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

  • Rosneft and Gazprom break into Brazil
    During the third quarter of 2014, both Rosneft and Gazprom have made notable advances into the Brazilian oil and gas sector. As of mid-July 2014, the Brazilian Na ...
  • For a few trillion barrels more
    Today, Scotland will vote on the following question: Should Scotland be an independent country? Answer YES and the vote is for independence, answer NO and the vote i ...

» More Opinion & Commentary         » Write for us             RSS RSS


Opinions & Commentary

Oil price, Scotland, Aminex and finally...

by Malcolm Graham-Wood

Read More »