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Archer Ltd (ARCHER.OL)

ARCHER.OL on Oslo Stock Exchange

5.20NOK
22 Mar 2019
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Latest Key Developments (Source: Significant Developments)

Archer's CEO steps down with immediate effect
Friday, 22 Mar 2019 

March 22 (Reuters) - Archer Ltd ::ARCHER LIMITED: CEO JOHN LECHNER RESIGNS.JOHN LECHNER HAS RESIGNED FROM HIS POSITION, EFFECTIVE IMMEDIATELY.DURING INTERIM PERIOD, ARCHER CHAIRMAN KJELL-ERIK ØSTDAHL WILL ASSUME ROLE OF EXECUTIVE CHAIRMAN.ARCHER'S STRATEGY REMAINS INTACT AND PROCESS OF FINDING A NEW CEO HAS BEGUN.  Full Article

Archer repeats outlook for 2019 revenue to grow 4-6 pct
Wednesday, 27 Feb 2019 

Feb 27 (Reuters) - Archer Ltd ::ARCHER LIMITED: FOURTH QUARTER 2018 EARNINGS RELEASE.ARCHER Q4 REVENUES $233.2 MILLION VERSUS PRELIMINARY JANUARY REPORT $233 MILLION.ARCHER Q4 EBITDA BEFORE ITEMS $26.9 MILLION VERSUS PRELIMINARY JANUARY REPORT $27 MILLION.ARCHER Q4 EBITDA $24.3 MILLION VERSUS PRELIMINARY JANUARY REPORT $24 MILLION.ARCHER SEES 2019 REVENUE GROWTH 4-6 FROM 2018 VERSUS JANUARY VIEW 4-6 PERCENT GROWTH.  Full Article

Archer Q3 ebitda up 45 pct, on track to reach targets
Friday, 2 Nov 2018 

Nov 2 (Reuters) - Archer Ltd ::ARCHER Q3 REVENUES $213.7 MILLION ($212.3 MLN IN Q3 2017).EBITDA BEFORE EXCEPTIONAL ITEMS OF $25.7 MILLION, AN INCREASE OF 45 PCT FROM SAME QUARTER LAST YEAR ($17.8 MLN IN Q3 2017) .ARCHER DELIVER STRONGEST QUARTERLY EBITDA MARGIN REPORTED SINCE Q3 OF 2015.ARCHER Q3 NET PROFIT $6.9 MLN (-$4.6 MLN).BOTTOM LINE PERFORMANCE IS A RESULT OF AN IMPROVED MARKET IN EASTERN HEMISPHERE, AS WELL AS A STRONG OPERATIONAL DELIVERY AND LOWER COST BASE IN ARGENTINA.ARCHER - WITH ONLY ONE QUARTER LEFT IN YEAR, WE FEEL CONFIDENT WE CAN DELIVER OUR STATED OBJECTIVES OF IMPROVED FINANCIAL RESULTS IN SECOND HALF OF 2018, AN EBITDA MARGIN IMPROVEMENT OF 1-2 PCT RELATIVE TO 2017, AND CAPEX BELOW 3 PCT OF REVENUE.CONFIDENT IT WILL SEE SUSTAINED INCREMENTAL GROWTH IN COMING QUARTERS.EXPECTS Q4 REVENUES IN LAND DRILLING TO BE LOWER THAN Q3 BASED ON THE EXPECTATION THAT THE AVERAGE EXCHANGE RATE WILL BE LOWER QUARTER ON QUARTER.CURRENT PERFORMANCE AND FORECASTED E&P GROWTH AMONG OIL COMPANIES PROVIDES GOOD FOUNDATION FOR FURTHER GROWTH IN 2019.  Full Article

Reg-Archer Limited Archer Signs Agreement To Sell U.S. Frac Valve Business
Friday, 31 Aug 2018 

Aug 31 (Reuters) - Archer Ltd ::REG-ARCHER LIMITED: ARCHER SIGNS AGREEMENT TO SELL US FRAC VALVE BUSINESS.ENTERED AGREEMENT TO SELL AWC FRAC VALVES TO A US BASED PRIVATE EQUITY FUND FOR A CONSIDERATION OF USD 30 MLN ON A DEBT- AND CASH-FREE BASIS.ARCHER CAN IN ADDITION RECEIVE AN EARN-OUT OF UP TO USD 5 MLN BASED ON FULL YEAR 2018 RESULTS.ARCHER LTD SAYS TRANSACTION WILL GENERATE AN ESTIMATED ACCOUNTING GAIN OF USD 10 MLN TO ARCHER.  Full Article

Oslo-listed Archer posts slightly higher Q1 earnings yr/yr, sees improved outlook
Tuesday, 8 May 2018 

May 8 (Reuters) - Archer Ltd ::ARCHER Q1 REVENUES $218 MILLION VERSUS YEAR-AGO $221.4 MILLION.ARCHER Q1 EBITDA $18.1 MILLION VS $17.3 MLN IN Q1 2017.ARCHER GROUP PERFORMANCE CONTINUES TO BE NEGATIVELY IMPACTED BY LAND DRILLING IN THE SOUTH OF ARGENTINA, WHICH IS SET TO IMPROVE IN SECOND HALF OF 2018.IMPROVED OUTLOOK FOR 2018 WITH A GOOD BASE FOR FURTHER GROWTH IN 2019.  Full Article

Archer posts smaller than expected net loss in Q3
Tuesday, 31 Oct 2017 

Oct 31 (Reuters) - Archer Ltd :q3 revenues $‍212.3​ million (Reuters poll $215 million).q3 ebitda $‍​12.8 million (Reuters poll $18.3 million).q3 net result $-4.8‍​ million (Reuters poll $-8.3 million).‍q3 ebitda of $17.8 million before exceptional items​.‍outlook for oilfield services remains uncertain, but archer is benefiting from exposure to differing geographies and early cycle segments​.‍a stable oil price at current levels will support activity growth into 2018​.‍we remain committed to de-leveraging and strengthening our balance sheet through strict capital discipline and focus on efficient operations​.‍we lost slight momentum in us during quarter as a result of hurricane harvey, but we have now recovered and are confident of continued growth going forward​.Performance of us land is expected to increase in the quarters to come.Strong liquidity position with $125 million in available liquidity‍​.Offshore drilling and exploration activity remains muted ‍​.  Full Article