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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 |
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FORM 8-K |
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934 |
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| Date of report (date of earliest event reported): May 6, 2015 |
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| Paragon Offshore plc |
| (Exact name of Registrant as specified in its charter) |
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| England and Wales | 001-36465 | 98-1146017 |
(State or other jurisdiction of incorporation or organization) | (Commission file number) | (I.R.S. employer
identification number) |
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3151 Briarpark Drive, Suite 700 Houston, Texas | 77042 |
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| Registrant’s telephone number, including area code: +44 20 330 2300 |
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| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |
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| o | | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| o | | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| o | | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| o | | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure.
Pemex Contract Update
A subsidiary of Paragon Offshore plc (the “Company”) has received written notices of termination from PEMEX - Exploración y Producción (“PEMEX”) of the drilling contracts on the Paragon L1113 and the Paragon B301 (“the “Contracts”). These Contracts have been terminated by PEMEX pursuant to PEMEX’s right to terminate the Contracts on 30 days’ notice. The effective termination dates for the Contracts is expected to be late May 2015. The Company continues to engage in discussions with PEMEX regarding the Company’s remaining drilling rigs operating in Mexico. The Company has not received notice of termination or cancellation on any other of the Company’s rigs operating in Mexico.
The information presented in this Item 7.01 to this Current Report on Form 8-K is being furnished in accordance with Rule 101(e)(1) under Regulation FD and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference.
Forward Looking Statements
Certain statements in this current report constitute “forward-looking statements” within the meaning of the U.S. federal securities laws. These statements reflect management’s current expectations regarding future events and speak only as of the date of this current report. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance and will not necessarily be accurate indications of whether or not, or the times at or by which, events will occur. Actual performance may differ materially from that expressed or implied in such statements. Although the forward-looking statements contained in this current report are based upon what are believed to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. These forward-looking statements are made as of the date of this current report and, except as expressly required by applicable law, the Company assumes no obligation to update or revise them to reflect new events or circumstances.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | Paragon Offshore plc |
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| Date: May 6, 2015 | By: | | /s/ Steven A. Manz |
| | Name: | | Steven A. Manz |
| | Title: | | Senior Vice President and Chief Financial Officer |
