PATTERSON-UTI ENERGY, INC. ("Patterson-UTI" or "the Company") today announced a multi-year agreement to lease two high-spec APEX 1500锟� drilling rigs to DLS Archer Ltd. S.A ("Archer"), a division of Archer Ltd. The rigs will support Archer's operations in Argentina's Vaca Muerta formation as part of its seven-rig contract with YPF S.A. ("YPF") that was announced in December 2025. The rigs will be provided from Patterson-UTI's existing U.S. fleet, and Archer will be responsible for all preparation, upgrade and mobilization costs. The rigs are expected to commence operations by mid-2026.
"We are excited to expand our international presence and support Archer and YPF by providing the APEX 1500 rigs for drilling in Argentina's Vaca Muerta basin," said Mike Holcomb, Patterson-UTI's Chief Operating Officer. "Our existing fleet of high-quality assets is well-suited to meet the region's growing demand for unconventional drilling, and this agreement marks a significant step in our disciplined approach to expanding our international footprint. The expansion complements our established position in drilling products, including Ulterra drill bits, in Argentina."