Archer Enters Five-year Contract With YPF

(RTTNews) - Archer Limited (ARCHER.OL) announced the signing of a new five-year contract with YPF for the provision of drilling services in Vaca Muerta, Argentina. The contract, with an estimated value of $600 million, covers the provision and operation of seven advanced drilling rigs. Archer will provide and operate seven drilling rigs, equipped with integrated Managed Pressure Drilling systems.

Dag Skindlo, CEO of Archer. "The contract will strengthen our market position in the region and contribute positively to revenue visibility and profitability over the coming years, ultimately translating into shareholder value."