Noble spin off company Paragon offshore?

Professional Mariner Forum
1

http://gcaptain.com/noble-paragon-offshore-executives-announced/

Anyone have the details on why Noble is starting a spin off company? Trying to limit their exposure to liability? It seems they put most of their the jack up rigs in Paragon offshores portfolio and only a few drill ships and semi’s. Curious to know the motive behind this move.

2

[QUOTE=ChiefRob;130037]http://gcaptain.com/noble-paragon-offshore-executives-announced/

Anyone have the details on why Noble is starting a spin off company? Trying to limit their exposure to liability? It seems they put most of their the jack up rigs in Paragon offshores portfolio and only a few drill ships and semi’s. Curious to know the motive behind this move.[/QUOTE]

I certainly do not know, but the most likely reasons for this type of thing are usually tax minimization, or financing, or both.