Archer - M&A Activity 2026 | FinancialReports.eu

Archer has entered an agreement to sell the workover business in the south of Argentina

Hamilton, Bermuda (January 30, 2026)

Archer announces that it has entered into an agreement with a local buyer

regarding potential sale of the workover business in the south of Argentina. The

agreement outlines the relevant terms of a potential transaction and required

closing conditions.

The potential transaction relates to our workover business in the south of

Argentina, in the Provinces of Chubut and Santa Cruz, including 12 workover

rigs, 12 pulling units and approximately 750 employees.

We expect the potential transaction to close within a short timeline but there

is no certainty that the parties can complete the transaction.

Following the potential divestment, Archer's Land Drilling business will

primarily operate drilling and workover services in the unconventional Vaca

Muerta field, where we were awarded a five-year contract with YPF with an

estimated value of $600 million, as announced on December 1, 2025.

For further information, please contact:

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email:

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78

This information is subject to the disclosure requirements according to Section

5-12 of the Norwegian Securities Trading Act.

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