Archer Limited: Archer receives extension notification from Pan American Energy LLC for drilling services contract in Argentina
Hamilton, Bermuda (June 10, 2021) Archer Limited (“Archer”) announces that Pan American Energy LLC (“Pan American”) has provided a two year extension notification for Archer’s drilling, workover and pulling services contract for Pan American’s Cerro Dragon field in the Golfo San Jorge basin in southern Argentina. Pan American has the flexibility to adjust the level of activity up or down over the contract term. The total estimated value of the contract extension, based on current activity level, is expected to be USD 200 million, subject to actual activity level, services provided, and