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Archer Finances Great White Energy Services Acquisition
Last month, Archer Limited agreed to acquire Great White Energy Services (“GWES”), a company which provides horizontal and directional drilling services, pressure control and pressure pumping for $742 million. The acquisition gives Archer an entry point into the rapidly expanding “frac” market in the US as well as effectively doubling Archer’s US coil tubing and directional drilling capacity.
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Tags: · Archer Limited, Carnegie, Danske Markets, DnB NOR Markets, First Securities, Great White Energy Services, Lime Rock Partners V.L.P, Nordea Markets, Pareto Securities, RS Platou Markets, Seadrill Limited
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