Hamilton Bermuda (April 29, 2016)

Archer’s Board of directors is pleased to announce the appointment of John Lechner as Chief Executive Officer and Dag Skindlo as Director effective immediately.

Mr. Lechner has more than 30 years of experience in international oilfield services and replaces Mr. David King, who has been Archer’s CEO since July 2013.

Mr. Lechner joined Archer in 2012 and has held positions as President North Sea Region since July 2013 and President Eastern Hemisphere since January 2016. His oilfield experience comprises assignments in the North American, African, European, Russian, Middle Eastern and Far Eastern markets from employment with Schlumberger, Parker Drilling and OiLSERV previous to joining Archer.

Ørjan Svanevik, chairman of Archer’s board of directors, said: “John has extensive experience in the oilfield service industry.  He has through his various executive roles in Archer a proven track record of profitable operations in some of Archer’s core business lines, even during very challenging market conditions. We would like to thank David King for his leadership of Archer for the past three years, and wish him all the best for his future endeavors.”

A graduate of the University of Notre Dame (USA), Mr. Lechner started his career as a wireline field engineer and later switched his technical focus to integrated services and drilling.  For 20 years he held various operations and business development roles in contract drilling and integrated project management. Mr. Lechner is an American citizen and resides in Stavanger, Norway.

Mr. Skindlo will in addition to being a Director hold the position as CFO and EVP Strategy.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.