Archer secures $600m Vaca Muerta drilling contract with YPF

Archer Limited has signed a new five-year contract with YPF for drilling services in Argentina's Vaca Muerta region, with an estimated value of $600 million. The agreement covers the provision and operation of seven advanced drilling rigs, two of which will be leased internationally to augment capacity in Argentina. The contract also includes a two-year extension option.

The rigs will be equipped with integrated Managed Pressure Drilling (MPD) systems. Archer's chief executive, Dag Skindlo, stated that the contract will strengthen the company's market position, positively impacting revenue visibility and profitability.

Gerardo Molinaro, Archer's executive vice president of land drilling, highlighted the continued partnership with YPF, a leading player in Argentina's oil and gas industry, reinforcing Archer's commitment to operational excellence in strategic projects.