Patterson-UTI to lease two rigs to Archer

Patterson-UTI signed a multi-year agreement to lease two high-spec APEX 1500 drilling rigs to Archer. The rigs will support Archer’s operations in Argentina’s Vaca Muerta formation as part of its seven-rig contract with YPF that was announced in December 2025.

The rigs will be provided from Patterson-UTI’s existing US fleet, and Archer will be responsible for all preparation, upgrade and mobilization costs. The rigs are expected to commence operations by mid-2026.