Archer Limited: Fourth Quarter and Preliminary 2021 Results

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Hamilton, Bermuda (February 25, 2022)

Fourth Quarter 2021 Highlights

  • Revenue of $252 million
  • EBITDA before exceptional items increased by $2.3 million to $25.8 million
  • EBITDA of $22.4 million
  • NIBD reduced to $500 million at year-end
  • Impairment of $13.5 million in the quarter related to idle assets in Argentina

Subsequent events previously announced

  • Contract extension for Pan American Energy totaling $235 million
  • Contract extension for Equinor totaling $565 million

Archer will not host a conference call in relation to the quarterly release, as the Trading Update presentation held on February 2nd covered the operational and financial results in Q4 2021. 

The presentation held on February 2nd remain available at

For additional information please contact:

Espen Joranger, Chief Financial Officer | Mobile: +47 982 06 812 | Email:

Joachim Houeland, Manager Treasury & Investor Relations | Mobile: +47 482 78 748 | Email:

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