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Paragon Offshore posts $4.31 million of operating income for January
By Caroline Salls
Pittsburgh, Feb. 28 – Paragon Offshore plc reported $4.31 million of operating income for January on $4.06 million in operating revenue, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
In comparison, Paragon posted a $1.81 million operating loss for December on $4.94 million in operating revenue.
The net loss for January was $1.62 million, narrowing from an $8.43 million December net loss.
The company had $344.48 million in cash and cash equivalents as of Jan. 31, up from $344.38 million at the end of December.
Paragon, a Houston-based provider of offshore drilling rigs, filed for bankruptcy on Feb. 14, 2016. The Chapter 11 case number is 16-10386.
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