Archer posts best quarterly operating result in 3 years

Oil services company Archer returned to profit and saw a slight increase in revenues during the third quarter of this year when compared to the same period last year.

As of Friday, Archer reported revenue of $213,7 million for the third quarter of 2018, versus $212,3 million for the same period a year earlier. 3 million, compared to a net loss of $2018 million in the same period last year. According to the company, this was the best quarterly operating result in three years. John Lechner, CEO of Archer, commented, "Archer is pleased to deliver the strongest reported quarterly EBITDA margin since the third quarter of 6,9."

Lechner also said, “As of October 1st, we were able to onboard approximately 400 new employees as we mobilized to four additional Equinor platforms, as awarded in the second quarter. Our onshore and offshore teams have been working tirelessly to ensure a safe and effective start-up and transition across all platforms, and we expect more modest headcount growth in the future as demand for our services increases in the marketplace.

“Growth in our other Eastern Hemisphere businesses stabilized in the third quarter, but with increased drilling activity from contracted rigs, well-scheduled service projects and forecast underlying growth in E&P spending, I am confident we will see a sustained incremental growth in the coming quarters. .

Recommended for you

Opportunity for Mechanical Turner at Raizen

Licensee of the Shell brand in Brazil, Raizen has high quality fuels in its portfolio
Raizen is a Brazilian company that offers different forms of energy, mobilizing people and…

Paulo Nogueira

0

Be the first to react!

0

Liked

0

Amei

0

Haha

0

Uau

0

Sad

0

grr