Newpark Resources Awarded Two Contracts

Newpark Resources has entered into an agreement with Baker Hughes to provide drilling fluids and related services as part of Baker Hughes’ support of the Greater Enfield project in offshore Western Australia.

Work under the contract is expected to begin in late 2017, and generate total revenues of approximately $20 million over a two-year period. The company also announced that it was awarded a three-year contract with Cairn Oil & Gas to provide drilling and completion fluids, along with associated services, in support of Cairn’s onshore drilling in India. The contract contains an option to extend the term for one additional year, at Cairn’s discretion. Work under this contract is expected to begin in Q3, and generate total revenues of approximately $50 million over the initial three-year term.

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