Archer has further strengthened its position in the Vaca Muerta shale play through the award of a new 2-year drilling contract with Vista, with an additional 1-year option. The contract expands Archer’s customer base in Argentina and further strengthens its position in one of the world’s most attractive unconventional resource basins. The total contract value is estimated at USD 35-40 million over the full contract term, including the optional extension year.
Under the agreement, Archer will deploy its AC drilling rig DLS-156 to support Vista’s development program in the region. The addition of Vista represents an important milestone in Archer’s growth strategy in Argentina. As development in the basin continues to accelerate, Archer looks forward to establishing a strong and long-term partnership with Vista and supporting the operator in delivering its drilling objectives safely, efficiently and reliably.
Gerardo Molinaro, VP of Land Drilling at Archer, commented: 'We are extremely proud to be part of Vista’s projects and to add them to our portfolio of customers. The deployment of the DLS-156 shows the confidence leading operators place in our people, our technology, and our execution capabilities. This agreement not only strengthens our presence in Vaca Muerta but also reinforces our commitment to supporting the long-term growth of Argentina’s energy industry. We look forward to building a strong and successful partnership with Vista as we work together to unlock the full potential of this world-class resource.'
Source: Archer
