to Paragon Offshore	(55,054		)	(15,835		)
	Loss per share (basic and diluted)	$	(0.65	)	$	(0.19	)

EarningsLoss_Per_Share_Tables

Earnings/Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net income and earnings (loss) per share:


		Year Ended December 31,
	(In thousands, except per share amounts)	2014			2013		2012
	Allocation of income - basic and diluted
	Net income (loss) attributable to Paragon	$	(646,746	)	$	360,305	$	126,237

	Earnings allocated to unvested share-based payment awards	—			—		—

	Net income (loss) to ordinary shareholders - Basic and diluted	$	(646,746	)	$	360,305	$	126,237


	Weighted average shares outstanding
	Basic and diluted	84,753			84,753		84,753


	Earnings (loss) per share
	Basic and diluted	$	(7.63	)	$	4.25	$	1.49

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shares Available for Issuance and Outstanding Restricted Stock Units	Shares available for issuance and outstanding restricted stock units for our two stock incentive plans as of December 31, 2014 are as follows:


	(In shares)		Employee Plan		Director Plan
	Shares available for future awards or grants		4,719,570		240,258

	Outstanding unvested restricted stock units		3,755,770		259,742

Summary of Restricted Stock Activity	A summary of restricted stock activity for the year ended December 31, 2014 is as follows:


			TVRSU's Outstanding		Weighted		PVRSU's		Weighted
					Average		Outstanding (1)		Average
					Award-Date				Award-Date
					Fair Value				Fair Value
	Outstanding at August 1, 2014		—		$	—	—		$	—

	Awarded		3,894,601		10.54		277,118		11

	Vested		—		—		—		—

	Forfeited		(140,835	)	10.7		(15,372	)	11

	Outstanding at December 31, 2014		3,753,766		$	10.54	261,746		$	11


	-1	The number of PVRSU’s shown equals the units that would vest if the “maximum” level of performance is achieved. The minimum number of units is zero and the “target” level of performance is 50% of the amounts shown.

Debt_Tables

Debt (Tables)	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Schedule of Long-term Debt	A summary of long-term debt at December 31, 2014 and 2013 is as follows:


			December 31,				December 31,
	(In thousands)		2014				2013
	Senior Notes due 2022, bearing fixed interest at 6.75% per annum		$	457,572			$	—

	Senior Notes due 2024, bearing fixed interest at 7.25% per annum		537,010				—

	Term Loan Facility, bearing interest at 3.75%, net of unamortized discount		645,357				—

	Revolving Credit Facility		154,000				—

	Prospector 2019 Second Lien Callable Bond		101,000				—

	Prospector 2018 Senior Secured Credit Facility		265,666				—

	Noble Credit Facilities / Commercial Paper Program		—				1,561,141

	Less: Current maturities of long-term debt		(272,166		)		—

			$	1,888,439			$	1,561,141

Estimated Fair Value of Long Term Debt	The following table presents the estimated fair value of our long-term debt as of December 31, 2014:


		December 31, 2014
	(In thousands)	Carrying Value				Estimated Fair Value
	Senior unsecured notes:
	6.75% Senior Notes due July 15, 2022	$	457,572			$	275,115

	7.25% Senior Notes due August 15, 2024	537,010				319,521

	Total senior unsecured notes	$	994,582			$	594,636


	Term Loan Facility, bearing interest at 3.75%, net of unamortized discount	$	645,357			$	523,250


	Prospector 2019 Second Lien Callable Bond	$	101,000			$	101,000

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	Income before income taxes consists of the following:


		Year Ended December 31,
	(In thousands)	2014				2013				2012
	United States	$	70,949			$	114,314			$	65,574

	Non-U.S.	(648,360		)		331,596				109,351

	Total	$	(577,411	)		$	445,910			$	174,925

Schedule of Components of Income Tax Expense (Benefit)	The income tax provision consists of the following:


		Year Ended December 31,
	(In thousands)	2014				2013				2012
	Current - United States	$	45,754			$	20,732			$	14,637

	Current - Non-U.S.	43,115				55,691				49,108

	Deferred - United States	(30,391		)		13,425				(13,179		)

	Deferred - Non-U.S.	10,916				(4,243		)		(1,878		)

	Total	$	69,394			$	85,605			$	48,688

Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of tax rates outside of Switzerland and the U.K. to our effective rate is shown below:


		Year Ended December 31,
		2014			2013			2012
	Effect of:
	Tax rates which are different than the U.K. and Swiss rates	(15.3	)%		17.4	%		28	%
	Tax effect from asset impairment	4.3	%		—	%		—	%
	Change in valuation allowance	—	%		2	%		—	%
	Reserve for (resolution of) tax authority audits	(1.0	)%		(0.2	)%		(0.2	)%
	Total	(12.0	)%		19.2	%		27.8	%
Schedule of Deferred Tax Assets and Liabilities	The components of the net deferred taxes are as follows:


	(In thousands)	2014				2013
	Deferred tax assets
	Accrued expenses not currently deductible	$	3,556			$	—

	Net operating loss carry forwards	22,645				43,409

	Deferred tax assets	26,201				43,409

	Less: Valuation allowance	—				(8,672		)

	Net deferred tax assets	26,201				34,737

	Deferred tax liabilities
	Excess of net book basis over remaining tax basis of Property and equipment	(58,844		)		(122,581		)
	Deferred taxes on unremitted earnings	(6,043		)		—

	Contract market valuation	(5,434		)		—

	Other	(838		)		—

	Deferred tax liabilities	(71,159		)		(122,581		)
	Net deferred tax liabilities	$	(44,958	)		$	(87,844	)
Schedule of Unrecognized Tax Benefits Roll Forward	The following is a reconciliation of the liabilities related to our unrecognized tax benefits, excluding interest and penalties:


	(In thousands)	2014				2013				2012
	Gross balance at January 1,	$	32,336			$	37,969			$	44,188

	Additions based on tax positions related to the current year	4,442				532				536

	Additions for tax positions of prior years	1,424				4,599				2,430

	Reductions for tax positions of prior years	(7,298		)		(214		)		—

	Expiration of statutes	(1,225		)		(2,712		)		(3,130		)
	Tax settlements	—				(7,838		)		(6,055		)

	Gross balance at December 31,	29,679				32,336				37,969

	Related tax benefits	—				(1,983		)		(6,590		)

	Net balance at December 31,	$	29,679			$	30,353			$	31,379

Liability For Uncertain Tax Positions	The liabilities related to our unrecognized tax benefits are comprised of the following:


	(In thousands)	2014				2013
	Unrecognized tax benefits, excluding interest and penalties	$	29,679			$	30,353

	Interest and penalties included in “Other liabilities”	10,517				6,137

	Unrecognized tax benefits, including interest and penalties	$	40,196			$	36,490

Employee_Benefit_Plans_Tables

Employee Benefit Plans (Tables)	12 Months Ended
Employee Benefit Plans (Tables)	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Schedule of Changes in Projected Benefit Obligations	A reconciliation of the changes in projected benefit obligations (“PBO”) for our pension plans is as follows:


			Year Ended December 31,
	(In thousands)		2014
	Benefit obligation at beginning of year		$	95,101
	Benefit obligation at beginning of year		$	95,101
	Service cost		4,819
	Service cost		4,819
	Interest cost		2,601
	Interest cost		2,601
	Actuarial loss (gain)		39,499
	Actuarial loss (gain)		39,499
	Amendments		(139		)
	Benefits paid		(1,240		)
	Plan participants' contribution		512
	Plan participants' contribution		512
	Foreign exchange rate changes		(14,806		)
	Other: curtailment		(1,985		)
	Benefit obligation at end of year		$	124,362
	Benefit obligation at end of year		$	124,362
Schedule of Changes in Fair Value of Plan Assets	A reconciliation of the changes in fair value of plan assets is as follows:


			Year Ended December 31,
	(In thousands)		2014
	Fair value of plan assets at beginning of year		$	97,453
	Fair value of plan assets at beginning of year		$	97,453
	Actual return on plan assets		38,252
	Actual return on plan assets		38,252
	Employer contribution		6,565
	Employer contribution		6,565
	Benefits paid		(833		)
	Plan participants' contributions		512
	Plan participants' contributions		512
	Expenses paid		(407		)
	Foreign exchange rate changes		(15,951		)
	Fair value of plan assets at end of year		$	125,591
	Fair value of plan assets at end of year		$	125,591
Schedule of Net Funded Status	The funded status of the plans is as follows:


