May 10, 2017 / 11:29 AM / 2 months ago

Archer's U.S. partner QES says industry needs consolidation

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OSLO, May 10 (Reuters) - Rogers Herndon, Chief Executive of U.S. oil service firm Quintana Energy Services (QES), partly owned by Archer, told analysts on Wednesday in Oslo:

** "It (an initial public offering) is a potential opportunity, but it's one of avenues to go. We don't have a predetermined path"

** "Consolidations has to occur through the industry, but we need to access equity markets to consolidate, we can't do that from private equity"

** "There are quite a bit of oil service IPOs in the pipeline... but the same people are looking at strategic alternatives"

** Says while valuation of assets have become more realistic recently, oil price uncertainty has also increased

** QES provides well drilling services to U.S. onshore shale producers, and has about 8 percent market share of directional drilling

** Oslo-listed Archer owns 36 percent of QES after merging its North America oil service business in 2015 (Reporting by Nerijus Adomaitis, editing by Terje Solsvik)

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