{"id":128572,"date":"2018-02-23T08:45:50","date_gmt":"2018-02-23T06:45:50","guid":{"rendered":"https:\/\/maritimes.gr\/borr-drilling-takes-over-paragon-offshore-to-create-357-billion-modu-fleet\/"},"modified":"2018-02-23T08:45:50","modified_gmt":"2018-02-23T06:45:50","slug":"borr-drilling-takes-over-paragon-offshore-to-create-357-billion-modu-fleet","status":"publish","type":"post","link":"https:\/\/maritimes.gr\/en\/borr-drilling-takes-over-paragon-offshore-to-create-357-billion-modu-fleet\/","title":{"rendered":"Borr Drilling takes over Paragon Offshore to create $3.57 billion MODU fleet"},"content":{"rendered":"<p><img decoding=\"async\" class=\" size-full wp-image-128570\" src=\"https:\/\/maritimes.gr\/wp-content\/uploads\/2018\/02\/aa0d30b179f1565cb213adba84733a53.jpg\" alt=\"\" width=\"564\" height=\"423\" srcset=\"https:\/\/maritimes.gr\/wp-content\/uploads\/2018\/02\/aa0d30b179f1565cb213adba84733a53-200x150.jpg 200w, https:\/\/maritimes.gr\/wp-content\/uploads\/2018\/02\/aa0d30b179f1565cb213adba84733a53-300x225.jpg 300w, https:\/\/maritimes.gr\/wp-content\/uploads\/2018\/02\/aa0d30b179f1565cb213adba84733a53-400x300.jpg 400w, https:\/\/maritimes.gr\/wp-content\/uploads\/2018\/02\/aa0d30b179f1565cb213adba84733a53.jpg 564w\" sizes=\"(max-width: 564px) 100vw, 564px\" \/>Borr Drilling&#8217;s acquistion of Paragon Offshore will create a 3.57 billion USD MODU fleet.<\/p>\n<table class=\"devicewidth\" border=\"0\" width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td width=\"100\\%\">\n<table class=\"devicewidth\" border=\"0\" width=\"600\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"devicewidth\" valign=\"top\" bgcolor=\"transparent\" width=\"600\">\n<table width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"mcol1\" valign=\"top\">\n<table border=\"0\" width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td id=\"B1493808382307\" class=\"ao_FreeTextBlock\" valign=\"top\">\n<p>Paragon Offshore own 30 vessels worth 94.68 million USD, with an additional 2 vessel bare boat chartered in. The average age of their fleet is 38 years old.<\/p>\n<p>Borr Drilling previously owned 26 MODUs woth 3.47 billion USD, with an average age of 6 years old.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"100\\%\">\n<table class=\"devicewidth\" border=\"0\" width=\"600\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"devicewidth\" valign=\"top\" bgcolor=\"transparent\" width=\"600\">\n<table width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"mcol1\" valign=\"top\">\n<table border=\"0\" width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td id=\"B1497973131696\" class=\"ao_PictureStripBlock\" valign=\"top\"><a name=\"B1497973131696\"><\/a><\/p>\n<table border=\"0\" width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td>\n<table border=\"0\" width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\" align=\"center\">\n<tbody>\n<tr>\n<td align=\"center\"><a id=\"ct1_0\" href=\"https:\/\/info.vesselsvalue.com\/acton\/ct\/29264\/s-008b-1802\/Bct\/q-04d4\/l-sf-contact-0011:74d\/ct1_0\/1?sid=TV2\\%3AVUdsAq1Es\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" title=\"\" src=\"https:\/\/info.vesselsvalue.com\/cdnr\/200\/acton\/attachment\/29264\/f-0341\/2\/-\/-\/-\/-\/image.PNG\" alt=\"\" width=\"530\" height=\"407\" border=\"0\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"100\\%\">\n<table class=\"devicewidth\" border=\"0\" width=\"600\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"devicewidth\" valign=\"top\" bgcolor=\"transparent\" width=\"600\">\n<table width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"mcol1\" valign=\"top\">\n<table border=\"0\" width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td id=\"B1497973194293\" class=\"ao_FreeTextBlock\" valign=\"top\"><a name=\"B1497973194293\"><\/a><\/p>\n<p>Charlie Hockless, VesselsValue&#8217;s Head of Offshore, states:<\/p>\n<p>The acquisition of Paragon by Borr drilling was certainly unexpected. Borr made it clear during 2017 that they were aiming to become the premium Jack Up supplier, we did not expect them to start 2018 by purchasing a fleet of scrapping candidates.<\/p>\n<p>That said, the reported USD 204 mil backlog present on the Paragon fleet seems attractive, and the rigs will certainly have some residual scrap value. In my opinion though, the true value of the deal is what Paragon will bring Borr &ndash; an experienced drilling organisation which will cement Borr&rsquo;s market position going forward.&nbsp;&nbsp;<\/p>\n<div class=\"video-shortcode\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"vGKYynHG0d\"><p><a href=\"https:\/\/www.vesselsvalue.com\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Home&#8221; &#8212; VesselsValue\" src=\"https:\/\/www.vesselsvalue.com\/embed\/#?secret=fVFr3HUsPI#?secret=vGKYynHG0d\" data-secret=\"vGKYynHG0d\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/div>\n<\/p>\n<p>&nbsp;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"100\\%\">\n<table class=\"devicewidth\" border=\"0\" width=\"600\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"devicewidth\" valign=\"top\" bgcolor=\"transparent\" width=\"600\">\n<table width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"mcol1\" valign=\"top\">\n<table border=\"0\" width=\"100\\%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td id=\"B1497973285831\" class=\"ao_FreeTextBlock\" style=\"text-align: center;\" valign=\"top\"><a name=\"B1497973285831\"><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Borr Drilling&#8217;s acquistion of Paragon Offshore will create a 3.57 billion USD MODU fleet. Paragon  [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":128570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[273],"tags":[],"class_list":["post-128572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritimes-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Borr Drilling takes over Paragon Offshore to create $3.57 billion MODU fleet - Maritimes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/maritimes.gr\/en\/borr-drilling-takes-over-paragon-offshore-to-create-357-billion-modu-fleet\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Borr Drilling takes over Paragon Offshore to create $3.57 billion MODU fleet - Maritimes\" \/>\n<meta property=\"og:description\" content=\"Borr Drilling&#8217;s acquistion of Paragon Offshore will create a 3.57 billion USD MODU fleet. 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