Archer has secured a four-year contract extension with Apache Corp. on Sept. 23 for the provision of platform drilling operations and maintenance services on Beryl Alpha and Bravo, Forties Alpha, Bravo, Charlie and Delta in the U.K. North Sea.
The extension will commence January 1, 2021 in direct continuation of the current contract. Based on current and expected future activity, including additional services through our engineering, rentals and oiltools divisions, the extension has an estimated value of up to $100 million.
“We are very pleased to secure this contract extension which underlines Apache’s confidence in Archer’s capabilities in providing platform drilling and maintenance services on their assets. The extension strengthens our long-term business relationship with Apache, which dates back to 2004, and our position as a major provider of platform-based drilling and intervention solutions in the U.K.,” Dag Skindlo, CEO of Archer, said.
“During these challenging times, the professionalism of our team has ensured safe and efficient services to Apache. We firmly believe this contract win is a result of Archer’s continual commitment to provide operators with our experience and the right solutions to improve well delivery, integrity and performance,” Skindlo added.
Recommended Reading
Resurrected Enron Hijinks Gets Serious with New Electric Business
2025-02-03 - After Enron returned as a seemingly elaborate hoax, Enron Energy Texas’ vice president told Hart Energy the company aims to deliver real electricity to consumers.
E&P Highlights: Feb. 3, 2025
2025-02-03 - Here’s a roundup of the latest E&P headlines, from a forecast of rising global land rig activity to new contracts.
Exxon Enlists Baker Hughes to Support Uaru, Whiptail Offshore Guayana
2025-02-03 - Baker Hughes’ will provide specialty chemicals and related services in support of the Uaru and Whiptail projects in the Stabroek Block.
E&Ps Pivot from the Pricey Permian
2025-02-02 - SM Energy, Ovintiv and Devon Energy were rumored to be hunting for Permian M&A—but they ultimately inked deals in cheaper basins. Experts say it’s a trend to watch as producers shrug off high Permian prices for runway in the Williston, Eagle Ford, the Uinta and the Montney.
US Drillers Add Oil, Gas Rigs for First Time in Eight Weeks
2025-01-31 - For January, total oil and gas rigs fell by seven, the most in a month since June, with both oil and gas rigs down by four in January.