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Archer Ltd (ARCHER.OL)

ARCHER.OL on Oslo Stock Exchange

7.86NOK
19 Oct 2018
Change (% chg)

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Latest Key Developments (Source: Significant Developments)

Reg-Archer Limited Archer Signs Agreement To Sell U.S. Frac Valve Business
Friday, 31 Aug 2018 

Aug 31 (Reuters) - Archer Ltd ::REG-ARCHER LIMITED: ARCHER SIGNS AGREEMENT TO SELL US FRAC VALVE BUSINESS.ENTERED AGREEMENT TO SELL AWC FRAC VALVES TO A US BASED PRIVATE EQUITY FUND FOR A CONSIDERATION OF USD 30 MLN ON A DEBT- AND CASH-FREE BASIS.ARCHER CAN IN ADDITION RECEIVE AN EARN-OUT OF UP TO USD 5 MLN BASED ON FULL YEAR 2018 RESULTS.ARCHER LTD SAYS TRANSACTION WILL GENERATE AN ESTIMATED ACCOUNTING GAIN OF USD 10 MLN TO ARCHER.  Full Article

Oslo-listed Archer posts slightly higher Q1 earnings yr/yr, sees improved outlook
Tuesday, 8 May 2018 

May 8 (Reuters) - Archer Ltd ::ARCHER Q1 REVENUES $218 MILLION VERSUS YEAR-AGO $221.4 MILLION.ARCHER Q1 EBITDA $18.1 MILLION VS $17.3 MLN IN Q1 2017.ARCHER GROUP PERFORMANCE CONTINUES TO BE NEGATIVELY IMPACTED BY LAND DRILLING IN THE SOUTH OF ARGENTINA, WHICH IS SET TO IMPROVE IN SECOND HALF OF 2018.IMPROVED OUTLOOK FOR 2018 WITH A GOOD BASE FOR FURTHER GROWTH IN 2019.  Full Article

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

UPDATE 3-Norway oil workers' strike accelerates, drillers fear contract losses

* Equinor sees no short-term impact on output (Adds comment from Odfjell Drilling, Shipowners' Association)