Newpark Resources Awarded Contract in Australia's Offshore Market

THE WOODLANDS, Texas, March 14, 2012 /PRNewswire/ -- Newpark Resources, Inc. (NYSE: NR) today announced that it has been awarded a contract from one of Australia's largest oil and gas exploration and production companies.  Newpark will provide drilling fluids, along with field personnel, equipment and materials, for a project in the Carnarvon Basin off the northwest coast of Australia.  The two-year contract is expected to provide revenues of up to $10 million in its first year, and work under the contract is expected to begin in the second quarter of 2012. 

Bruce Smith, President of Newpark Drilling Fluids, stated, "This award demonstrates the importance of our strategic investment in the Asia Pacific region and further solidifies our position as a leading global provider of high-performance drilling fluids and services.  We are extremely pleased with this opportunity to introduce our technology to new customers in the Asia Pacific region and believe we are well positioned to operate in this important and developing market going forward."

Newpark Resources, Inc. is a worldwide provider of drilling fluids, temporary worksites and access roads for oilfield and other commercial markets, and environmental waste treatment solutions.  For more information, visit our website at www.newpark.com.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act that are based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including Newpark's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Newpark, particularly its Annual Report on Form 10-K for the year ended December 31, 2011, as well as others, could cause results to differ materially from those stated. These risk factors include, but are not limited to, the availability of raw materials and skilled personnel, the impact of restrictions on offshore drilling activity in the Gulf of Mexico, our customer concentration and cyclical nature of our industry, our market competition, the cost and continued availability of borrowed funds, our international operations, legal and regulatory matters, including environmental regulations, inherent limitations in insurance coverage, potential impairments of long-lived intangible assets, technological developments in our industry, the impact of severe weather, particularly in the U.S. Gulf Coast, and our ability to execute our business strategy and make successful capital investments and business acquisitions.  Newpark's filings with the Securities and Exchange Commission can be obtained at no charge at www.sec.gov, as well as through our website at www.newpark.com.

 

Contacts:

Gregg Piontek, VP & CFO Newpark Resources, Inc.

 

281-362-6800

 

 

 

Ken Dennard, Managing Partner

 

Karen Roan, SVP

 

Dennard Rupp Gray & Lascar, LLC

 

713-529-6600

 

SOURCE Newpark Resources, Inc.



RELATED LINKS
http://www.newpark.com

More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.