Archer Limited has closed the acquisition of Romar-Abrado. The acquisition is based on an enterprise value of USD 8 million, plus earn-out pending trading performance over 2023 to 2025. The acquisition is conducted on a debt free basis and financed by available cash at hand. Romar-Abrado offers advanced milling and SWARF handling services to the global Plug and Abandonment market. Its combined approach and first-class operating knowledge provide innovative technologies through integrated milling and SWARF handling services to deliver permanent, verifiable, and emission-free well barriers and highly predictable alternative zonal isolation P&A solutions.‘Romar-Abrado is an amalgamation of ROMAR International and Abrado Wellbore Services. Collaborating as sister companies since 2020, Romar-Abrado was formally aligned in 2022. Formed in 2001, ROMAR International specialises in providing innovative magnetic separation technologies associated with the management and processing of drilling fluids for the oil and gas industry worldwide. Romar-Abrado employs 50 people with revenue of approximately USD 10 million in 2021. Archer is a global oil services company with a heritage that stretches back over 40 years, with a strong focus on safety and delivering the highest quality products and services. Archer operates in 40 locations providing drilling services, well integrity & intervention, plug & abandonment and decommissioning to its upstream oil and gas clients. Formed in 2011, Archer is the coming together of two well specialist companies Seawell and Allis-Chalmers Energy along with several complementary businesses, each with a deep heritage in delivering wells and improving well performance.
Archer Limited has closed the acquisition of Romar-Abrado. The acquisition is based on an enterprise value of USD 8 million, plus earn-out pending trading performance over 2023 to 2025. The acquisition is conducted on a debt free basis and financed by available cash at hand. Romar-Abrado offers advanced milling and SWARF handling services to the global Plug and Abandonment market. Its combined approach and first-class operating knowledge provide innovative technologies through integrated milling and SWARF handling services to deliver permanent, verifiable, and emission-free well barriers and highly predictable alternative zonal isolation P&A solutions.‘Romar-Abrado is an amalgamation of ROMAR International and Abrado Wellbore Services. Collaborating as sister companies since 2020, Romar-Abrado was formally aligned in 2022. Formed in 2001, ROMAR International specialises in providing innovative magnetic separation technologies associated with the management and processing of drilling fluids for the oil and gas industry worldwide. Romar-Abrado employs 50 people with revenue of approximately USD 10 million in 2021. Archer is a global oil services company with a heritage that stretches back over 40 years, with a strong focus on safety and delivering the highest quality products and services. Archer operates in 40 locations providing drilling services, well integrity & intervention, plug & abandonment and decommissioning to its upstream oil and gas clients. Formed in 2011, Archer is the coming together of two well specialist companies Seawell and Allis-Chalmers Energy along with several complementary businesses, each with a deep heritage in delivering wells and improving well performance.
