Archer secures drilling contract in Vaca Muerta with estimated value of $600 million

01 Dec 2025 08:00 CET

Hamilton, Bermuda (December 1, 2025)

Archer Limited ("Archer") is pleased to announce the signing of a new five-year
contract with YPF for the provision of drilling services in Vaca Muerta,
Argentina. The contract, with an estimated value of $600 million, covers the
provision and operation of seven advanced drilling rigs and marks a significant
step forward in both companies' ongoing collaboration to deliver safe,
efficient, and technologically advanced drilling operations in the Vaca Muerta
region.

Under the terms of the agreement, Archer will provide and operate seven drilling
rigs, equipped with integrated Managed Pressure Drilling (MPD) systems. Two of
these rigs will be leased internationally, bringing additional drilling capacity
to Argentina. In addition to the firm five-year term, the contract includes a
two-year extension option.

"We are proud that YPF, through this important award, once again demonstrates
its confidence in our ability to deliver operational excellence," said Dag
Skindlo, CEO of Archer. "The contract will strengthen our market position in the
region and contribute positively to revenue visibility and profitability over
the coming years, ultimately translating into shareholder value."

Gerardo Molinaro, EVP of Land Drilling at Archer, added: "YPF is the leading
player in Argentina's Oil & Gas industry, the signing of this new contract makes
us proud while reaffirming our commitment to excellence in every aspect of our
operations. We look forward to continuing our successful partnership with YPF on
its most strategic projects."

For additional 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 pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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