IR news

Archer Limited : Fourth Quarter and Preliminary 2015 Results

Hamilton, Bermuda (February 29, 2016)

Fourth Quarter 2015 highlights

  • Fourth quarter revenue from continuing operations was $282.5 million
  • Fourth quarter EBITDA from continuing operations of $11.7 million including $9.1 million of restructuring costs
  • Fourth quarter impairment charge from continuing operations of $50.2 million 
  • Fourth quarter impairment charge from discontinuing operations of $127.3 million 
  • Net loss for the quarter of $244.1 million
  • Fourth quarter operational cash flow of $19.2 million
  • Net interest-bearing debt of $782.1 million at December 31, 2015
  • Amended credit facilities to provide sufficient flexibility up to and including Q1 2017
  • Completed the transaction to combine the North American Pressure Pumping, Pressure Control, Directional Drilling and Wireline divisions with Quintana Energy Services LP.

In connection with the earnings release, a conference call will be held at 7:00 Houston time, 13:00 London time, 14:00 Oslo time on February 29, 2016..

For information on how to attend the webcast, detailed information is found on our webpage;

Questions should be directed to:

David King, Chief Executive Officer

Christoph Bausch, Chief Financial Officer

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.