Newpark Resources awarded contract in Australia's Offshore Market

Thursday, March 15, 2012
  • 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.

Newpark Resources, Inc. (NYSE: NR) 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."

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related News

Join 70,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Your details are never shared or sold. We hate spam too.

» More Jobs       » Upload a free Job       » Upload your CV

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • Eight pieces of our oil price predicament
    A person might think that oil prices would be fairly stable. Prices would set themselves at a level that would be high enough for the majority of producers, so ...
  • Give us a break...
    I see that Oil & gas UK has been talking again about the need for George Osborne to ‘put his money where his mouth is’ (I paraphrase!) and change the fiscal terms operati ...
  • Why it's different this time
    Is this downturn in oil prices going to be different for investors? I think it might. In fact, I think North American energy companies have a good chance of withstanding th ...

» More Opinion & Commentary         » Write for us             RSS RSS

Oil & Gas Training

Mastering 4D Seismic
Ian Jack, London, 06 Nov 2014

Petroleum Geology of West Africa
Duncan Macgregor, London, 12 Nov 2014

Introduction to Contingency Planning: The value to oil and gas companies in high-risk areas
Mark Theobald, London, 18 Nov 2014

All Upcoming Training


Opinions & Commentary

World War III: It's here and energy is largely behind it

by Kurt Cobb

Read More »