PATTERSON-UTI ENERGY (PTEN) announced a multi-year agreement to lease two high-spec APEX 1500 drilling rigs to DLS Archer, a division of Archer (ARHVF). The rigs will support Archer’s operations in Argentina’s Vaca Muerta formation as part of its seven-rig contract with YPF that was announced in December. The rigs will be provided from Patterson-UTI’s existing U.S. fleet, and Archer will be responsible for all preparation, upgrade and mobilization costs. The rigs are expected to commence operations by mid-2026.
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