Archer secures long term Platform Drilling contract in the UK with estimated value of $50 million over the firm contract period
Archer has secured a five year contract for the provision of platform drilling operations and maintenance services on seven installations with UK North Sea Operator. The new contract will commence November 1st, 2022, in direct continuation of the current contract and contains options for an additional four years. The scope of …
Well Intervention Market Driven by New Oilfield Discoveries and Heavy Investments in Offshore Oil & Gas Assets: Fact.MR Study
A recently published report by market research and competitive intelligence provider, reveals that the global well intervention market is projected to grow at a CAGR of 7% during the forecast period (2021-2031), reaching US$ 14 Bn by 2031. Heavy investments in the discovery of new oilfields reserves on the account …
Archer Limited: Third Quarter 2021 Results
Dag Skindlo, CEO of Archer, comments: “Our activity continues to increase, particularly within our Wireline segment which was positively impacted by the full quarter of new wireline scope and the full quarter with contribution from DeepWell. Revenue came in at $242 million, an increase of $15 million compared to the …
Archer Limited: Acquisition of DeepWell approved by the Norwegian Competition Authority
Reference is made to the press release on May 10, 2021, wherein Archer announced the plan to acquire DeepWell for NOK 177 million. The completion of the acquisition was conditional on obtaining necessary regulatory approval. Such approval was granted today by the Norwegian Competition Authority. Following the approval, the transaction …
Archer Acquires DeepWell for NOK 177 Million
Archer is pleased to announce that we have signed an SPA to acquire DeepWell based on an enterprise value of NOK 177 million on a debt and cash free basis. The Transaction is accretive both to Archer’s NIBD / EBITDA ratio and EV / EBITDA ratio. Archer will use existing …
Archer Launches New Acoustic Listening Platform for Unrivalled Well Integrity and Performance Evaluation
VIVIDTM Acoustic Listening Platform and Ultra-High Sensitivity Sensors to Play Key Role in Casing and Completion Evaluation, Cement Performance Evaluation and Turbulent Flow Analysis Archer, a global oil services company and well integrity specialist, has launched the VIVIDTM acoustic listening platform — a patented, highly sensitive, acoustic technology that detects, investigates and locates …