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Archer Ltd (ARCHER.OL)

ARCHER.OL on Oslo Stock Exchange

8.95NOK
15 Dec 2017
Change (% chg)

kr-0.01 (-0.11%)
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kr8.96
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Latest Key Developments (Source: Significant Developments)

Archer posts smaller than expected net loss in Q3
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Archer Ltd :q3 revenues $‍212.3​ million (Reuters poll $215 million).q3 ebitda $‍​12.8 million (Reuters poll $18.3 million).q3 net result $-4.8‍​ million (Reuters poll $-8.3 million).‍q3 ebitda of $17.8 million before exceptional items​.‍outlook for oilfield services remains uncertain, but archer is benefiting from exposure to differing geographies and early cycle segments​.‍a stable oil price at current levels will support activity growth into 2018​.‍we remain committed to de-leveraging and strengthening our balance sheet through strict capital discipline and focus on efficient operations​.‍we lost slight momentum in us during quarter as a result of hurricane harvey, but we have now recovered and are confident of continued growth going forward​.Performance of us land is expected to increase in the quarters to come.Strong liquidity position with $125 million in available liquidity‍​.Offshore drilling and exploration activity remains muted ‍​.  Full Article

Archer Q2 EBITDA ex. items down at $17.4 mln Q/Q
Friday, 29 Jul 2016 

Archer Ltd : Q2 revenue $218.8 million compared to $320.8 million year ago and $229.2 million in Q1 2015 . Q2 EBITDA before restructuring costs was $17.4 million versus $26.4 million in Q1 . Q2 EBITDA after restructuring and one-time cost was a loss of $1.6 million . As global commodity prices remained under pressure, many of its customers decided to further reduce their spending levels for 2016 . Starting to see signs of higher activity levels and expect activity to improve towards the end of the year .Expects Q3 2016 revenue to be lower than Q2 following continued reduction in drilling activities.  Full Article

Oil service firm Archer appoints John Lechner as new CEO
Friday, 29 Apr 2016 

Archer Ltd:Archer's board of directors appoints John Lechner as CEO and Dag Skindlo as director.Mr. Lechner has more than 30 years of experience in international oilfield services and replaces David King, who has been Archer's CEO since July 2013.  Full Article

Archer appoints Dag Skindlo as new CFO
Tuesday, 19 Apr 2016 

Archer Ltd:Announces appointment of Dag Skindlo as company's new chief financial officer and executive vice president strategy, effective May 1, 2016.Skindlo comes from his role as CEO for Aquamarine Subsea, a HitecVision owned company.Says Christoph Bausch has decided to leave company in order to pursue other interests.Says Bausch had been the Executive Vice President and CFO in Archer since May 2011.  Full Article

Archer wins five-year ConocoPhillips contract in Norway
Friday, 8 Apr 2016 

Archer Ltd:Says ConocoPhillips awarded Archer contract for mechanical wireline services on the Norwegian continental shelf until 2021.Says contract was awarded to Archer following a competitive tender process for ConocoPhillips' well intervention services in Norway.  Full Article

Archer awarded two-year contract extension by Statoil
Thursday, 31 Mar 2016 

Archer Ltd:Announces a two-year extension of its contract for platform drilling services.Says Statoil has exercised the first option following the original four-year contract, with two additional two-year extension options remaining.Says Archer is currently the incumbent contractor for the Statfjord A, B and C platforms.Has been additionally awarded the Njord, Sleipner A, Snorre A and B, and Visund platforms under this extension.The extension will commence on Oct. 1 which is a direct continuation of the current contracts.  Full Article

UPDATE 1-Shareholders hit hard as Seadrill files for Chapter 11 bankruptcy

OSLO, Sept 12 Seadrill Ltd, the indebted oil rig firm controlled by Norwegian billionaire John Fredriksen, has agreed a restructuring that almost wipes out existing shareholders after filing for Chapter 11 bankruptcy protection.