Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
  • inderesTV
  • Portfolio
  • Forum
  • Nora AI
  • Q&A
  • About Us
    • Our Coverage
    • Team
Regulatory press release

Archer Limited: Archer secures five-year Coiled Tubing and Pumping contract in the UK with estimated potential value of up to $50 million

Archer
Read the release

Hamilton, Bermuda (May 25, 2023)

Archer is pleased to announce the award of a five-year contract for the provision of Coiled Tubing and Pumping services with Perenco UK Limited in the United Kingdom. The contract contains two options of one year each and commenced May 3, 2023 in direct continuation of our previous contract with Perenco. The estimated contract value, based on expected activity level for the committed term, is an estimated potential value of up to $50 million.

Dag Skindlo, CEO of Archer:

"We are extremely proud to announce this long-term Coiled Tubing and Pumping contract. This commitment reflects our client's confidence in our ability to maintain safe operations and continue our strong service delivery performance.

Archer announced the acquisition of the Baker Hughes UK Coiled Tubing business early in 2023 and assumed operations from April 4[th]. We have successfully transitioned the business and have a dedicated Archer Coiled Tubing team of 50 experienced and skilled employees performing safe and efficient services in the UK.

We look forward to continuing growing the Archer service offering in the UK and bringing value to our clients' P&A, workover, and intervention programs". 

For additional information, please contact:

Dag Skindlo, Chief Executive Officer, Mobile: +4798226624, Email: dag.skindlo@archerwell.com

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email: espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78 748, Email: joachim.houeland@archerwell.com

Find us on social media
  • Inderes Forum
  • Youtube
  • Instagram
  • Facebook
  • X (Twitter)
Get in touch
  • info@inderes.se
  • +46 8 411 43 80
  • Vattugatan 17, 5tr
    111 52 Stockholm
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.