# Archer awarded $125M in drilling services contracts with Pan American Energy in Argentina

Archer's subsidiary in Argentina has been awarded two contracts totaling $125 million: a 2.5-year extension for three drilling rigs in Cerro Dragon Field worth $100 million, and a new contract for one rig in Vaca Muerta worth $25 million over two years.

- Type: Contract
- Announced: 2024-01-26
- Where: Cerro Dragon Field; Vaca Muerta, Argentina
- Value: $125.0M
- Status: announced
- Products: drilling services, drilling rigs
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Archer Limited](https://endata.com/companies/3790.md)
- [Pan American Energy](https://endata.com/companies/60733.md) (customer)

## Sources

- [drillingcontractor.org](https://drillingcontractor.org/archer-secures-contracts-worth-125-million-in-argentina-67735), 2024-01-26: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.