Second Quarter 2021 Highlights
- Revenue increased by 18.3% year over year
-
EBITDA of
$21.2 million despite challenging situation inArgentina - Positive net income of
$1.6 million , equivalent toUSD 0.01 per share - Completed acquisition of DeepWell
-
Backlog addition totaling
$325 million in Land Drilling, Wireline and Oiltools
Dag Skindlo, CEO of Archer, comments:
"We grew our EBITDA on the back of increased activity in both Eastern and Western Hemisphere in the quarter and report positive net income, despite the continued difficult Covid-19 situation and financial distress in
Our Wireline division experiences a sharp increase in activity as they commenced the new integrated wireline contract with
Archer believe in always being highly service-oriented and work integrated with our customers, which have enabled us to gain market share and deliver measurable efficiencies to our customers. In the quarter we secured
The ongoing energy transition is creating new challenges and opportunities for Archer. We are committed to contribute with services and innovative solutions which support this transformation. Later this year we will announce our commitment to emission reduction and our plan for our long-term participation in the energy transition."
For additional information please contact:
Joachim Houeland | Manager Treasury & Investor Relations | Mobile: +47 482 78 748 | Email: joachim.houeland@archerwell.com
Q2 Presentation
In connection with the earnings release, a presentation will be held at
A. Webcast
To register for the webcast please go to https://streams.eventcdn.net/archer/2021q2/
B. Conference call
To access the call, which is open to the public, please dial in at the participant telephone numbers listed below. Please call in 10 minutes prior to the scheduled start time, and ask for the "Archer Second Quarter 2021 Earnings Release Call"
Participants dial-in:
The operator will ask for your name and company. Following the presentation there will be a Q&A session. Information on "how to ask questions" will be given at the beginning of the Q&A session.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act
https://news.cision.com/archer-limited/r/archer-limited--second-quarter-and-first-half-2021-results,c3395828
https://mb.cision.com/Public/17569/3395828/a8bbc0a7bb38ab01.pdf
https://mb.cision.com/Public/17569/3395828/9f7f4a5f13f0c53a.pdf
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