			Year Ended December 31,
	(In thousands)		2014
	Funded status		$	1,229
	Funded status		$	1,229
Schedule of Amounts Recognized in Balance Sheet

			Year Ended December 31,
	(In thousands)		2014
	Funded status		$	1,229
	Funded status		$	1,229
	Amounts recognized in the consolidated and combined balance sheets consist of:
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Amounts recognized in Accumulated other comprehensive loss (“AOCL”) consist of:


			Year Ended December 31,
	(In thousands)		2014
	Actuarial loss (gain)		$	20,539
	Actuarial loss (gain)		$	20,539
	Prior service cost (credit)		2,063
	Prior service cost (credit)		2,063
	Deferred income tax		309
	Deferred income tax		309
	Accumulated other comprehensive loss		$	22,911
	Accumulated other comprehensive loss		$	22,911
Schedule of Net Benefit Costs	Pension cost includes the following components:


			Year Ended December 31,
	(In thousands)		2014
	Service cost		$	4,819
	Service cost		$	4,819
	Interest cost		2,601
	Interest cost		2,601
	Return on plan assets		(2,625		)
	Amortization of Prior Service Cost		(16		)
	Amortization of transition obligation		—
	Amortization of transition obligation		—
	Amortization net actuarial loss (gain)		1,077
	Amortization net actuarial loss (gain)		1,077
	Net curtailment (gain)		(66		)
	Net pension expense		$	5,790
	Net pension expense		$	5,790
Schedule of Accumulated and Projected Benefit Obligations	Disaggregated information regarding our pension plans is summarized below:


			Year Ended December 31,
	(In thousands)		2014
	Projected benefit obligation		$	124,362
	Projected benefit obligation		$	124,362
	Accumulated benefit obligation		119,632
	Accumulated benefit obligation		119,632
	Fair value of plan assets		125,591
	Fair value of plan assets		125,591
Schedule of Assumptions Used	The key assumptions for the plans are summarized below:


			Year Ended December 31,
	Weighted Average Assumptions Used to Determine Benefit Obligations		2014
	Discount rate		2.3% to 2.4%
	Discount rate		2.3% to 2.4%
	Rate of compensation increase		3.6	%


			Year Ended December 31,
	Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost		2014
	Discount rate		2.7% to 3.9%
	Discount rate		2.7% to 3.9%
	Expected long-term return on plan assets		2.7% to 2.8%
	Expected long-term return on plan assets		2.7% to 2.8%
	Rate of compensation increase		3.6	%
Schedule of Allocation of Plan Assets	The actual fair value of our pension plans as of December 31, 2014 is as follows:


							31-Dec-14
							Estimated Fair Value Measurements
	(In thousands)		Carrying				Quoted			Significant Other Observable Inputs		Significant Unobservable
			Amount				Prices in Active			(Level 2)		Inputs
							Markets					(Level 3)
							(Level 1)
	Fixed Income securities:
	Corporate Bonds		$	32,476			$	—		$	32,477	$	—
	Corporate Bonds		$	32,476			$	—		$	32,477	$	—
	Other		93,115				—			—		93,115
	Other		93,115				—			—		93,115
	Total		$	125,591			$	—		$	32,477	$	93,115
	Total		$	125,591			$	—		$	32,477	$	93,115
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets	The following table details the activity related to these investments during the year.


			Market Value
	Balance as of December 31, 2013		$	68,280
	Balance as of December 31, 2013		$	68,280
	Assets sold/benefits paid		(735		)
	Return on plan assets		25,570
	Return on plan assets		25,570
	Balance as of December 31, 2014		$	93,115
	Balance as of December 31, 2014		$	93,115
Schedule of Expected Benefit Payments	The following table summarizes our benefit payments at December 31, 2014 estimated to be paid within the next ten years:


						Payments by Period
		Total				2015			2016		2017	2018		2019	Five Years
		Total				2015			2016		2017	2018		2019	Thereafter
	Estimated benefit payments	$	18,490			868			993		1,168	1,390		1,618	12,453
	Estimated benefit payments	$	18,490			868			993		1,168	1,390		1,618	12,453

Concentration_of_Market_and_Cr1

Concentration of Market and Credit Risk (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the carrying amount and estimated fair value of our financial instruments recognized at fair value on a recurring basis:

December 31, 2014

Estimated Fair Value Measurement

Carrying

Quoted

Significant

Prices in

Other

Unobservable

Active

Observable

Inputs

Markets

Inputs

(In thousands)

Amount

(Level 1)

(Level 2)

(Level 3)

Assets -

Interest rate swaps

531

—

531

—

Liabilities -

Interest rate swaps

1,530

—

1,530

—

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table sets forth the components of “Accumulated other comprehensive loss” (“AOCL”) for the years ended December 31, 2014 and 2013 and changes in AOCL by component for the year ended December 31, 2014. All accounts within the tables are shown net of tax.


	(In thousands)		Gains /			Defined			Foreign			Total
			(Losses) on			Benefit			Currency
			Cash Flow			Pension Items (2)			Items
			Hedges (1)
	Balance at December 31, 2013		$	—		$	—		$	(6	)	$	(6	)

	Activity during period:
	AOCL recorded in connection with Spin-Off		4,027			(21,770		)	(12,706		)	(30,449		)

	AOCL recorded in connection with Prospector acquisition		—			—			(40		)	(40		)

	Other comprehensive loss before reclassification		(4,041		)	—			(1,481		)	(5,522		)

	Amounts reclassified from AOCL		14			(1,141		)	—			(1,127		)

	Net other comprehensive income (loss)		(4,027		)	(1,141		)	(1,481		)	(6,649		)
	Balance at December 31, 2014		$	—		$	(22,911	)	$	(14,233	)	$	(37,144	)


	-1	Gains / (losses) on cash flow hedges are related to our foreign currency forward contracts. Reclassifications from AOCL are recognized through “Contract drilling services operating costs and expenses” on our consolidated and combined statements of income. See Note 11, “Derivative instruments and hedging activities” for additional information.

	-2	Defined benefit pension items relate to actuarial losses, prior service credits, and the amortization of actuarial losses and prior service credits. Reclassifications from AOCL are recognized as expense on our consolidated and combined statements of income through either “Contract drilling services” or “General and administrative.” See Note 10, “Employee benefit plans” for additional information.

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments for operating leases for years ending December 31 are as follows (in thousands):


	2015	$	14,734

	2016	$	10,871

	2017	$	4,494

	2018	$	2,596

	2019	$	2,032

	Thereafter	$	3,462

Schedule of Purchase Commitments	At December 31, 2014, our purchase commitments which consist of obligations outstanding to external vendors primarily related to future capital purchases, were as follows (in thousands):


	2015	$	454,098

	2016	$	199,161

Schedule of Related Party Transactions	Pursuant to these agreements with Noble, the consolidated and combined balance sheet consists of the following balances due from and to Noble as of December 31, 2014 (in thousands):


	Balance Sheet Position	Amount
	Other current assets	$	26,386

	Other assets	6,875

	Due from Noble	$	33,261


	Accounts payable	$	1,655

	Other current liabilities	51,169

	Other liabilities	23,563

	Due to Noble	$	76,387

Segment_and_Related_Informatio1

Segment and Related Information (Tables)	12 Months Ended
	Dec. 31, 2014
Segment Reporting [Abstract]
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	The following table presents revenues and identifiable assets by country based on the location of the service provided:


		Revenues						Identifiable Assets
		Year Ended December 31,						As of December 31,
	(In thousands)	2014		2013		2012		2014		2013
	Country:
	Mexico	$	326,352	$	367,732	$	320,436	$	472,032	$	351,123

	Brazil	488,884		312,287		284,061		1,863,774		1,864,358

	United Kingdom	193,908		245,789		141,435		90,410		196,479

	The Netherlands	284,651		179,768		210,577		169,088		112,561

	Qatar	94,320		139,891		74,889		96,702		130,515

	United States	85,060		117,951		105,469		94,391		712,713

	United Arab Emirates	139,318		108,256		79,940		228,284		152,699

	Nigeria	—		107,750		148,961		11,308		54,539

	India	79,201		103,282		58,355		135,909		200,799

	Other	302,068		210,296		117,734		91,491		207,013

		$	1,993,762	$	1,893,002	$	1,541,857	$	3,253,389	$	3,982,799

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Elements [Abstract]
Effect of Changes in Other Assets and Liabilities on Cash Flows from Operating Activities	The net effect of changes in other assets and liabilities on cash flows from operating activities is as follows:


