TCR_Public/160730.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, July 30, 2016, Vol. 20, No. 212


PARAGON OFFSHORE: Suffers $8.91 Million Net Loss in May
PEABODY ENERGY: Reports $120.3 Million Net Loss at May 31


PARAGON OFFSHORE: Suffers $8.91 Million Net Loss in May
Paragon Offshore plc, et. al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for May 2016.

Paragon Offshore plc reported a net loss of $8.91 million on zero
revenue for the month, as compared to $7.41 million net loss posted
for April.

As of May 31, 2016, Paragon Offshore plc posted total assets of
$3.84 billion, total liabilities of $2.33 billion, and $1.52
billion in total shareholders' equity.

The Debtors started the month with $518.81 million cash.  They
listed $97.38 million in total receipts and $36.04 million in
total disbursements.  At month end, the Debtors had $559.26
million cash.

A copy of the monthly operating report is available at the SEC at:


                   About Paragon Offshore

Paragon Offshore plc -- is a    

global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas.  Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the
over-the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-10410) on Feb.
14, 2016, after reaching a deal with lenders on a reorganization
plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the

The Debtors reported total assets of $2.47 billion and total debts
of $2.96 billion as of Sept. 30, 2015.

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.

PEABODY ENERGY: Reports $120.3 Million Net Loss at May 31
Peabody Energy Corporation, et. al., filed with the U.S. Securities
and Exchange Commission their corporate monthly operating report
for April 13, 2016 through May 31, 2016.

The Debtors' consolidated statement of operations reported a net
loss of $120.3 million on $531.8 million total revenue for April
13, 2016 through May 31, 2016.

As of May 31, 2016, the Debtors posted consolidated total assets of
$11.93 billion, consolidated total liabilities of $11.28 billion,
and $645.8 million in consolidated total shareholders' equity.

The Debtors listed $847 million in total cash receipts and $259.7
million in total cash disbursements.

A copy of the corporate monthly operating report is available at
the SEC at:


               About Peabody Energy Corporation

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.  The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount
Mine in Australia.  In addition to its mining operations, the
Company markets and brokers coal from other coal producers, both
as principal and agent, and trade coal and freight-related
contracts through trading and business offices in Australia,
China, Germany, India, Indonesia, Singapore, the United Kingdom
and the U.S.

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777 million in 2014 and the $513 million net loss
in 2013.

At Dec. 31, 2015, the Company had total assets of $11.02 billion
against $10.1 billion in total liabilities, and stockholders'
equity of $919 million.

On April 13, 2016, Peabody Energy Corp. and 153 affiliates filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code.  The 154 cases are pending joint
administration before the Honorable Judge Barry S. Schermer under
Case No. 16-42529 in the U.S. Bankruptcy Court for the Eastern
District of Missouri.

As of the Petition Date, PEC has approximately $4.3 billion in
outstanding secured debt obligations and $4.5 billion in
outstanding unsecured debt obligations.

The Debtors tapped Jones Day as general counsel; Armstrong,
Teasdale LLP as local counsel; Lazard Freres & Co. LLC and
investment banker Lazard PTY Limited as investment banker; FTI
Consulting, Inc., as financial advisors; and Kurtzman Carson
Consultants, LLC, as claims, ballot and noticing agent.

The Office of the U.S. Trustee appointed seven creditors of Peabody
Energy Corp. to serve on the official committee of unsecured
creditors.  The Committee is represented by Dimitra Doufekias,
Esq., at Morrison & Foerster LLP and Sherry K. Dreisewerd, Esq., at
Spencer Fane LLP.

Michael J. Russano, Esq., at Davis Polk & Wardwell LLP is counsel
to Citibank, N.A. as Administrative Agent and L/C Issuer under the
Debtors' Postpetition Secured Credit Facility and as Administrative
Agent, Swing Line Lender and L/C Issuer under the Debtors'
Prepetition Secured Credit Facility.

Laura Uberti Hughes, Esq., at Bryan Cave is the local counsel to
Citibank, N.A. as Administrative Agent and L/C Issuer under the
Postpetition Secured Credit Facility and as Administrative Agent,
Swing Line Lender and L/C Issuer under the Prepetition Secured
Credit Facility.


Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
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Each Tuesday edition of the TCR contains a list of companies with
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The Sunday TCR delivers securitization rating news from the week


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Troubled Company Reporter is a daily newsletter co-published
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