Subsequent Event

12 Months Ended

Dec. 31, 2015

Subsequent Events [Abstract]

Subsequent Event

Note 24 - Subsequent Event

On February 12, 2016, we entered into an agreement in principle for a settlement with Paragon Offshore under which, in exchange for a full and unconditional release of any claims by Paragon Offshore in connection with the Spin-off (including certain claims that could be brought on behalf of Paragon Offshore’s creditors), we agreed to assume the administration of Mexican tax claims for specified years up to and including 2010, as well as the related bonding obligations and certain of the related tax liabilities. The Company expects the tax liability payments related to the settlement to be spread over a number of years.  Our agreement in principle with Paragon Offshore is subject to approval of the bankruptcy court following Paragon Offshore’s filing of a pre-negotiated bankruptcy plan.  Once the settlement with Paragon Offshore is approved by the bankruptcy court, the Company would take a charge related to the agreement.