		Year Ended December 31,
	(In thousands)	2014			2013			2012
	Accounts receivable	$	(178,108	)	$	(34,582	)	$	(116,714	)
	Other current assets	42,922			22,181			(2,941		)

	Other assets	(33,637		)	16,451			39,484

	Accounts payable	25,890			8,530			(12,485		)

	Other current liabilities	14,273			18,645			4,562

	Other liabilities	(29,514		)	(16,385		)	(4,920		)
	Net change in other assets and liabilities	$	(158,174	)	$	14,840		$	(93,014	)

Additional Cash Flow Information	Additional cash flow information is as follows:


		Year Ended December 31,
	(In thousands)	2014			2013			2012
	Cash paid during the period for:
	Interest, net of amounts capitalized	$	21,109		$	5,791		$	3,856

	U.S. and Non-U.S. income taxes	85,248			76,423			63,745

	Non-cash activities:
	Increase (decrease) in accounts payable and accrued liabilities related to capital expenditures	$	1,230		$	(12,365	)	$	(8,463	)

Unaudited_Interim_Financial_Da1

Unaudited Interim Financial Data (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Summarized Quarterly Results	Summarized quarterly results for years ended December 31, 2014 and 2013 are as follows:


			Quarter Ended
	(In thousands, except per share amounts)		31-Mar		30-Jun		30-Sep				31-Dec
	2014
	Operating revenues		$	514,590	$	478,957	$	505,222			$	494,993

	Operating income (loss)		147,461		119,972		(796,421		)		4,311

	Net income (loss) attributable to Paragon Offshore		124,566		95,045		(869,160		)	-2	2,803

	Earnings (loss) per share -		$	1.47	$	1.12	$	(10.26	)	-3	$	0.03
	basic and diluted (1)

	2013
	Operating revenues		$	454,070	$	464,945	$	489,682			$	484,305

	Operating income		102,601		106,143		187,240				57,761

	Net income		82,572		82,544		157,635				37,555

	Earnings per share -		$	0.97	$	0.97	$	1.86		-3	$	0.44
	basic and diluted (1)

	-1	Earnings (loss) per share is computed independently for each of the quarters presented. Therefore, the sum of the quarters’ net income per share may not equal the total computed for the year.

	-2	Net income for the three month period ended September 30, 2014 has been revised to correct an error related to the amortization of our deferred tax liability related to the Paragon DPDS1. In connection with the impairment of the Paragon DPDS1 during the third quarter, a tax benefit should have been recorded to proportionally eliminate the deferred tax liability specifically related to the Paragon DPDS1. The third quarter tax provision as reported was $75.7 million and after revision for this additional non-cash tax benefit of $25.1 million, or $0.28 per diluted share, the tax provision was revised to $50.6 million. This revision also changes the reported net loss from $894.2 million to an as revised $869.2 million of net loss for the third quarter. We have concluded that this misstatement was not material to our consolidated and combined financial statements for the aforementioned prior period.

	-3	Earnings per share - basic and diluted for the three month period ended September 30, 2014 and 2013 has been revised to correct an error related to the allocation of unvested share-based awards. No earnings should have been allocated to unvested share-based payment awards in our earnings per share calculation due to our net loss in the three months ended September 30, 2014. Our basis of presentation related to weighted average unvested shares outstanding for all periods prior to the Spin-Off should not include our unvested restricted stock units that were granted to our employees in conjunction with Paragon's 2014 Employee Omnibus Incentive Plan.

Organization_and_Basis_of_Pres2

Organization and Basis of Presentation - Additional Information (Details)	0 Months Ended	12 Months Ended
	Aug. 01, 2014	Dec. 31, 2014
	Aug. 01, 2014	rig
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of jackups		34
Number of floaters		6
Number of drillships		4
Number of semisubmersibles		2
Ratio of Paragon shares received per share of Noble	0.3333

Organization_and_Basis_of_Pres3

Organization and Basis of Presentation - Acquisition Transaction (Details) (Prospector Offshore Drilling S.A., USD $)	0 Months Ended	1 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Nov. 17, 2014	Dec. 31, 2014	Feb. 23, 2015	Jan. 22, 2015
	rig	Dec. 31, 2014	Feb. 23, 2015	Jan. 22, 2015
Business Acquisition [Line Items]
Initial Prospector shares acquired (in shares)	89.3
Ownership percentage of outstanding shares following acquisition	94.40%
Cash consideration paid	$190	$10
Additional Prospector shares acquired (in shares)		4.1
Prospector shares owned (in shares)		93.4
Ownership percentage following additional purchase of shares		98.70%
Number of jackups owned and operated by Prospector	2
Number of jackups under construction	3
Subsequent Event
Business Acquisition [Line Items]
Cash consideration paid			$202
Ownership percentage following additional purchase of shares			100.00%	99.60%

Organization_and_Basis_of_Pres4

Organization and Basis of Presentation - Basis of Presentation (Details) (USD $)	12 Months Ended	0 Months Ended	1 Months Ended	0 Months Ended
	Dec. 31, 2014	Nov. 17, 2014	Jan. 31, 2015	Mar. 12, 2015	Jul. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Jul. 18, 2014
	rig	rig	Jan. 31, 2015	Mar. 12, 2015	rig	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Jul. 18, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of drilling units retained by Predecessor, included in historical financial statements					3
Number of drilling units sold by Predecessor, included in historical financial statements					3
Cash and cash equivalents	$56,772,000					$36,581,000	$70,538,000	$75,767,000
Long-term Purchase Commitment [Line Items]
Purchase obligation due in 2015	454,098,000
Purchase obligation due in 2016	199,161,000
Number of jackups	34
Property and equipment, at cost	4,842,112,000					6,067,066,000
Capital Addition Purchase Commitments [Member]
Long-term Purchase Commitment [Line Items]
Purchase obligation due in 2015	400,000,000
Purchase obligation due in 2016	199,000,000
Number of jackups under construction	3
Property and equipment, at cost	32,000,000
Prospector Offshore Drilling S.A.
Long-term Purchase Commitment [Line Items]
Number of jackups under construction		3
Secured Debt \| Term Loan Facility
Debt Instrument [Line Items]
Par value of Prospector bonds outstanding									650,000,000
Callable Bond \| Acquired Bonds \| Prospector Offshore Drilling S.A.
Debt Instrument [Line Items]
Par value of Prospector bonds outstanding		100,000,000
Callable Bond \| Acquired Bonds \| Prospector Offshore Drilling S.A. \| Subsequent Event
Debt Instrument [Line Items]
Par value of bonds back to Prospector			99,600,000
Percentage of principal amount redeemed			101.00%
Par value of Prospector bonds outstanding				400,000
Line of Credit \| Acquired Senior Credit Facility \| Prospector Offshore Drilling S.A.
Debt Instrument [Line Items]
Par value of Prospector bonds outstanding		270,000,000
Line of Credit \| Acquired Senior Credit Facility \| Prospector Offshore Drilling S.A. \| Scenario, Forecast
Debt Instrument [Line Items]
Repayment of remaining balance				260,000,000
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Committed financing available	$634,000,000

