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An increasing number of energy companies are likely to file for Chapter 11, if oil prices stay low, capital markets dry up and the banks cut back on lending.
Paragon Offshore (PGN) shares are up after the company beats analysts' estimates for earnings and revenue in the first quarter.
Paragon Offshore (PGN) shares gain in after-hours after the company beat analysts' estimates for earnings in the first quarter.
Shares of offshore driller Paragon Offshore (PGN) plummeted in late afternoon trading Tuesday as oil prices declined to stop their recent rally.