Archer appoints new CEO

Archer Limited, a recently formed oil field services company, has appointed former Halliburton executive David King as its new chief executive officer, planning to leverage his three decades of experience in international oil field services as it works to broaden its reach in the market.

King worked at Halliburton for more than 30 years in a range of executive roles, including president of Halliburton’s completion and production division. He left the company in 2010.

King will be based in Houston. Archer is headquartered Hamilton, Bermuda.

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Archer specializes in well integrity and intervention products and services, unconventional wells and production drilling. It was formed in 2011 when Seawell acquired Allis-Chalmers Energy and now has more than 8,000 employees around the world.

King said he plans to further expand its international expertise to improve the company’s profitability.

“We clearly have short term challenges, linked to present oversupply of capacity in the US domestic oil service market, but I see solid business opportunities for our services including our technology in the global oil and gas market,” King said. “It is going to be a lot of hard work where all business areas will have to be thoroughly reviewed, but I am ready to roll up the sleeves, and together with all its employees make Archer into a reliable and profitable major oil service company.”

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King will replace Fredrik Halvorsen, who has served as the interim CEO since January 2012.

“David has an impressive background in the oilfield service industry, deep experience in creating value in Archer’s core business lines, and a vision for leading Archer to the next level,” said John Reynolds, chairman of Archer’s board of directors, in a written statement. “The Board of Directors is excited that he has joined as our new CEO.”