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An announcement from Archer ( (ARHVF) ) is now available.
Archer has entered into an agreement with Patterson-UTI to rent two high-specification drilling rigs, which will be deployed under Archer’s seven-rig contract with Argentine energy company YPF in the Vaca Muerta shale formation. The additional rigs are intended to optimize drilling efficiency and safety in non-conventional fields, reinforce Archer’s presence in the expanding Vaca Muerta market, and support execution of its recently awarded contract while positioning the company to meet rising demand for rigs and advance its broader growth strategy in integrated drilling and Managed Pressure Drilling solutions.
More about Archer
Archer is an oilfield services company specializing in integrated drilling solutions, with a particular focus on land drilling and non-conventional fields such as the Vaca Muerta shale formation in Argentina. The company has been expanding its capabilities, including through the acquisition of ADA to offer integrated Managed Pressure Drilling services, to capture growing demand for advanced drilling technologies in key shale markets.
Average Trading Volume: 221,534
Current Market Cap: NOK2.38B
Learn more about ARHVF stock on TipRanks’ Stock Analysis page.