Newpark Resources Announces Two Deepwater Contract Awards
THE WOODLANDS, Texas, April 18, 2013
THE WOODLANDS, Texas, April 18, 2013 /PRNewswire/ --Newpark Resources, Inc.
(NYSE: NR) today announced that it has been awarded two deepwater contracts.
In Brazil, the Company was awarded a two-year contract from a subsidiary of
Total S.A., to provide drilling fluids and related services for a series of
wells planned in the Campos Basin. The Company was also awarded a contract by
another supermajor to provide drilling fluids and related services for a
series of wells to be drilled in the Black Sea. Work under both contracts is
expected to begin in the fourth quarter of 2013.
Bruce Smith, President of Newpark Drilling Fluids, stated, "These deepwater
contract awards represent significant milestones in our continued penetration
of the offshore market and our expanding global presence. Partnering with
these two world-class organizations on these offshore drilling campaigns
further solidifies our position as a leading global provider of
high-performance fluids systems and engineering."
Newpark Resources, Inc. is a worldwide provider of drilling fluids, temporary
worksites and access roads for oilfield and other commercial markets, and
environmental waste treatmentsolutions. 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, 2012, as well as others, could cause results
to differ materially from those stated. These risk factors include, but are
not limited to, our ability to execute our business strategy and make
successful business acquisitions and capital investments, our customers'
activity levels in exploration and drilling , operating hazards inherent in
the oil and natural gas industry, particularly offshore, our international
operations, the availability of raw materials and skilled personnel, , our
customer concentration and cyclical nature of our industry, our market
competition, the cost and continued availability of borrowed funds, legal and
regulatory matters, including environmental regulations, inherent limitations
in insurance coverage, potential impairments of long-lived intangible assets,
technological developments in our industry, and the impact of severe weather,
particularly in the U.S. Gulf Coast. 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.
Ken Dennard, Managing Partner
Karen Roan, SVP
SOURCE Newpark Resources, Inc.
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