Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Archer ( (ARHVF) ) just unveiled an update.
Archer has entered into an agreement with a local buyer for the potential sale of its workover business in southern Argentina, covering operations in the Chubut and Santa Cruz provinces and including 12 workover rigs, 12 pulling units and around 750 employees, subject to satisfaction of closing conditions and with no assurance of completion. Post-divestment, Archer’s land drilling business would be more heavily focused on providing drilling and workover services in the unconventional Vaca Muerta field, where it recently secured a five-year, approximately $600 million contract with YPF, signaling a strategic shift toward higher-growth unconventional assets in Argentina and a potential reshaping of its regional footprint and resource allocation.
More about Archer
Archer is an oilfield services company with a land drilling and workover business, providing drilling and workover services in key onshore markets. The company’s operations in Argentina include activities in both conventional fields in the southern provinces and unconventional developments such as the Vaca Muerta shale, often under long-term contracts with major operators like YPF.
Average Trading Volume: 203,763
Current Market Cap: NOK2.38B
For detailed information about ARHVF stock, go to TipRanks’ Stock Analysis page.