Archer announced that its subsidiary in Argentina, has been awarded a total of USD 125 million of additional drilling services to Pan American. One contract is a 2.5-year extension, with improved commercial terms, for the three drilling rigs operating in Pan American's Cerro Dragon Field. The contract extension has a value of approximately USD 100 million and runs until the fourth quarter of 2027.

The other contract is for one additional drilling rig in Vaca Muerta. This contract has a value of USD 25 million over two years. The rig will mobilize in the first quarter 2024.