Archer’s Board of Directors announced the appointment of David King as Chief Executive Officer. Mr King has over 30 years of experience in international oilfield services and will replace Fredrik Halvorsen who has been Archer’s interim CEO since January 2012.
Having built a distinguished career with Halliburton, Mr King held numerous executive leadership roles and worked most recently as president of Halliburton’s Completion and Production Division. He left Halliburton in 2010 after 32 years with the company, to become an independent consultant and currently serves as director on several boards in the United States.
John Reynolds, chairman of Archer’s board of directors, said: “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. We would like to thank Fredrik Halvorsen for his leadership during a challenging period for Archer and the global oilfield service business.”
Speaking about his appointment Mr King said, “As Fredrik hands over the reins, I look forward to further building the company and making Archer an even more essential service partner to our customers. 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.”
