Archer Limited: Awarded strategic P&A contract and delivers record EBITDA
Hamilton, Bermuda (November 3, 2023) Archer delivered record level EBITDA for the quarter, accomplished through the combination of solid revenue-growth and margin expansion resulting in improved credit metrics. The outlook for the company remains positive, particularly as the decom and plug and abandonment (“P&A”) market is expected to increase substantially going forward. In August, we announced the Fulmar P&A contract which evidences Archer’s strategy to grow in this market. Following the successful establishment of our Well Services division in the Brazilian offshore market,