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Last 2.25 NOK
Change Today +0.09 / 4.17%
Volume 3.9M
ARCHER On Other Exchanges
Symbol
Exchange
Stockholm
OTC US
Frankfurt
As of 11:25 AM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

archer ltd (ARCHER) Snapshot

Open
2.25 NOK
Previous Close
2.16 NOK
Day High
2.28 NOK
Day Low
2.17 NOK
52 Week High
07/7/14 - 12.40 NOK
52 Week Low
03/5/15 - 1.98 NOK
Market Cap
1.3B
Average Volume 10 Days
2.6M
EPS TTM
-0.17 NOK
Shares Outstanding
579.2M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for ARCHER LTD (ARCHER)

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archer ltd (ARCHER) Details

Archer Limited, an oilfield service company, provides various oilfield products and services to the oil and gas industry. The company provides casing exit services; cementing technology and tools; consulting; directional drilling; engineering; fishing; integrity diagnostics; integrity testing; land drilling; perforating; platform drilling; pressure control; pressure pumping; and production logging services. It also provides gate valves, gas tight plugs, and modular drilling rigs; rents various equipment comprising drill pipes, tubings, hevi-wate drill pipes, and drill collars and maintains manifolds, BOP’s, annular preventers, spacer spools, adapter spools, double studded adapters, test plugs, wear bushings, retrieving tools, and other assorted handling tools. In addition, the company offers wellbore imaging, well cleaning, and wireline and cased hole investigation services. It offers land drilling services through a fleet of 77 rigs, including 29 drilling rigs and 48 service rigs. The company operates in Angola, Argentina, Australia, Bolivia, Brazil, China, Denmark, Egypt, Malaysia, Norway, Qatar, Saudi Arabia, Singapore, Thailand, the United Arab Emirates, the United Kingdom, and the United States. The company was formerly known as Seawell Limited and changed its name to Archer Limited in May 2011. Archer Limited is based in Hamilton, Bermuda.

8,800 Employees
Last Reported Date: 02/23/15

archer ltd (ARCHER) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

archer ltd (ARCHER) Key Developments

Archer Ltd Plans to Cut 11% of its Global Workforce

Archer Ltd. plans to cut 11% of its global workforce. Archer cited the reduction in activity and demand for its services as the reason for the cuts. The company saw the biggest reduction in the U.S. land market, as well as the North Sea.

Archer Limited Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Capital Expenditure Guidance for the Year 2015; Provides Earnings Guidance for the First Quarter of 2015

Archer Limited reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenue of $603.7 million, compared to $524.1 million a year ago. Operating loss was $27.4 million compared to $420.5 million a year ago. Loss from continuing operations before income taxes was $81.0 million compared to $438.2 million a year ago. Net loss was $90.2 million or 0.16 per diluted share compared to $431.7 million or 0.75 per diluted share a year ago. Capital expenditures were $82.4 compared to $24.4 million a year ago. EBITDA was $69.3 million compared to $41.9 million a year ago. For the year, the company reported total revenues of $2,253.6 million compared to $2,041.3 million reported a year ago. Operating profit was $25.9 million compared to operating loss of $437.9 million reported a year ago. Loss from continuing operations before income taxes was $76.3 million compared to $511.6 million a year ago. Net loss was $96.4 million or 0.17 per diluted share compared to $518.6 million or 0.94 per diluted share a year ago. Net cash provided by operating activities was $137.5 million compared to $71.6 million a year ago. Capital expenditures were $256.3 million compared to $117.5 million a year ago. Long-term portion of interest bearing debt as on December 31, 2014 was $747.2 million compared to $613.9 million a year ago. Capital expenditures for 2015 have been reviewed and adjusted to the new market environment. Total expenditures for the year are estimated at $165 million, including the committed remaining investments in new land rigs destined for Argentina amounting to approximately $70 million. Out of the remaining $95 million, approximately $15 million is committed; $40 million is related to maintenance CAPEX and the remaining CAPEX is earmarked for tenders and other growth opportunities. The company expects first quarter 2015 revenue to be approximately 15-20% lower than the fourth quarter 2014, with lower revenues expected in all divisions. Seasonal slowdown in the North Sea, two less operating days combined with an unfavourable exchange rate effect and spending cuts from several customer are the key reasons for this reduction. EBITDA for the same period is also expected to reduce in line with the lower activity as well as the absence of the $2.1 million one off credit related to the true up of pension provisions. The company expects first quarter 2015 revenue for Latin America to be 5-10% below the fourth quarter 2014, reflecting the absence of part of the retroactive rate adjustments in the fourth quarter 2014, two less operating days, an expected increase in social unrest and to a lesser extent lower pricing in the light of the adverse market conditions on a global level. As a result, the company expects first quarter 2015 EBITDA in addition to the absence of the one-time benefits recognized in the fourth quarter 2014 to be negatively impacted by the reduced revenue.

Archer Limited, Q4 2014 Earnings Call, Feb 23, 2015

Archer Limited, Q4 2014 Earnings Call, Feb 23, 2015

 

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