Oil Services CEO: Market Activity Will Increase in 2018



Oil Services CEO: Market Activity Will Increase in 2018
Market activity will increase in 2018, according to John Lechner, chief executive officer of oil services company Archer.

Market activity will increase in 2018, according to John Lechner, chief executive officer of oil services company Archer.

“On the back of a higher oil price relative to a year ago, we believe that market activity will increase in 2018, albeit at different levels within the segments where Archer operates,” Lechner said in a company statement.

“Overall, we are aiming for both higher revenue and 1-2 percent increase in EBITDA margin relative to 2017,” he added.

Archer reported revenues of $223.7 million in the fourth quarter of 2017, which was 5 percent higher than the previous quarter, along with EBITDA of $16.5 million before exceptional items.

“Throughout 2017, Archer had a dedicated focus on cash generation,” Lechner stated.

“In the fourth quarter, we delivered strong cash flow through effective operations and improvement in our working capital,” he added.



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