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Tuesday, 11/24/2015 8:07:16 AM

Tuesday, November 24, 2015 8:07:16 AM

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Archer in Well Services Business Sale

Archer Limited has signed a definitive agreement to sell all the outstanding shares of Archer Pressure Pumping LLC, Archer Directional Drilling Services LLC, Archer Wireline LLC and Great White Pressure Control LLC to Quintana Energy Services LP (QES) in return for equity in QES. Upon the completion of the transaction, Archer will receive QES common units representing approximately 42% of the pro forma limited partner interest in QES.

QES, a portfolio company of Quintana Energy Partners LP, operates in the US onshore oilfield services industry through its subsidiaries, Directional Drilling Company and Consolidated Oil Well Services, the directional drilling and completion services business units of QES, respectively....

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