Organization_and_Basis_of_Pres5

Organization and Basis of Presentation - Separation from Noble (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Aug. 01, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Aug. 01, 2014
Current assets
Cash and cash equivalents	$56,772	$36,581	$70,538	$75,767
Accounts receivable	539,376	356,241
Prepaid and other current assets	104,644	51,182
Total current assets	713,294	444,004
Property and equipment, at cost	4,842,112	6,067,066
Accumulated depreciation	-2,431,752	-2,607,382
Property and equipment, net	2,410,360	3,459,684
Other assets	129,735	79,111
Total assets	3,253,389	3,982,799
Current liabilities
Current maturities of long-term debt	272,166	0
Accounts payable	160,874	124,442
Accrued payroll and related costs	81,416	60,738
Taxes payable	69,033	0
Interest payable	33,658	412
Other current liabilities	105,147	40,962
Total current liabilities	722,294	226,554
Long-term debt	1,888,439	1,561,141
Deferred income taxes	58,497	101,703
Other liabilities	89,910	88,068
Total liabilities	2,759,140	1,977,466
Equity
Ordinary shares	848	0
Additional paid-in capital	1,423,153	0
Accumulated other comprehensive loss	-37,144	-6
Total shareholders' equity	491,608	2,005,333
Total liabilities and equity	3,253,389	3,982,799
Predecessor
Current assets
Cash and cash equivalents					104,152
Accounts receivable					377,324
Prepaid and other current assets					126,264
Total current assets					607,740
Property and equipment, at cost					5,615,161
Accumulated depreciation					-2,640,273
Property and equipment, net					2,974,888
Other assets					102,419
Total assets					3,685,047
Current liabilities
Current maturities of long-term debt					4,875
Accounts payable					129,952
Accrued payroll and related costs					67,256
Taxes payable					53,384
Interest payable					3,770
Other current liabilities					117,887
Total current liabilities					377,124
Long-term debt					1,725,125
Deferred income taxes					79,659
Other liabilities					115,621
Total liabilities					2,297,529
Equity
Ordinary shares					848
Additional paid-in capital					1,417,119
Accumulated other comprehensive loss					-30,449
Total shareholders' equity					1,387,518
Total liabilities and equity					$3,685,047

Summary_of_Significant_Account2

Summary of Significant Accounting Policies - Property and Equipment, at Cost (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Capital accruals included in accounts payable	$24,000,000	$29,000,000
Overhauls and asset replacement projects costs	2,410,360,000	3,459,684,000
Drilling Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life or property, plant and equipment	3 years
Drilling Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life or property, plant and equipment	30 years
Other Capitalized Property Plant and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life or property, plant and equipment	2 years
Other Capitalized Property Plant and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life or property, plant and equipment	25 years
Overhauls and Asset Replacement Projects
Property, Plant and Equipment [Line Items]
Overhauls and asset replacement projects costs	193,000,000	211,000,000
Depreciation expense related to overhauls and asset replacement	$85,000,000	$76,000,000	$66,000,000
Overhauls and Asset Replacement Projects \| Minimum
Property, Plant and Equipment [Line Items]
Useful life or property, plant and equipment	3 years
Overhauls and Asset Replacement Projects \| Maximum
Property, Plant and Equipment [Line Items]
Useful life or property, plant and equipment	5 years

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Revenue Recognition (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Prepaid and Other Current Assets and Noncurrent Other Assets
Revenue Recognition, Milestone Method [Line Items]
Deferred expenses under drilling contracts	$2	$24
Other Current Liabilities and Other Noncurrent Liabilities
Revenue Recognition, Milestone Method [Line Items]
Deferred revenue under drilling contracts	$9	$22

Acquisition_Additional_Informa

Acquisition - Additional Information (Details) (Prospector Offshore Drilling S.A., USD $)	0 Months Ended	1 Months Ended		12 Months Ended	3 Months Ended
Share data in Millions, unless otherwise specified	Nov. 17, 2014	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2014	Feb. 23, 2015	Jan. 22, 2015
	rig	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2014	Feb. 23, 2015	Jan. 22, 2015
Business Acquisition [Line Items]
Initial Prospector shares acquired (in shares)	89.3
Ownership percentage of outstanding shares following acquisition	94.40%
Cash consideration paid	$190,000,000	$10,000,000
Additional Prospector shares acquired (in shares)		4.1	4.1	4.1
Prospector shares owned (in shares)		93.4
Ownership percentage following additional purchase of shares		98.70%	98.70%	98.70%
Number of jackups owned and operated by Prospector	2
Number of jackups under construction	3
Weighted average life of contracts				2 years 6 months
Goodwill	13,290,000
Revenues from the Prospector rigs since acquisition date			8,000,000
Operating expenses since acquisition date			8,000,000
Subsequent Event
Business Acquisition [Line Items]
Cash consideration paid					202,000,000
Ownership percentage following additional purchase of shares					100.00%	99.60%
Contract Drilling Services
Business Acquisition [Line Items]
Acquisition costs				4,000,000

Acquisition_Allocation_of_Purc

Acquisition - Allocation of Purchase Price to the Estimated Fair Values of the Assets Acquired and Liabilities Assumed (Details) (USD $)	12 Months Ended			0 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 17, 2014
Current liabilities
Purchase price, net of cash acquired	$176,569	$0	$0
Prospector Offshore Drilling S.A.
Current assets
Accounts receivable				26,169
Restricted cash				5,023
Prepaid and other current assets				17,967
Total current assets				49,159
Property and equipment				516,979
Goodwill				13,290
Other assets				25,520
Total assets acquired				604,948
Current liabilities
Current maturities of long-term debt				32,970
Accounts payable				16,227
Accrued payroll and related costs				3,754
Taxes payable				4,378
Interest payable				6,466
Other current liabilities				19,120
Total current liabilities				82,915
Long-term debt				333,697
Other liabilities				456
Total liabilities assumed				417,068
Accumulated other comprehensive loss				-40
Non-controlling interest				11,351
Purchase price, net of cash acquired				$176,569

Acquisition_Unaudited_Pro_Form

Acquisition - Unaudited Pro Forma Financial Information (Details) (Prospector Offshore Drilling S.A., USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Prospector Offshore Drilling S.A.
Business Acquisition, Pro Forma Information [Abstract]
Total operating revenues	$42,456	$4,200
Net Loss	-55,802	-16,050
Net Loss to Paragon Offshore	($55,054)	($15,835)
Earnings per share (basic) (in dollars per share)	($0.65)	($0.19)
Earnings per share (diluted) (in dollars per share)	($0.65)	($0.19)

EarningsLoss_Per_Share_Additio

Earnings/Loss Per Share - Additional Information (Details)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Earnings Per Share [Abstract]
Distribution by former parent (in shares)	84,753

EarningsLoss_Per_Share_Computa

Earnings/Loss Per Share - Computation of Basic and Diluted Net Income Per Share (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Allocation of income - basic and diluted
Net income (loss) attributable to Paragon	$2,803	($869,160)	$95,045	$124,566	$37,555	$157,635	$82,544	$82,572	($646,746)	$360,305	$126,237
Earnings allocated to unvested share-based payment awards, basic									0	0	0
Earnings allocated to unvested share-based payment awards, diluted									0	0	0
Net income to ordinary shareholders - basic									-646,746	360,305	126,237
Net income to ordinary shareholders - diluted									($646,746)	$360,305	$126,237
Weighted-average shares outstanding
Basic and diluted (in shares)									84,753	84,753	84,753
Earnings (loss) per share
Basic and diluted (usd per share)	$0.03	($10.26)	$1.12	$1.47	$0.44	$1.86	$0.97	$0.97	($7.63)	$4.25	$1.49

ShareBased_Compensation_Additi

Share-Based Compensation - Additional Information (Details) (USD $)	0 Months Ended	5 Months Ended	12 Months Ended
In Millions, except Share data, unless otherwise specified	Aug. 01, 2014	Dec. 31, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation costs			$7.70
Time-Vested Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units awarded (maximum available)	2,675,839	3,894,601
Vesting period			3 years
Share-based amortization recognized		26	26
RSU weighted-average period of recognition			1 year 9 months 18 days
Performance-Vested Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units awarded (maximum available)	277,118	277,118
Share-based amortization recognized		$1	$1
RSU weighted-average period of recognition			1 year 8 months 12 days
Employee Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum limit of shares authorized	8,475,340
Percentage of shares outstanding authorized for stock options	10.00%
Director Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum limit of shares authorized	500,000
Predecessor \| Performance-Vested Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noble performance-vested restricted stock performance cycle			36 months
Predecessor \| Noble's 1991 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		0	0
Maximum \| Predecessor \| Noble's 1991 Plan \| Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term to exercise stock options			5 years

ShareBased_Compensation_Shares

Share-Based Compensation - Shares Available for Issuance and Outstanding Restricted Stock Units (Details)	12 Months Ended
	Dec. 31, 2014
	incentive_plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock incentive plans	2
Director Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future awards or grants	240,258,000
Employee Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future awards or grants	4,719,570,000
Restricted Stock Units (RSUs) \| Director Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding unvested restricted stock units	259,742,000
Restricted Stock Units (RSUs) \| Employee Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding unvested restricted stock units	3,755,770,000

