Northeast deal

Archer in $8m swoop on Ellon firm Romar-Abrado

Archer operates around the world

Global oil services company Archer has acquired the Aberdeenshire plug and abandonment specialist Romar-Abrado for an enterprise value of $8 million.

The cash and debt free acquisition has an earn-out pending trading performance over 2023 to 2025.

Romar-Abrado, based in Ellon, employs 50 people with revenue of approximately $10 million in 2021.

The company was formed last year from a merger of Romar International and Abrado Wellbore Services.

Archer is traded on the Oslo Stock Exchange and its main operations are in Europe, North and South America. It is expanding rapidly throughout the Middle East, Asia Pacific and West Africa.

The company was formed in 2011 through the combination 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.

It has a heritage that stretches back over 40 years and operates in 40 locations providing drilling services, well integrity & intervention, plug & abandonment and decommissioning to its upstream oil and gas clients.

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