Hamilton, Bermuda (November 3, 2016)

Third Quarter 2016 highlights

  • Third quarter revenue from continuing operations was $214.4 million.
  • Third quarter EBITDA before net restructuring costs was $21.5 million.
  • Third quarter cash generated from underlying operations to financing activities and servicing of debt was $6.2 million.
  • Net interest-bearing debt was $814.9 million at September 30, 2016.
  • Archer Oiltools has launched a new product family named “Stronghold”, which enables us to deliver faster, safer and more economical solutions for a series of perforating, washing and cementing systems.
  • Aker BP extended the Platform Drilling services contract in Norway for additional three years.

In connection with the earnings release, a conference call will be held at 14:00 Oslo time on Thursday, November 3, 2016.

For information on how to attend the webcast, detailed information is found on our webpage; http://archerwell.com/investor-relations/webcast/

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