ShareBased_Compensation_Restri

Share-Based Compensation - Restricted Stock Activity (Details) (USD $)	0 Months Ended	5 Months Ended	12 Months Ended
	Aug. 01, 2014	Dec. 31, 2014	Dec. 31, 2014
Time-Vested Restricted Shares
RSU's Outstanding
Outstanding at August 1, 2014	0	0
Awarded	2,675,839	3,894,601
Vested		0
Forfeited		-140,835
Outstanding at December 31, 2014		3,753,766	3,753,766
Weighted Average Award-Date Fair Value
Outstanding at August 1, 2014	$0	$0
Awarded		$10.54
Vested		$0
Forfeited		$10.70
Outstanding at December 31, 2014		$10.54	$10.54
Performance-Vested Restricted Shares
RSU's Outstanding
Outstanding at August 1, 2014	0	0
Awarded	277,118	277,118
Vested		0
Forfeited		-15,372
Outstanding at December 31, 2014		261,746	261,746
Weighted Average Award-Date Fair Value
Outstanding at August 1, 2014	$0	$0
Awarded		$11
Vested		$0
Forfeited		$11
Outstanding at December 31, 2014		$11	$11
Minimum number of performance vested shares			0
Target level of performance			50.00%

Property_and_Equipment_Details

Property and Equipment (Details) (USD $)	6 Months Ended	12 Months Ended			3 Months Ended
Property and Equipment (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Capital expenditures		$261,641,000	$366,361,000	$532,404,000
Interest expense capitalized		3,000,000
Loss on Impairment
Tangible Asset Impairment Charges	1,100,000,000	1,059,487,000	43,688,000	0
Gain on Disposal of Assets, net
Sale of the Noble Lewis Dugger		6,570,000	61,000,000	0
Gain on sale of assets		0	35,646,000	0
Predecessor
Property, Plant and Equipment [Line Items]
Capital expenditures			366,000,000
Interest expense capitalized			6,000,000
Gain on Disposal of Assets, net
Sale of the Noble Lewis Dugger					61,000,000
Gain on sale of assets					36,000,000
Drilling Rigs
Loss on Impairment
Tangible Asset Impairment Charges		1,100,000,000				130,000,000
Floating Production Storage and Offloading \| Predecessor
Loss on Impairment
Tangible Asset Impairment Charges			40,000,000
Submersible Rigs \| Predecessor
Loss on Impairment
Number of rigs with impairment charges			2
Tangible Asset Impairment Charges			$4,000,000

Debt_Summary_of_LongTerm_Debt_

Debt - Summary of Long-Term Debt (Details) (USD $)	Dec. 31, 2014	Jul. 18, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Jul. 18, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Less: Current maturities of long-term debt	($272,166)		$0
Long-term debt	1,888,439		1,561,141
Senior Notes \| 6.75% Senior Notes due July 15, 2022
Debt Instrument [Line Items]
Long-term debt	457,572		0
Stated interest rate	6.75%	6.75%
Senior Notes \| 7.25% Senior Notes due August 15, 2024
Debt Instrument [Line Items]
Long-term debt	537,010		0
Stated interest rate	7.25%	7.25%
Secured Debt \| Term Loan Facility, bearing interest at 3.75%, net of unamortized discount
Debt Instrument [Line Items]
Long-term debt	645,357		0
Term loan facility effective interest rate	3.75%
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	154,000		0
Line of Credit \| 2018 Senior Secured Credit Facility
Debt Instrument [Line Items]
Long-term debt	265,666		0
Line of Credit \| Noble Credit Facilities / Commercial Paper Program
Debt Instrument [Line Items]
Long-term debt	0		1,561,141
Callable Bond \| 2019 Second Lien Callable Bond
Debt Instrument [Line Items]
Long-term debt	$101,000		$0

Debt_Additional_Information_De

Debt - Additional Information (Details) (USD $)	0 Months Ended	12 Months Ended			0 Months Ended	1 Months Ended	0 Months Ended
	Jul. 18, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 17, 2014	Jan. 31, 2015	Jun. 17, 2014	Mar. 12, 2015	19-May-14
	rig	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 17, 2014	Jan. 31, 2015	Jun. 17, 2014	Mar. 12, 2015	19-May-14
Debt Instrument [Line Items]
Aggregate letters of credit issued		$21,000,000
Number of rigs not used to secure debt	3
Debt issuance cost		35,000,000
Recognized gain on debt retirement as a result of repurchase		18,675,000	0	0
Prospector Offshore Drilling S.A. \| Interest Rate Swap
Debt Instrument [Line Items]
Fixed interest rate		1.51%
Predecessor
Debt Instrument [Line Items]
Repayments of intercompany indebtedness		1,700,000,000
Senior Notes
Debt Instrument [Line Items]
Par value of Prospector bonds outstanding	1,080,000,000
Principal amount of repurchased and cancelled Senior Notes		85,000,000
Repurchase of Senior Notes		67,000,000
Recognized gain on debt retirement as a result of repurchase		19,000,000
Senior Notes \| Subsequent Event
Debt Instrument [Line Items]
Principal amount of repurchased and cancelled Senior Notes								11,000,000
Repurchase of Senior Notes								7,000,000
Senior Notes \| 6.75% Senior Notes due July 15, 2022
Debt Instrument [Line Items]
Par value of Prospector bonds outstanding	500,000,000
Stated interest rate	6.75%	6.75%
Principal amount of repurchased and cancelled Senior Notes		42,000,000
Debt outstanding		457,572,000	0
Senior Notes \| 6.75% Senior Notes due July 15, 2022 \| Subsequent Event
Debt Instrument [Line Items]
Stated interest rate								6.75%
Principal amount of repurchased and cancelled Senior Notes								1,000,000
Senior Notes \| 7.25% Senior Notes due August 15, 2024
Debt Instrument [Line Items]
Par value of Prospector bonds outstanding	580,000,000
Stated interest rate	7.25%	7.25%
Principal amount of repurchased and cancelled Senior Notes		43,000,000
Debt outstanding		537,010,000	0
Senior Notes \| 7.25% Senior Notes due August 15, 2024 \| Subsequent Event
Debt Instrument [Line Items]
Stated interest rate								7.25%
Principal amount of repurchased and cancelled Senior Notes								10,000,000
Secured Debt \| Term Loan Facility, bearing interest at 3.75%, net of unamortized discount
Debt Instrument [Line Items]
Term loan facility effective interest rate		3.75%
Par value of Prospector bonds outstanding	650,000,000
Quarterly debt principal payments	1,600,000
Original issue discount	0.50%
Debt outstanding		645,357,000	0
Secured Debt \| Term Loan Facility, bearing interest at 3.75%, net of unamortized discount \| LIBOR
Debt Instrument [Line Items]
Reference rate margin	2.75%
Minimum LIBOR rate	1.00%
Secured Debt \| Term Loan Facility, bearing interest at 3.75%, net of unamortized discount \| Base Rate
Debt Instrument [Line Items]
Reference rate margin	1.75%
Callable Bond \| Acquired Bonds
Debt Instrument [Line Items]
Debt outstanding		101,000,000	0
Callable Bond \| Acquired Bonds \| Prospector Offshore Drilling S.A.
Debt Instrument [Line Items]
Par value of Prospector bonds outstanding					100,000,000
Stated interest rate									7.75%
Bondholders' put price percentage, par value of bonds back to Prospector					101.00%
Debt outstanding		101,000,000
Callable Bond \| Acquired Bonds \| Subsequent Event \| Prospector Offshore Drilling S.A.
Debt Instrument [Line Items]
Par value of Prospector bonds outstanding								400,000
Par value of bonds back to Prospector						99,600,000
Percentage of principal amount redeemed						101.00%
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum amount available under credit facility							800,000,000
Revolving credit facility maturity period							5 years
Outstanding revolving credit facility		154,000,000
Weighted-average interest rate		2.89%
Aggregate letters of credit issued		12,000,000
Actual net leverage ratio		2
Actual interest coverage ratio		8.3
Debt outstanding		154,000,000	0
Line of Credit \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Interest coverage ratio requirement		3
Line of Credit \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Net leverage ratio requirement		4
Line of Credit \| Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Reference rate margin							1.50%
Line of Credit \| Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Reference rate margin							2.50%
Line of Credit \| Letter of Credit
Debt Instrument [Line Items]
Maximum amount available under credit facility							800,000,000
Line of Credit \| Noble Credit Facilities / Commercial Paper Program
Debt Instrument [Line Items]
Debt outstanding		0	1,561,141,000
Line of Credit \| Noble Credit Facilities / Commercial Paper Program \| Predecessor
Debt Instrument [Line Items]
Number of credit facilities		3
Maximum amount available under credit facility		2,900,000,000
Line of Credit \| Noble Credit Facilities / Commercial Paper Program \| Commercial Paper \| Predecessor
Debt Instrument [Line Items]
Maximum amount available under credit facility		2,700,000,000
Line of Credit \| 2018 Senior Secured Credit Facility
Debt Instrument [Line Items]
Debt outstanding		265,666,000	0
Line of Credit \| 2018 Senior Secured Credit Facility \| Prospector Offshore Drilling S.A.
Debt Instrument [Line Items]
Par value of Prospector bonds outstanding					270,000,000
Line of Credit \| 2018 Senior Secured Credit Facility \| Prospector Offshore Drilling S.A. \| Interest Rate Swap
Debt Instrument [Line Items]
Outstanding borrowings		133,000,000
Line of Credit \| 2018 Senior Secured Credit Facility \| Minimum \| Prospector Offshore Drilling S.A.
Debt Instrument [Line Items]
Minimum percentage of debt required to hedge		50.00%
Line of Credit \| 2018 Senior Secured Credit Facility \| LIBOR \| Prospector Offshore Drilling S.A.
Debt Instrument [Line Items]
Margin percentage in addition to LIBOR		3.50%
Line of Credit \| Acquired Senior Credit Facility, Prospector 5 Tranche [Member] \| Prospector Offshore Drilling S.A.
Debt Instrument [Line Items]
Maximum amount available under credit facility		140,000,000
Debt outstanding		140,000,000
Line of Credit \| Acquired Senior Credit Facility, Prospector 1 Tranche [Member] \| Prospector Offshore Drilling S.A.
Debt Instrument [Line Items]
Maximum amount available under credit facility		130,000,000
Debt outstanding		$126,000,000

