Archer Limited : Second quarter and first half 2017 financial report

Hamilton, Bermuda (July 28, 2017) Second quarter 2017 highlights Revenue $209.2 million. EBITDA of $15.7 million, excluding restructuring costs of $2.8 million. Net income of $112.9 million, including net financial gain of $121.1 million from the refinancing. Secured contract with Pan American Energy for Land Drilling totalling $700 million. Secured renewal of three contracts with […]

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Archer Limited : 2017 Annual General Meeting

Hamilton, Bermuda (July 14, 2017) Archer Limited advises that its 2017 Annual General Meeting will be held on September 22, 2017. The record date for voting at the Annual General Meeting is set to July 24, 2017. The notice, agenda and associated material will be distributed prior to the meeting This information is subject to […]

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Archer Limited : Debt refinancing completed

Hamilton Bermuda (June 29, 2017) Further to the release issued by Archer Limited (the “Company”) on June 16, 2017, the Company is pleased to announce that all conditions precedent to the Restructuring Documents have been satisfied. This means that the debt refinancing of the Company, as announced on 28 February 2017, has been completed. Enquiries: […]

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Archer Limited : Update on comprehensive refinancing – Scheme of Arrangement sanctioned by the Supreme Court of Bermuda

Hamilton, Bermuda (16 June, 2017) Further to the press release issued by the company on 3 May 2017, Archer Limited (“Archer“) is pleased to announce that the scheme of arrangement (the “Scheme“) in connection with the debt refinancing of the company (the “Refinancing“) was sanctioned by the Supreme Court of Bermuda at the sanction hearing […]

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Archer Limited : Outlines strategy and outlook at Investor Day 2017

Hamilton, Bermuda (May 10, 2017) Archer Limited (“Archer”) today presents the company strategy and financial outlook at its Investor Day 2017 held in Oslo, Norway. The company outlines its leading positions in selective segments of the oil services industry, an EBITDA margin target of 11% through the cycle, and the ambition of selective non-core divestments. […]

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Archer Limited : PanAmerican Energy will award Archer a four year contract for drilling services in southern Argentina with an estimated contract value of NOK 6 billion

Hamilton, Bermuda  (May 10, 2017) Archer Limited (“Archer”) announces that PanAmerican Energy («PanAmerican») will award Archer’s subsidiary DLS Argentina Ltd. Surcusal a four-year contract for the provision of Drilling, Workover and Pulling Services for PanAmerican’s Cerro Dragon field in the Golfo San Jorge basin in southern Argentina. Archer has provided Drilling, Workover and Pulling Services […]

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Archer Limited : First Quarter 2017 Trading Update

Hamilton, Bermuda (May 4, 2017) First quarter 2017 highlights  Archer agreed the terms of a comprehensive debt refinancing and raised $100 million in a private placement. First quarter revenue was $201.6 million. First quarter underlying EBITDA was $17.3 million, excluding restructuring costs of $2.4 million. Net loss was improved by $26 million from $48.3 in […]

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Archer Limited : Update on comprehensive refinancing – final documentation in agreed form and implementation by way of scheme of arrangement commenced

Hamilton, Bermuda (May 3, 2017) Reference is made to the release concerning the comprehensive debt refinancing (the “Refinancing”) of Archer Limited (“Archer” or the “Company”) as announced on 28 February 2017. As previously announced, Archer has secured agreement with lenders representing 94% of the exposure under the Company’s main facility, the USD 625 million revolving […]

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Archer Limited : Announcement of first quarter 2017 trading update release date and conference call information

Hamilton, Bermuda (May 2, 2017) Archer Limited’s first quarter 2017 trading update is scheduled to be released on Thursday May 4, 2017. In connection with the trading update release, a conference call will be held at 8:00 Houston time, 14:00 London time, 15:00 Oslo time on Thursday May 4, 2017. To listen to the conference […]

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