Archer Limited: First Quarter 2020 Trading Update
Hamilton, Bermuda (May 8, 2020) First quarter 2020 · Revenue of $237.1 million · Strong operational results for Q1 2020 with EBITDA before exceptional items of $28.1 million · Refinancing closed with maturity of main facility in Q4 2023 · Modular rigs mobilized for operations in New Zealand and Norway · Covid-19 and oil price reduction impacting client activity Dag Skindlo, CEO of Archer comments: “We saw a reduction in activity towards the end of March in most of our business areas following the spread of the COVID-19 and the oil price drop. Archer has since the