Key Developments: Newpark Resources Inc (NR.N)

NR.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Newpark Resources announces international contract award
Wednesday, 14 Jan 2015 06:00am EST 

Newpark Resources Inc:Says it has been awarded Lot 1 and Lot 3 of a recent restricted tender by Sonatrach to provide drilling fluids and related services in Algeria.Award remains subject to final approval by Sonatrach, and the execution of contract documents.Maximum value of the two lots of this tender is about $350 mln.Work under this contract is expected to ramp-up beginning in the second half of 2015.  Full Article

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

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