To read the complete fleet status report of March 10, 2017, click here.

1. Class: Jackups

Year

Built

Spec.

Feet/K feet

Contract

End

Current

Day rate

Location

Rate at 0 revenue

1982/2006

mid 7/17

76

[NDC ZADCO]

UAE

M1161

1980

Early 4/18

62

[Dynamic Drilling/ONGC]

Bareboat chartered

India

B152

1982/2004

Late 11/17

81

[NDC]

UAE

(L1112)

Noble Ed Holt

1981/2003

Late 10/18

38

[Dynamic Drilling/ONGC]

Bareboat chartered

India

L786

1983/1998

[Dynamic Drilling/ONGC]

Bareboat chartered

India

Prospector 5

6/2014

JU 2000E

HS-HE

218

[Total]

UK NS

Sold to SinoEnergy

B 391

1981-2001

[Centrica]

UK NS

4-wells

JU 2000E

HS-HE

113

Swap with C461

[ONE]

NL

Sold to SinoEnergy

3. Prospector Offshore HE-HS Jack-up new build.

Name

Year built

Spec.

Feet/K feet

Contract

End

Information

Prospector 6

Delayed

JU 2000E

HS-HE

Prospector 7

delayed

JU 2000E

HS-HE

Prospector 8

delayed

JU 2000E

HS-HE

Note: The company has the option to delay the delivery of Prospector 6. The three rigs (P6, P7 and P8) are being constructed on a non-recourse basis with no parent company guarantees. They do not figure into the fleet status anymore.

Cold Stacked and Ready Stacked Rigs

Note: Ready stacked includes warm stacked, hot stacked and available (When the status or rig name is marked in blue you can click to get more information).

1981/2002

2011

Cold stacked

M842

M825

The company indicated a backlog of $242 million as of December 31, 2016 (now estimated at $195 million as of March 10, 2017):

Paragon Fleet Status

Commentary:

Paragon Offshore released another depressing FSR after a long silence. As a reminder, the preceding fleet status was released on October 18, 2016.

1 - The company managed to bag a small 4-well contract @$55k/d, in the North See for the JU B 391 in UK with Centrica. Additional backlog is $5 million.

2 - Prospector 1 and C461. Contract runs until mid 2/2018.

Executed rig-swap with ONE, transferring all remaining contracted days from the Paragon C461 to the Prospector 1. Anticipate 6 days off rate in March 2017 for planned upgrades; these days to be added to the end of the contract.

See the original post here:

Paragon Offshore - Complete Fleet Status As Of March 10, 2017 And Commentary - Seeking Alpha