Archer Limited: Archer awarded a two-year contract extension for drilling services in Argentina with an estimated new backlog of USD 235 million
Hamilton, Bermuda (February 1, 2022) Archer Limited (“Archer”) is pleased to announce that Pan American Energy LLC (“Pan American”) has agreed to extend the duration of Archer’s drilling services contract for further two years on improved terms. The extended contract covers 2 drilling rigs, 13 workover units and 13 pulling units on Pan American’s Cerro Dragon field in the Golfo San Jorge basin in southern Argentina. The contract runs until Q2 2025 and Pan American has the flexibility to adjust the level of activity up or down during the contract term. The total value of the contract