Hamilton, Bermuda (October 2, 2025)

Reference is made to the notification dated September 24, 2025, wherein Archer announced its agreement to acquire Premium Oilfield Services, LLC (“Premium”). 

We are pleased to announce that the transaction has now closed, in accordance with previously communicated terms.

About Premium

Premium is a well-established US well service provider within fishing and P&A related services. With a first-class workforce and excellent service reputation with major operators, Premium’s large and well-maintained equipment portfolio will provide meaningful synergies with Archer’s business. Archer and Premium’s complimentary client bases represent more than 80% of the estimated $15 billion spend in deepwater P&A and decommissioning in the Gulf of America up to 2040. 

For additional information please contact:

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email: espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78 748, Email: joachim.houeland@archerwell.com