Debt_Estimated_Fair_Value_of_L

Debt - Estimated Fair Value of Long-Term Debt (Details) (USD $)	Dec. 31, 2014	Jul. 18, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014	Jul. 18, 2014
Senior Notes \| 6.75% Senior Notes due July 15, 2022
Debt Instrument [Line Items]
Stated interest rate	6.75%	6.75%
Senior Notes \| 7.25% Senior Notes due August 15, 2024
Debt Instrument [Line Items]
Stated interest rate	7.25%	7.25%
Secured Debt \| Term Loan Facility, bearing interest at 3.75%, net of unamortized discount
Debt Instrument [Line Items]
Term loan facility effective interest rate	3.75%
Carrying Amount \| Senior Notes
Debt Instrument [Line Items]
Debt fair value	994,582
Carrying Amount \| Senior Notes \| 6.75% Senior Notes due July 15, 2022
Debt Instrument [Line Items]
Debt fair value	457,572
Carrying Amount \| Senior Notes \| 7.25% Senior Notes due August 15, 2024
Debt Instrument [Line Items]
Debt fair value	537,010
Carrying Amount \| Secured Debt \| Term Loan Facility, bearing interest at 3.75%, net of unamortized discount
Debt Instrument [Line Items]
Debt fair value	645,357
Carrying Amount \| Callable Bond \| 2019 Second Lien Callable Bond
Debt Instrument [Line Items]
Debt fair value	101,000
Estimated Fair Value [Member] \| Senior Notes
Debt Instrument [Line Items]
Debt fair value	594,636
Estimated Fair Value [Member] \| Senior Notes \| 6.75% Senior Notes due July 15, 2022
Debt Instrument [Line Items]
Debt fair value	275,115
Estimated Fair Value [Member] \| Senior Notes \| 7.25% Senior Notes due August 15, 2024
Debt Instrument [Line Items]
Debt fair value	319,521
Estimated Fair Value [Member] \| Secured Debt \| Term Loan Facility, bearing interest at 3.75%, net of unamortized discount
Debt Instrument [Line Items]
Debt fair value	523,250
Estimated Fair Value [Member] \| Callable Bond \| 2019 Second Lien Callable Bond
Debt Instrument [Line Items]
Debt fair value	101,000

Gain_on_Contract_SettlementsEx1

Gain on Contract Settlements/Extinguishment, Net - Additional Information (Details) (USD $)	3 Months Ended			12 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012	Jun. 30, 2012	Dec. 31, 2013
Noble Corporation PLC
Gain Contingencies [Line Items]
Gain related to settlement	$45
Predecessor
Gain Contingencies [Line Items]
Gain related to settlement			5	23
Gain on contract termination		$2

Income_Taxes_Income_Before_Tax

Income Taxes - Income Before Taxes (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
United States	$70,949	$114,314	$65,574
Non-U.S.	-648,360	331,596	109,351
Income (loss) before income taxes	($577,411)	$445,910	$174,925

Income_Taxes_Income_Tax_Provis

Income Taxes - Income Tax Provision (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Current - United States		$45,754	$20,732	$14,637
Current - Non-U.S.		43,115	55,691	49,108
Deferred - United States		-30,391	13,425	-13,179
Deferred - Non-U.S.		10,916	-4,243	-1,878
Total	$50,600	$69,394	$85,605	$48,688

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Details) (USD $)	6 Months Ended	12 Months Ended
Income Taxes - Additional Information (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes [Line Items]
Effective tax rate		-12.00%	19.20%	27.80%
Pre-tax loss		($577,411,000)	$445,910,000	$174,925,000
Loss on impairment	1,100,000,000	1,059,487,000	43,688,000	0
Deferred tax assets	26,201,000	26,201,000	43,409,000
Deferred tax asset valuation allowance	0	0	8,672,000
Interest and penalties resulting in income tax expense		2,000,000	1,000,000	4,000,000
Reserve for uncertain tax positions, excluding interest and penalties	40,196,000	40,196,000	36,490,000
Unrecognized tax benefits that would impact effective tax rate	40,000,000	40,000,000
Her Majesty's Revenue and Customs (HMRC)
Income Taxes [Line Items]
Statutory tax rate for the United Kingdom		21.00%
Mexican Tax Authority \| Mexico
Income Taxes [Line Items]
Net operating loss carryforward with expiration	$13,000,000	$13,000,000

Income_Taxes_Reconciliation_of

Income Taxes - Reconciliation of Statutory and Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Effect of:
Tax rates which are different than the U.K. and Swiss rates	-15.30%	17.40%	28.00%
Tax effect from asset impairment	4.30%	0.00%	0.00%
Change in valuation allowance	0.00%	2.00%	0.00%
Reserve for (resolution of) tax authority audits	-1.00%	-0.20%	-0.20%
Total	-12.00%	19.20%	27.80%

Income_Taxes_Components_of_Net

Income Taxes - Components of Net Deferred Taxes (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Deferred tax assets
Accrued expenses not currently deductible	$3,556	$0
Net operating loss carry forwards	22,645	43,409
Deferred tax assets	26,201	43,409
Less: Valuation allowance	0	-8,672
Net deferred tax assets	26,201	34,737
Deferred tax liabilities
Excess of net book basis over remaining tax basis of Property and equipment	-58,844	-122,581
Deferred taxes on unremitted earnings	-6,043	0
Contract market valuation	-5,434	0
Other	-838	0
Deferred tax liabilities	-71,159	-122,581
Net deferred tax liabilities	($44,958)	($87,844)

Income_Taxes_Reconciliation_of1

Income Taxes - Reconciliation of Reserve for Uncertain Tax Positions (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross balance at January 1,	$32,336	$37,969	$44,188
Additions based on tax positions related to the current year	4,442	532	536
Additions for tax positions of prior years	1,424	4,599	2,430
Reductions for tax positions of prior years	-7,298	-214	0
Expiration of statutes	-1,225	-2,712	-3,130
Tax settlements	0	-7,838	-6,055
Gross balance at December 31,	29,679	32,336	37,969
Related tax benefits	0	-1,983	-6,590
Net balance at December 31,	$29,679	$30,353	$31,379

