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2016-02-29

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; http://archerwell.com/investor-relations/webcast/

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.

Fourth Quarter and Preliminary 2015 Results
http://hugin.info/143663/R/1990034/731038.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Archer Limited via Globenewswire

HUG#1990034

Författare WKR

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