Key Developments: Newpark Resources Inc (NR.N)

NR.N on New York Stock Exchange

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30 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Newpark Resources Inc announces closing of sale of environmental services business
Monday, 17 Mar 2014 04:15pm EDT 

Newpark Resources Inc:Completed the previously announced sale of its Environmental Services business to ecoserv, LLC, a portfolio company of Denver-based Lariat Partners, LP, for $100 million in cash.Proceeds will be used for general corporate purposes, including investments in its core drilling fluids and mats segments, potential acquisitions, along with the continued share purchases under the current repurchase program.  Full Article

Newpark Resources Inc announces board of directors changes
Thursday, 13 Mar 2014 04:15pm EDT 

Newpark Resources Inc:Says After eleven years of service, and in accordance with the company's mandatory retirement policy, Jerry Box, Chairman of the Board, announced that he will retire following the Annual Stockholders Meeting in May.  Full Article

Newpark Resources Inc announces definitive agreement to sell environmental services business
Tuesday, 11 Feb 2014 07:00am EST 

Newpark Resources Inc:Says it has entered into a definitive agreement to sell its Environmental Services business to ECOSERV, LLC, a portfolio company of Denver-based private equity group Lariat Partners, LP.Under the terms of the agreement, Newpark will receive $100 million in cash, subject to adjustment based on actual working capital conveyed at closing.While containing representations, warranties and indemnities which are customary for transactions of this nature, this agreement significantly limits Newpark's post-closing environmental obligations, including those related to the waste transfer and disposal facilities.  Full Article

Newpark Resources Inc Announces Middle East Contract Award
Monday, 20 May 2013 06:00am EDT 

Newpark Resources Inc announced that it has been awarded and has entered into a contract with the Kuwait Oil Company to provide drilling fluids and related services for land operations. The agreement has an initial term of up to five years, and subject to the customer's activity levels the Company estimates that revenues of up to $75 million may be generated under the contract. The Company expects that work under the contract will begin in the fourth quarter of 2013.  Full Article

Newpark Resources Inc Announces Two Deepwater Contract Awards
Thursday, 18 Apr 2013 04:05pm EDT 

Newpark Resources Inc 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.  Full Article

Z Trim Holdings Inc Enters Into Joint Development Agreement With Newpark Resources Inc's Newpark Drilling Fluids LLC
Tuesday, 22 Jan 2013 09:00am EST 

Z Trim Holdings Inc announced that it has entered into a joint development agreement with Newpark Drilling Fluids LLC, a subsidiary of Newpark Resources Inc., to develop new, environmentally-friendly drilling fluids that incorporate Z Trim's proprietary industrial materials that could replace the likes of guar and xanthan gums in drilling applications.  Full Article

Newpark Resources Inc Announces Closing Of Acquisition
Monday, 31 Dec 2012 01:22pm EST 

Newpark Resources Inc announced that it has completed the acquisition of all assets and operations of Alliance Drilling Fluids, LLC, a provider of drilling fluids, proppants, and related services headquartered in Midland, Texas. Total cash consideration at closing was approximately $53 million, which was funded through borrowings on Newpark's revolving credit facility. The purchase price is subject to further adjustments, based upon actual working capital conveyed. Additional consideration up to $4.3 million may be payable based on the profitability of the proppant distribution business over the two year period following the acquisition. Alliance recorded revenues of $89 million and operating income of $14 million for the year ended December 31, 2011, of which approximately 50% of revenue and 40% of operating income was attributable to the proppant business.  Full Article

Newpark Resources Inc Announces Agreement To Purchase Substantially All Assets And Operations Of Alliance Drilling Fluids, LLC
Saturday, 29 Dec 2012 10:45am EST 

Newpark Resources Inc announced that it has entered into a definitive agreement to acquire substantially all assets and operations of Alliance Drilling Fluids, LLC , a provider of drilling fluids, proppants, and related services headquartered in Midland, Texas. Under the terms of the agreement, cash consideration at closing is expected to be approximately $53 million. Additional consideration up to $4.3 million may be payable based on the profitability of the proppant business over the two year period following the acquisition. The transaction will be funded through borrowings on Newpark's revolving credit facility and is expected to close on December 31, 2012.  Full Article

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