Archer Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
Provider: Wright Reports
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Archer Ltd Receives Contract for Services to Apache Platforms in North Sea
Archer Ltd announced that it has secured a three-year contract to provide platform drilling and maintenance services to six Apache platforms in the North Sea. This contract is an extension to the Company's existing contract which began in 2004. In addition, Archer has been awarded the contract for the Beryl Alpha and Beryl Bravo platforms, which Apache recently acquired from ExxonMobil. These platforms are currently operated by KCA Deutag, but will now fall under the new Archer contract. As a result Archer now provides services to six Apache platforms in the North Sea. In addition to the firm contract, which will run until 2015, the contract also comes with two one-year options for extension.
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