Archer Limited has announced the signing of a new five-year contract with YPF for the provision of drilling services in Vaca Muerta, Argentina. Valued at an estimated 600 million dollars, the agreement covers the provision and operation of seven advanced drilling rigs and represents a further strengthening of the long-standing collaboration between the two companies to deliver safe, efficient and technologically advanced drilling operations in the region.
Under the terms of the contract, Archer will provide and operate seven drilling rigs equipped with integrated Managed Pressure Drilling systems. Two of the rigs will be leased internationally, adding additional drilling capacity to Argentina’s onshore sector. In addition to the firm five-year term, the agreement includes an option to extend for a further two years.
Dag Skindlo, CEO of Archer, said the award reflects YPF’s continued confidence in Archer’s ability to deliver operational excellence. He noted that the contract will strengthen Archer’s market position in the region and provide improved revenue visibility and profitability over the coming years, supporting long-term shareholder value.
Gerardo Molinaro, executive VP of Land Drilling at Archer, highlighted YPF’s position as the leading player in Argentina’s oil and gas industry, stating that the new contract reinforces Archer’s commitment to excellence across all aspects of its operations. He added that Archer looks forward to continuing its successful partnership with YPF on some of its most strategic projects in Vaca Muerta.
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