Archer Limited has finalized the sale of its workover operations in the southern Argentine provinces of Chubut and Santa Cruz. The divested assets include 12 workover rigs, 12 pulling units, and around 750 employees. The business generated approximately USD 27 million in revenue during the last quarter of 2025. The financial terms of the transaction were not disclosed.
This move is part of Archer’s strategy to streamline its land drilling portfolio and focus on the expanding Vaca Muerta shale field. Following the sale, Archer’s land drilling activities will concentrate on this unconventional resource, where the company recently secured a contract valued at an estimated USD 600 million with YPF.
**Why this matters**
The sale allows Archer to reallocate resources and attention to the Vaca Muerta region, which is seen as a key growth area for the company. By exiting the southern Argentina workover market, Archer aims to enhance operational efficiency and capitalize on opportunities in the shale sector. This strategic shift may impact local employment and service providers in Chubut and Santa Cruz but positions Archer for growth in a competitive energy market.