Newpark Resources Awarded International Contract - Quick Facts

(RTTNews) - Newpark Resources, Inc. (NR) said 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 company noted that 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 about $350 million, covering a term of three years.

Newpark expects work under this contract to ramp-up beginning in the second half of 2015.

Bruce Smith, President of Newpark Drilling Fluids, said, "We are extremely pleased with this recent award, which represents the largest contract award in Newpark's history. Sonatrach has long been a valued customer to Newpark and this contract award further affirms our value as a leading global provider of high-performance fluids systems."