Hamilton, Bermuda (January 30, 2026)
Archer announces that it 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 our 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.
We expect 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 were awarded a five-year contract with YPF with an estimated value of $600 million, as announced on December 1, 2025.
For further information, please contact:
Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email: espen.joranger@archerwell.com
Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78 748, Email: Joachim.houeland@archerwell.com
This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.