Archer signs offer letter to acquire DeepWell
Hamilton, Bermuda (April 26, 2021) Archer Limited is pleased to announce that we have signed an offer letter with Moreld laying out principle terms to purchase 100% of the shares in Deepwell AS (“DeepWell”). The contemplated transaction is subject to due diligence, negotiation of the transaction documentation, closing conditions and regulatory approvals. DeepWell is a leading Norwegian well intervention company focused on mechanical wireline and cased hole logging services. Headquartered in Avaldsnes, Norway, DeepWell had approximately 200 employees and a revenue of NOK 355 million