Archer successfully raises Great White equity financing from Seadrill and Lime Rock at NOK 35 per share.

Hamilton, Bermuda (August 26, 2011) Archer Limited’s (“Archer“) board has, today, resolved to issue 12.7 million new shares of USD 2.- par value at a subscription price of NOK 35,- per share in a private placement directed towards its two largest shareholders, Seadrill Limited (“Seadrill“) and Lime Rock Partners V.L.P. (“Lime Rock“). Seadrill was allocated […]

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Mandatory notification of trade

On August 25, 2011, Jørgen P. Rasmussen, President, CEO and primary insider of Archer Limited, sold 10,000 shares at NOK 24.53 in Archer Limited. After this transaction, Jørgen P. Rasmussen holds directly and indirectly 223,000 shares and 1,725,000 stock options in Archer Limited. This information is subject of the disclosure requirements acc. to §5-12 vphl […]

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Mandatory notification of trade

On August 25, 2011, Jørgen P. Rasmussen, President, CEO and primary insider of Archer Limited, purchased 10,000 shares at NOK 25.75 in Archer Limited. After this transaction, Jørgen P. Rasmussen holds directly and indirectly 233,000 shares and 1,725,000 stock options in Archer Limited. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian […]

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Archer Limited (ARCHER) Second Quarter 2011 Results

Second Quarter Highlights   ·         Second quarter revenue of $ 459.9 million·         Second quarter EBITDA of $ 68.8 million. Non GAAP operating EBITDA at $ 75.3 million, excluding $ 4.1 million of merger related costs and $ 2.3 million stock based compensation ·         Net income for the quarter of $ 1.3 million including $ 4.1 […]

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Archer completes acquisition of Great White Energy Services on revised terms of USD 630 million.

Hamilton, Bermuda (August 23, 2011)   Archer Limited (OSE: ARCHER), through a wholly owned subsidiary (Archer), has concluded satisfactory due diligence and obtained antitrust approval for its announced acquisition of the Great White Energy Services group of companies (Great White).   In light of recent development in the financial markets, Archer and Wexford Capital LP […]

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ARCHER announces second quarter 2011 earnings release date and conference call information

Hamilton, Bermuda (August 17, 2011)   Archer’s second quarter 2011 results are scheduled to be released on Wednesday August 24, 2011 before the start of trading on the Oslo Stock Exchange.   In connection with the earnings release, a conference call/webcast will be held at 3PM BST (4PM CEST) on Wednesday 24, 2011 by Jorgen Peter Rasmussen, […]

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Archer to acquire Great White Energy Services for USD 742 million on a cash and debt free basis

The acquisition gives Archer an entry point into the rapidly expanding frac market and effectively doubles its coil tubing and directional drilling capacity in the United States where development of unconventional oil and natural gas shale plays continue to drive E&P investments.  The combined company will be operational in all major oil and gas regions […]

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ARCHER -Allis-Chalmers, a material subsidiary of Archer, discloses a restatement of its 2010 financial statements

Hamilton, Bermuda (July 28, 2011)   Allis-Chalmers Energy Inc., a material subsidiary of Archer, announced yesterday a restatement of its financial statements for the year ended December 2010, to record a valuation allowance for its deferred tax assets. The company expects that this restatement will lead to a revision of its preliminary purchase accounting related […]

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ARCHER – Share capital increase – exercise of options

Hamilton, Bermuda (July 28, 2011) In connection with Archers option program, 25,000 options have been exercised at a strike price of NOK 18.00 per share. After these transactions, the total number of options outstanding in Archer Limited is 12,430,572. In connection with the exercised options, Archer Limited has issued 25,000 common shares. The authorized share capital of […]

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