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Archer Limited : Fourth Quarter and Preliminary 2013 Results

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Hamilton, Bermuda (February 28, 2014) 

Fourth Quarter 2013 highlights

  • Fourth quarter revenue from continuing operations of $524.1 million,   
  • Fourth quarter EBITDA from continuing operations at $41.9 million including a $11.6 million charge for restructuring and other one-time exceptional costs
  • Fourth quarter impairment charge of $423.7 million
  • Net loss for the quarter of $ 431.7 million
  • Fourth quarter operational cash flow of $37.7 million,
  • Net interest-bearing debt of $715.3 million at December 31, 2013.
  • Completed the sale of North American Underbalanced Assets to Atlas Copco

In connection with the earnings release, a conference call will be held at 7:00 Houston time, 13:00 London time, 14:00 Oslo time on Friday February 28, 2014.

For information on how to attend the webcast, detailed information is found on our webpage; http://www.archerwell.com/page/48/webcast.htm

Questions should be directed to:
David King, Chief Executive Officer
Christoph Bausch, Chief Financial Officer
Lars Bethuelsen, Senior Vice-President, M&A and Investor Relations

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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