Archer to acquire DeepWell from Moreld for $20m.

Archer, an international oilfield service company, agreed to acquire DeepWell, a provider of well-intervention services, from Moreld, an operator of an industrial group, for $20m. “An acquisition of DeepWell would secure Archer’s access to a modern fleet of electric wireline units, as well as enable participation in the vessel-based light well intervention market. Strengthening our equipment fleet, broadening our low carbon/low emission solutions and continuing our track record for service quality are all key aspects of our strategy on the NCS. We are impressed by DeepWell’s team and look forward to continuing this process with them,” Dag Skindlo, Archer CEO.