Norwegian contractor Archer has secured two new contracts for operations in the Americas, encompassing a plugging and abandonment project in the US Gulf of Mexico and a drilling rig rental agreement for the Vaca Muerta shale play in Argentina.

US Gulf of Mexico P&A Contract

Archer, in partnership with oilfield contractor SLB, has been awarded an integrated plugging and abandonment contract by Equinor for its Titan platform in the US Gulf. The scope of work involves the plugging of three wells. Archer will deliver a range of services including well engineering, coiled tubing operations, and downhole P&A technologies.

Argentina Drilling Rig Agreement

In Argentina, Archer has entered into an agreement with Patterson-UTI to rent two high-specification drilling rigs for operations in the Vaca Muerta shale formation. This rental supports a $600 million contract that Archer previously secured with YPF in December. The addition of these rigs is intended to strengthen Archer's presence in the Vaca Muerta non-conventional field, facilitate the execution of the YPF contract, and position the company to meet increasing market demand for rigs.

The financial value of these individual contracts was not disclosed.