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2021-05-31

Archer Limited: Acquisition of DeepWell approved by the Norwegian Competition Authority

Hamilton, Bermuda (May 31, 2021)

Reference is made to the press release on May 10, 2021, wherein Archer announced the plan to acquire DeepWell for NOK 177 million.  The completion of the acquisition was conditional on obtaining necessary regulatory approval. Such approval was granted today by the Norwegian Competition Authority.

Following the approval, the transaction is expected to close over the next few days. 

For additional information please contact:

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

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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