Brief: Archer Increases Ownership In Geothermal Specialist Iceland Drilling

Archer

16/08/2024 05:47

Aug 16 (Reuters) - Archer Ltd  ARCHA.OL :
    * ARCHER LIMITED: INCREASES OWNERSHIP IN GEOTHERMAL
SPECIALIST
ICELAND DRILLING
    * ARCHER LTD: TRANSACTION IS EXPECTED TO ENHANCE ARCHER'S
CASH
GENERATION AND REDUCE ARCHER'S LEVERAGE RATIO
    * ARCHER LTD - AGREED TO ACQUIRE AN ADDITIONAL 10% OF SHARES
IN
ICELAND DRILLING FROM ITS JOINT VENTURE PARTNER KALDBAKUR FOR
USD 2.5 MILLION
    * ARCHER LTD - INCLUSION OF ICELAND DRILLING IS PROJECTED TO
INCREASE ARCHER'S FULL YEAR 2024 PROFORMA REVENUE BY
APPROXIMATELY 4%
    * ARCHER LTD: ARCHER WILL SETTLE 100% OF USD 2.5 MILLION
PURCHASE
PRICE WITH ARCHER LIMITED SHARES
    * ARCHER - INCLUSION OF ICELAND DRILLING IS PROJECTED TO
INCREASE
ARCHER'S FY24 EBITDA BY 6-7%

Source text for Eikon:  ID:nWkr11mK6f 
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