Archer signs agreement with Patterson-UTI to lease two high spec drilling rigs for the Vaca Muerta field in Argentina

15 Jan 2026 12:19 CET

Hamilton Bermuda (January 15, 2026)

Archer and Patterson-UTI (NASDAQ: PTEN) have entered into an agreement for
Archer to rent 2 high spec drilling rigs from Patterson-UTI. These rigs are
designed to optimize drilling efficiency in non-conventional fields such as the
Vaca Muerta shale formation and will be deployed under Archer's recently
announced seven-rig drilling contract with YPF (December 1st, 2025), further
strengthening Archer's position as a leading provider of integrated drilling
solutions.

This agreement enables both organizations to strengthen their presence in the
growing Vaca Muerta field, while optimizing resources and offering high-value
solutions that not only boost productivity but also enhance operational safety.
The shared vision is centered on excellence, continuous innovation, and meeting
the highest performance standards.

Gerardo Molinaro, VP of Land Drilling at Archer: "The addition of two high spec
drilling rigs to our fleet strengthens our presence in the Vaca Muerta non
-conventional field, supports execution of our newly awarded contract with YPF,
and positions us to meet rising demand for rigs across the market. These
additional rigs under operation also advance our growth strategy, initiated two
years ago with the acquisition of ADA to offer integrated Managed Pressure
Drilling solutions."

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

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