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Newpark Drilling Fluids

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About Newpark Drilling Fluids

Oil field waste is gold for environmental services alchemist Newpark Resources. The company provides integrated environmental and drilling fluid and engineering services to oil and gas drillers. Newpark Resources also supplies prefab work platforms and provides DuraBase brand composite mats used to make  temporary access roads (through its  Newpark – more... Mats & Integrated Services unit), processes and disposes of oil field waste (injecting it underground or recycling it into drilling fluids), and performs fluid processing and recycling on site at rigs. It also processes and disposes of nonhazardous industrial waste.

Geographic Reach

The company serves oil and gas customers in North and South America, Europe, the Middle East, Africa, and the Asia/Pacific region.

Operations

Newpark Resources operates in three segments: Fluids Systems and Engineering, Mats and Integrated Services, and Environmental Services. The Fluids Systems and Engineering business offers customized solutions, including highly technical drilling projects such as horizontal, directional, geologically deep or deep water drilling.

The Mats and Integrated Services segment provides mat rentals, location construction and related well site services to exploration and production customers, providing environmental protection and ensuring all-weather access to sites with unstable soil conditions.

The Environmental Services segment processes and disposes of waste (generated by its oil and gas customers) that is treated as exempt under the Resource Conservation and Recovery Act. Waste is collected at the transfer facilities from drilling and production operations located offshore, onshore and within inland waters, primarily in the US.

Financial Performance

Newpark Resources' revenues increased by 34% in 2011 thanks to a 34% rise in the revenues of the Fluids Systems and Engineering segment as result of 38% increase in North America revenues, a 22% increase in the US rig count, and a 20% increase in the Canadian rig count, along with market share improvements in Canada and several US regions.

Internationally, revenues were up 24% to $213.6 million in 2011. This increase includes $24.6 million of revenues from the Asia/Pacific region following the April 2011 acquisition of Rheochem and a $14.4 million increase in Brazil reveneus, primarily attributable to the continued ramp-up of activity under company's long-term contract with PETROBRAS.

Mat rental and integrated services revenues increased by 59% driven by higher US demand for company's Durabase composite mats, which provide environmental protection and soil stability at drilling sites and also due to stong Durabase composite mat products sales to international E&P customers. Environmental services revenues increased by 0.1%  

Net income increased by 92% in 2011 higher revenues and a decrease in interest expense.

Strategy

Newpark Resources is seeking to grow its international operations (28% of 2011 revenues) as part of its strategy to diversify its risk and participate in faster growing markets. In 2011 Newpark Resources gained a foothold in the Asia/Pacific market, acquiring Australia-based Rheochem PLC's drilling fluids and engineering services business for about $25 million.

In the US the company is growing its drilling fluids portfolio to support the current shale oil and gas drilling boom. In 2012 Newpark Resources acquired Texas-based Alliance Drilling Fluids, LLC, a provider of drilling fluids, proppants, and related services for $53 million. – less

Newpark Drilling Fluids Employer Reviews

Warehouse Employee, Manager, Purchasing Agent (Former Employee), Clinton, OKAugust 21, 2014
Oracle Data Analyst, Project Administrator (Former Employee), Houston, TXJuly 11, 2014
Warehouse Worker (Former Employee), Horseheads, NYAugust 2, 2013
Mud Engineer (Former Employee), Fort Worth, TXMay 10, 2013
Drilling Fluids Engineer (Former Employee), Oklahoma City, OKMarch 26, 2013

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Working at Newpark Drilling Fluids