Archer Limited: First Quarter 2019 Earnings Release and changes to the Board of Directors

Hamilton, Bermuda (May 9, 2019) First quarter highlights 2019 Revenue of $225.7 million EBITDA of $25.0 million or 11.1% of revenue, an increase of 89% relative to the same period last year. EBIT of $11.9 million or 5.3% of revenue, versus a loss in same period last year Net Interest Bearing Debt further reduced to […]

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Archer Limited: Announcement of first quarter 2019 earnings release date and conference call information

Hamilton, Bermuda (April 29, 2019) Archer Limited’s first quarter 2019 earnings are scheduled to be released on May 9, 2019 before the start of trading on Oslo Stock Exchange. In connection with the earnings release, a conference call will be held at 8:00am London time, 9:00am Oslo time on May 9, 2019. To listen to […]

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Archer Limited: Chevron awards Archer new Platform Drilling and Maintenance Services contract for the Alba Northern and Captain platforms in the UK

Hamilton, Bermuda (23 April, 2019) Archer Limited (“Archer” or the “Company”) announces that Archer (UK) Limited is awarded a new five-year firm contract with two times one year options for the provision of platform drilling services for Chevron North Sea Limited. As part of the contract, Archer will continue to provide onshore rig operations, maintenance […]

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Archer Limited: Annual report 2018

Hamilton, Bermuda (April 12, 2019) Attached is Archer Limited’s Annual Report for 2018. In the Annual Report for 2018 we have revised the carrying value of our QES shares from the previous reported numbers in our Q4 2018 Report published on 27 February 2019. The carrying value of QES shares have been updated based on […]

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Archer Limited: CEO John Lechner resigns

Hamilton, Bermuda (March 22, 2019) 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 […]

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Archer Limited : Settlement of restricted stock units

Hamilton, Bermuda (March 6, 2019) In connection with Archer’s long term incentive program 98,000 restricted stock units (“RSUs”) have vested and the same amount of common shares have been distributed to Archer employees. The Company has used treasury shares for settlement. The following primary insiders were amongst the recipients of shares: Mr. John Lechner, CEO, […]

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Archer Limited : Mandatory notification of trade

Hamilton, Bermuda (February 27, 2019) Archer Limited (“the Company”) has through market purchases executed on February 27, 2019 repurchased 110,000 of the Company’s own common stock at an average price of NOK 6.1055 per share. After these transactions the Company has a holding of 115,875 treasury shares. This information is subject to the disclosure requirements […]

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Archer Limited: Fourth Quarter 2018 Earnings Release

Hamilton, Bermuda (February 27, 2019) Fourth quarter highlights 2018 – Best operational results since 2015  Revenue of $233.2 million, an increase of 9% from third quarter.   EBITDA before exceptional items of $26.9 million, an increase of $10.4 million or 63% relative to Q4 2017.   EBITDA of $24.3 million, an increase of $9.6 million or 65% […]

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Archer Limited – Repurchase of shares for incentive programs

Hamilton Bermuda (February 22, 2019) In order to meet Archer’s obligations under the employee’s incentive programs, the Board has authorized a limited share buyback program under which Archer may repurchase up to 200,000 of the outstanding shares during 2019. Archer intends to repurchase shares from time to time in open market transactions in accordance with […]

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