Archer has entered into an agreement with a local buyer regarding potential sale of the workover business in the south of Argentina. The agreement outlines the relevant terms of a potential transaction and required closing conditions.
The potential transaction relates to the workover business in the south of Argentina, in the Provinces of Chubut and Santa Cruz, including 12 workover rigs, 12 pulling units and approximately 750 employees.
Archer expects the potential transaction to close within a short timeline but there is no certainty that the parties can complete the transaction.
Following the potential divestment, Archer’s Land Drilling business will primarily operate drilling and workover services in the unconventional Vaca Muerta field, where we the Company was awarded a five-year contract with YPF with an estimated value of $600 million, as announced on December 1, 2025.
Source: Archer
