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Archer ( (ARHVF) ) has provided an announcement.
Archer Limited has secured an extension to an existing land drilling contract in Argentina’s Vaca Muerta formation, with a total estimated value of $130 million. The agreement covers a firm term through October 2028, plus a two-year option to 2030, and includes the provision of one Archer drilling rig and operation of a client-owned rig.
The company highlighted that the extended deal comes with improved commercial terms, enhancing contract economics and increasing backlog visibility. Management said the contract strengthens Archer’s long-standing relationship with its client and is expected to support profitability while the firm continues to focus on safe, efficient and high-performance drilling operations.
More about Archer
Archer Limited is an oilfield services company focused on land drilling operations and related support services for energy producers. The company provides drilling rigs and operational expertise in key hydrocarbon regions such as Argentina’s Vaca Muerta shale, positioning itself as a partner for long-term, performance-focused drilling campaigns.
Average Trading Volume: 184,154
Current Market Cap: NOK2.63B
See more insights into ARHVF stock on TipRanks’ Stock Analysis page.