Newpark Resources, Inc. (NYSE: NR) has 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.
Bruce Smith, President of Newpark Drilling Fluids, stated, “These deepwater contract awards represent significant milestones in our continued penetration of the offshore market and our expanding global presence. Partnering with these two world-class organizations on these offshore drilling campaigns further solidifies our position as a leading global provider of high-performance fluids systems and engineering.”