Archer Limited: Archer acquires Baker Hughes’ Coil Tubing and Pumping business in the UK
Archer Limited is pleased to announce that we have signed definitive agreements with Baker Hughes Limited to acquire its coil tubing and pumping (“CT&P”) business in the United Kingdom. The CT&P business includes four complete CT&P packages with supporting equipment, specialized and optimized for the UK market. As part of …
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 Signs Offer Letter to Acquire DeepWell
Archer Limited is pleased to announce that we have signed an offer letter with Moreld laying out principle terms to purchase 100% of the shares in Deepwell AS (“DeepWell”). The contemplated transaction is subject to due diligence, negotiation of the transaction documentation, closing conditions and regulatory approvals. DeepWell is a …
Archer Limited: Archer Supports the Planned Merger Between Quintana Energy Services Inc. and KLX Energy Services Holdings Inc.
Reference is made to the announcement on May 3, 2020, by Quintana Energy Services Inc., whereby QES outlined its plan to merge with the Nasdaq listed U.S. onshore oilfield services company KLX Energy Services Holdings Inc. in an all-stock transaction. KLXE and QES plan to combine their services, establishing an …
Archer Limited: Archer’s Board of Directors appoints Dag Skindlo as CEO and Espen Joranger as CFO of Archer
Archer Limited is pleased to announce the appointment of Dag Skindlo as the Company’s new Chief Executive Officer. Dag Skindlo joined Archer as Chief Financial Officer and EVP Strategy in May 2016. Kjell-Erik Østdahl, Chairman of Archer, comments: “I’m pleased that Dag will take on this challenge. We have had …
Archer Limited: CEO John Lechner Resigns
Archer Limited announces that CEO John Lechner has resigned from his position, effective immediately. He will remain as a senior advisor to the Archer leadership team during the transition period until a new CEO is appointed. During the interim period, Archer Chairman Kjell-Erik Østdahl will assume the role of Executive …