Income_Taxes_Liabilities_Relat

Income Taxes - Liabilities Related to Unrecognized Tax Benefits (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Unrecognized tax benefits, excluding interest and penalties	$29,679	$30,353	$31,379
Interest and penalties included in Other liabilities	10,517	6,137
Unrecognized tax benefits, including interest and penalties	$40,196	$36,490

Employee_Benefit_Plans_Additio

Employee Benefit Plans - Additional Information (Details) (USD $)	5 Months Ended	12 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Aug. 01, 2014
	Dec. 31, 2014	Dec. 31, 2014	pension_plan
Defined Benefit Plan Disclosure [Line Items]
Pension expense		$6,000,000
Other postretirement benefit expense	2,000,000
Non-U.S. Defined Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Estimated amortization related to prior service cost (less than)		1,000,000
Estimated amortization related to actuarial loss (less than)		1,000,000
Employer contributions to non-U.S. pension plans		6,565,000
Non-U.S. Defined Benefit Plan \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected contributions next fiscal year		$5,000,000
Non-U.S. Defined Benefit Plan \| Predecessor
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit pension plans at spin-off			2
Non-U.S. Defined Benefit Plan \| Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan target asset allocation (as a percent)		100.00%

Employee_Benefit_Plans_Reconci

Employee Benefit Plans - Reconciliation of Changes in Projected Benefit Obligations for Non-US Plan (Details) (Non-U.S. Defined Benefit Plan, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Non-U.S. Defined Benefit Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$95,101
Service cost	4,819
Interest cost	2,601
Actuarial loss (gain)	39,499
Amendments	-139
Benefits paid	-1,240
Plan participants' contribution	512
Foreign exchange rate changes	-14,806
Other: curtailment	-1,985
Benefit obligation at end of year	$124,362

Employee_Benefit_Plans_Reconci1

Employee Benefit Plans - Reconciliation of the Changes in Fair Value of Plan Assets (Details) (Non-U.S. Defined Benefit Plan, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Non-U.S. Defined Benefit Plan
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$97,453
Actual return on plan assets	38,252
Employer contribution	6,565
Benefits paid	-833
Plan participants' contribution	512
Expenses paid	-407
Foreign exchange rate changes	-15,951
Fair value of plan assets at end of year	$125,591

Employee_Benefit_Plans_Funded_

Employee Benefit Plans - Funded Status of the Plans (Details) (Non-U.S. Defined Benefit Plan, USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Non-U.S. Defined Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Funded status	$1,229

Employee_Benefit_Plans_Amounts

Employee Benefit Plans - Amounts Recognized in the Consolidated Balance Sheets (Details) (Non-U.S. Defined Benefit Plan, USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Non-U.S. Defined Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Other assets (noncurrent)	$1,229
Accumulated other comprehensive loss recognized in financial statements	22,911
Net amount recognized	$24,140

Employee_Benefit_Plans_Amounts1

Employee Benefit Plans - Amounts Recognized in Other Comprehensive Loss (Details) (Non-U.S. Defined Benefit Plan, USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Non-U.S. Defined Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actuarial loss (gain)	$20,539
Prior service cost (credit)	2,063
Deferred income tax	309
Accumulated other comprehensive loss	$22,911

Employee_Benefit_Plans_Pension

Employee Benefit Plans - Pension Costs (Details) (Non-U.S. Defined Benefit Plan, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Non-U.S. Defined Benefit Plan
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$4,819
Interest cost	2,601
Return on plan assets	-2,625
Amortization of Prior Service Cost	-16
Amortization of transition obligation	0
Amortization net actuarial loss (gain)	1,077
Net curtailment (gain)	-66
Net Pension Expense	$5,790

Employee_Benefit_Plans_Disaggr

Employee Benefit Plans - Disaggregated Plan Information (Details) (Non-U.S. Defined Benefit Plan, USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Non-U.S. Defined Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Projected benefit obligation	$124,362	$95,101
Accumulated benefit obligation	119,632
Fair value of plan assets	$125,591	$97,453

Employee_Benefit_Plans_Key_Pla

Employee Benefit Plans - Key Plan Assumptions (Details) (Non-U.S. Defined Benefit Plan)	12 Months Ended
	Dec. 31, 2014
Weighted Average Assumptions Used to Determine Benefit Obligations
Rate of compensation increase	3.60%
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost
Rate of compensation increase	3.60%
Minimum
Weighted Average Assumptions Used to Determine Benefit Obligations
Discount rate	2.30%
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate	2.70%
Expected long-term return on plan assets	2.70%
Maximum
Weighted Average Assumptions Used to Determine Benefit Obligations
Discount rate	2.40%
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost
Discount rate	3.90%
Expected long-term return on plan assets	2.80%

Employee_Benefit_Plans_Fair_Va

Employee Benefit Plans - Fair Value of Pension Plans (Details) (Non-U.S. Defined Benefit Plan, USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$125,591	$97,453
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	32,477
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	93,115	68,280
Corporate Bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	32,476
Corporate Bonds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Corporate Bonds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	32,477
Corporate Bonds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	93,115
Other \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Other \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0
Other \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$93,115

Employee_Benefit_Plans_Defined

Employee Benefit Plans - Defined Benefit Plan Assets, Level 3 Reconciliation (Details) (Non-U.S. Defined Benefit Plan, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] [Abstract]
Fair value of plan assets at beginning of year	$97,453
Return on plan assets	38,252
Fair value of plan assets at end of year	125,591
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] [Abstract]
Fair value of plan assets at beginning of year	68,280
Assets sold/benefits paid	-735
Return on plan assets	25,570
Fair value of plan assets at end of year	$93,115

Employee_Benefit_Plans_Future_

Employee Benefit Plans - Future Estimated Benefit Payments (Details) (Non-U.S. Defined Benefit Plan, USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Non-U.S. Defined Benefit Plan
Estimated benefit payments
Total	$18,490
2015	868
2016	993
2017	1,168
2018	1,390
2019	1,618
Five Years Thereafter	$12,453

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activities (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Jun. 13, 2014	Dec. 31, 2013
2018 Senior Secured Credit Facility \| Line of Credit \| Prospector Offshore Drilling S.A.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Minimum percentage of debt required to hedge	50.00%
Interest Rate Swap \| Prospector Offshore Drilling S.A.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Outstanding derivative contracts		$135,000,000
Fixed interest rate	1.51%
Interest Rate Swap \| Prospector Offshore Drilling S.A. \| Other current liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swaps recorded in other current liabilities	2,000,000
Interest Rate Swap \| Prospector Offshore Drilling S.A. \| Other noncurrent assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swaps recorded in other long-term assets	1,000,000
Interest Rate Swap \| 2018 Senior Secured Credit Facility \| Line of Credit \| Prospector Offshore Drilling S.A.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Long-term debt	133,000,000
Interest Expense \| Interest Rate Swap \| Prospector Offshore Drilling S.A.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate swaps recorded in interest expense net of amount capitalized	78,000
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Outstanding derivative contracts			0
Unrealized gains (losses) related to forward contracts recorded in AOCI			0
Cash Flow Hedging \| Foreign Exchange Forward
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Forward contracts entered and settled	58,000,000
Outstanding derivative contracts	0
Unrealized gains (losses) related to forward contracts recorded in AOCI	0
Gain (loss) recognized in income statement as a result of ineffectiveness	0
Cash Flow Hedging \| Contract Drilling Services \| Foreign Exchange Forward
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) on derivative contracts reclassified from OCI	14,000
Cash Flow Hedging \| Gain (Loss) on Derivative Instruments \| Foreign Exchange Forward
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) recognized in income statement as a result of excluding amounts from hedge assessment	$0

Concentration_of_Market_and_Cr2

Concentration of Market and Credit Risk - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Carrying Amount
Assets
Interest rate swaps	$531
Liabilities
Interest rate swaps	1,530
Level 1
Assets
Interest rate swaps	0
Liabilities
Interest rate swaps	0
Level 2
Assets
Interest rate swaps	531
Liabilities
Interest rate swaps	1,530
Level 3
Assets
Interest rate swaps	0
Liabilities
Interest rate swaps	$0

Concentration_of_Market_and_Cr3

Concentration of Market and Credit Risk - Additional Information (Details) (Customer Concentration Risk [Member], Operating Revenue [Member])	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
PetrC3leos Mexicanos
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of operating revenues contributed by major customers	16.00%	19.00%	21.00%
Petrobras [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of operating revenues contributed by major customers	23.00%	17.00%	18.00%

