Archer Limited: Second Quarter and Half Year 2020 Results
Hamilton, Bermuda (August 14, 2020) Second quarter 2020 highlights · Revenue of $192.8 million · Reduced activity following Covid-19 · EBITDA before exceptional items of $25.4 million · Refinanced completed with robust liquidity · Net interest bearing debt reduced to $520 million · Awarded modular rig contract for Topaz Dag Skindlo, CEO of Archer, comments: “Archer’s operational and financial results were solid in the second quarter. Despite being negatively impacted by the Covid-19 pandemic and low oil price, our financial performance was better than we