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

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