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss - Components of and Changes in Accumulated Other Comprehensive Loss (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at December 31, 2013	($6)
Activity during period:
AOCL recorded in connection with Spin-Off	-30,449
AOCL recorded in connection with Prospector acquisition	-40
Other comprehensive loss before reclassification	-5,522
Amounts reclassified from AOCL	-1,127
Total other comprehensive income (loss), net	-6,649	179	1,743
Balance at December 31, 2014	-37,144	-6
Gains / (Losses on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at December 31, 2013	0
Activity during period:
AOCL recorded in connection with Spin-Off	4,027
AOCL recorded in connection with Prospector acquisition	0
Other comprehensive loss before reclassification	-4,041
Amounts reclassified from AOCL	14
Total other comprehensive income (loss), net	-4,027
Balance at December 31, 2014	0
Defined Benefit Pension Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at December 31, 2013	0
Activity during period:
AOCL recorded in connection with Spin-Off	-21,770
AOCL recorded in connection with Prospector acquisition	0
Other comprehensive loss before reclassification	0
Amounts reclassified from AOCL	-1,141
Total other comprehensive income (loss), net	-1,141
Balance at December 31, 2014	-22,911
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at December 31, 2013	-6
Activity during period:
AOCL recorded in connection with Spin-Off	-12,706
AOCL recorded in connection with Prospector acquisition	-40
Other comprehensive loss before reclassification	-1,481
Amounts reclassified from AOCL	0
Total other comprehensive income (loss), net	-1,481
Balance at December 31, 2014	($14,233)

Deferred_Revenue_and_Costs_Add

Deferred Revenue and Costs - Additional Information (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Other Current Liabilities and Other Noncurrent Liabilities
Deferred Revenue Arrangement [Line Items]
Deferred Revenue	$9	$22
Prepaid and Other Current Assets and Noncurrent Other Assets
Deferred Revenue Arrangement [Line Items]
Deferred expenses under drilling contracts	$2	$24

Commitments_and_Contingencies_1

Commitments and Contingencies - Future Minimum Lease Payments (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2015	$14,734,000
2016	10,871,000
2017	4,494,000
2018	2,596,000
2019	2,032,000
Thereafter	3,462,000
Operating lease rent expense	$16,000,000

Commitments_and_Contingencies_2

Commitments and Contingencies - Purchase Commitments (Details) (USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Purchase Obligation, Fiscal Year Maturity [Abstract]
2015	$454,098
2016	$199,161

Commitments_and_Contingencies_3

Commitments and Contingencies - Additional Information (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
	rig
Other Commitments [Line Items]
Shipyard and purchase commitments	653,000,000
Letters of credit, amount outstanding	21,000,000
Performance bonds	110,000,000
Noble Corporation PLC
Other Commitments [Line Items]
Due from Noble	33,261,000
Due to Noble	76,387,000
Tax Audit Claims Primarily in Mexico and Brazil \| Tax Audit Claims
Other Commitments [Line Items]
Taxes and other contingencies	267,000,000
Claims subject to indemnity by Noble	50,000,000
Tax Audit Claims Primarily in Mexico and Brazil \| Tax Audit Claims in Mexico Result of Spin-Off
Other Commitments [Line Items]
Taxes and other contingencies	37,000,000
PetrC3leos Mexicanos \| Withholding Taxes
Other Commitments [Line Items]
Taxes and other contingencies	106,000,000
Claims subject to indemnity by Noble	30,000,000
Noble Corporation PLC \| Brazil
Other Commitments [Line Items]
Number of Noble Rigs Operating in Brazil	1

Commitments_and_Contingencies_4

Commitments and Contingencies - Balance Sheet Position of Balances Due From and To Noble (Details) (Noble Corporation PLC, USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified	Dec. 31, 2014
Other Commitments [Line Items]
Due from Noble	$33,261
Due to Noble	76,387
Other current assets
Other Commitments [Line Items]
Other current assets	26,386
Other assets
Other Commitments [Line Items]
Other assets	6,875
Accounts payable
Other Commitments [Line Items]
Due to Noble, current	1,655
Other current liabilities
Other Commitments [Line Items]
Due to Noble, current	51,169
Other liabilities
Other Commitments [Line Items]
Other liabilities	$23,563

Related_Parties_Including_Rela1

Related Parties (Including Relationship with Parent and Corporate Allocations) - Additional Information (Details) (Noble Corporation PLC, USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]
General and administrative	$25	$58	$53
Contract Drilling Services
Related Party Transaction [Line Items]
Contract drilling services	$70	$147	$113

Segment_and_Related_Informatio2

Segment and Related Information (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	segment	Dec. 31, 2013	Dec. 31, 2012
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$494,993	$505,222	$478,957	$514,590	$484,305	$489,682	$464,945	$454,070	$1,993,762	$1,893,002	$1,541,857
Identifiable Assets	3,253,389				3,982,799				3,253,389	3,982,799
Number of reportable segments									1
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									326,352	367,732	320,436
Identifiable Assets	472,032				351,123				472,032	351,123
Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									488,884	312,287	284,061
Identifiable Assets	1,863,774				1,864,358				1,863,774	1,864,358
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									193,908	245,789	141,435
Identifiable Assets	90,410				196,479				90,410	196,479
The Netherlands
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									284,651	179,768	210,577
Identifiable Assets	169,088				112,561				169,088	112,561
Qatar
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									94,320	139,891	74,889
Identifiable Assets	96,702				130,515				96,702	130,515
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									85,060	117,951	105,469
Identifiable Assets	94,391				712,713				94,391	712,713
United Arab Emirates
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									139,318	108,256	79,940
Identifiable Assets	228,284				152,699				228,284	152,699
Nigeria
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									0	107,750	148,961
Identifiable Assets	11,308				54,539				11,308	54,539
India
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									79,201	103,282	58,355
Identifiable Assets	135,909				200,799				135,909	200,799
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									302,068	210,296	117,734
Identifiable Assets	$91,491				$207,013				$91,491	$207,013

Supplemental_Cash_Flow_Informa2

Supplemental Cash Flow Information - Effect of Changes in Other Assets and Liabilities on Cash Flows from Operating Activities (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplemental Cash Flow Elements [Abstract]
Accounts receivable	($178,108)	($34,582)	($116,714)
Other current assets	42,922	22,181	-2,941
Other assets	-33,637	16,451	39,484
Accounts payable	25,890	8,530	-12,485
Other current liabilities	14,273	18,645	4,562
Other liabilities	-29,514	-16,385	-4,920
Net effect of changes in other assets and liabilities	($158,174)	$14,840	($93,014)

Supplemental_Cash_Flow_Informa3

Supplemental Cash Flow Information - Additional Cash Flow Information (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash paid during the period for:
Interest, net of amounts capitalized	$21,109	$5,791	$3,856
U.S. and Non-U.S. income taxes	85,248	76,423	63,745
Non-cash activities:
Increase (decrease) in accounts payable and accrued liabilities related to capital expenditures	$1,230	($12,365)	($8,463)

Unaudited_Interim_Financial_Da2

Unaudited Interim Financial Data - Quarterly Financial Information (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating revenues	$494,993	$505,222	$478,957	$514,590	$484,305	$489,682	$464,945	$454,070	$1,993,762	$1,893,002	$1,541,857
Operating income (loss)	4,311	-796,421	119,972	147,461	57,761	187,240	106,143	102,601	-524,677	453,745	176,712
Net income (loss) attributable to Paragon	-2,803	869,160	-95,045	-124,566	-37,555	-157,635	-82,544	-82,572	646,746	-360,305	-126,237
Earnings per share - basic and diluted (usd per share)	$0.03	($10.26)	$1.12	$1.47	$0.44	$1.86	$0.97	$0.97	($7.63)	$4.25	$1.49
Income Tax Expense (Benefit)		50,600							69,394	85,605	48,688
Previously Reported
Net income (loss) attributable to Paragon		894,200
Income Tax Expense (Benefit)		75,700
Tax Benefit Related to Impairment of Asset \| Adjustment
Additional non-cash tax benefit per diluted share (in dollars per share)		$0.28
Income Tax Expense (Benefit)		($25,100)