Archer (ARHVF) has released an update.
Archer has acquired ADA Argentina, a Managed Pressure Drilling subsidiary of Air Drilling Associates, Inc, enhancing its drilling operations in Argentina’s Vaca Muerta basin. Funded by Archer’s local cash flow and settled over three years, the deal is set to boost Archer’s EBITDA by 2-4% by 2025 and aligns with their strategy for synergetic acquisitions. The acquisition is in line with ongoing governmental and industry initiatives that bolster drilling activities and support the region’s growth as a major non-conventional oil and gas reserve.
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