The Toronto-listed Latin America specialist said three drilling rigs "recently" tied up contracts with YPF.

Rigs 551 and 1201 will go to the explorer for up to a combined five years, while Rig 1001 was awarded a five-year deal with YPF.

Estrella is also negotiating a two-year extension with Pluspetrol for Rig 103.

Estrella is already seeing utilisation rates of 90% for the market and expects to have six rigs working in Argentina by the first quarter of 2014.

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