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December 30, 2012
14:19 EDTNRNewpark Resources to purchase Alliance Drilling Fluids
Newpark Resources announced that it has entered into a definitive agreement to acquire substantially all assets and operations of Alliance Drilling Fluids, 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 $53M, subject to typical adjustments for actual working capital conveyed. Additional consideration up to $4.3M may be payable based on the profitability of the proppant business over the two year period following the acquisition. Alliance recorded revenues of $89M and operating income of $14M for the year ended December 31, 2011, of which approximately 50% of revenue and 40% of operating income was attributable to the proppant business. The transaction will be funded through borrowings on Newpark's revolving credit facility and is expected to close on December 31.
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January 14, 2015
06:03 EDTNRNewpark Resources announces $350M international contract award
Newpark Resources announced that 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. The award remains subject to final approval by Sonatrach, and the execution of contract documents. The maximum value of the two lots of this tender is approximately $350M, covering a term of three years. Work under this contract is expected to ramp-up beginning in the second half of 2015.

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