Patterson-UTI Inks Rig Lease Deal for Archer's Vaca Muerta Operations [Yahoo! Finance Canada]
YPF Sociedad Anonima (YPF)
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Source: Yahoo! Finance Canada
PTEN, a leading provider of onshore drilling and pressure pumping services, has secured a significant agreement to lease two state-of-the-art APEX 1500 drilling rigs to DLS Archer Ltd. S.A ("Archer"), a unit of Archer Ltd. This multi-year deal will support Archer's operations in the Vaca Muerta formation, one of the world's largest unconventional oil and gas reserves, located in Argentina. This agreement marks a pivotal step in Patterson-UTI's strategy to enhance its international presence and strengthen position in key oil and gas markets across the globe. Expanding International Footprint With APEX 1500 Drilling Rigs The two APEX 1500 drilling rigs that Patterson-UTI will lease to Archer are part of Patterson-UTI's existing fleet of high-spec rigs in the United States. These advanced rigs are equipped with cutting-edge technology designed to meet the demands of high-performance, unconventional drilling projects. The rigs will be mobilized to Argentina to support Archer's contrac
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