I very much doubt that Bristow are cutting their connection with PAAN. I think that some people, having seen that there are a few changes in the upper levels of PAAN management are putting 2+2 together and making 5.
I'm no longer in Nigeria, having moved to The Haven of Peace, but I still have contact with many friends in The Tropical Paradise
and none of them have heard anything. There's also the fact that PAAN are just bidding for the renewal of the Chevron contract which would be unlikely to happen if their association with Bristow were suddenly to finish.