Newpark Resources News

Market volatility for the petroleum sector provides a backdrop to an evolving Merger & Acquisitions environment for the Offshore Sector. In the 3Q edition of Maritime Professional, this series of articles examined the overall evolution of maritime and offshore M&A activity since 2010, tracing the flow of deals in the post-financial crisis era. In this edition, we take a closer look at relevant U.S. offshore energy industry deal flow and market movements as they relate to oil prices over time, and highlight some recent middle market transactions.

Newpark Drilling Fluids, a wholly-owned subsidiary of Newpark Resources, has opened its new world headquarters and laboratory facility in Katy, Texas. Newpark Drilling Fluids President Bruce Smith joined his executive staff in welcoming employees to their new home. The facility is located on 11 acres along Houston’s I-10 energy corridor just off Mason Road. Newpark’s acclaimed research and development laboratory including field services lab occupies 37,000 square feet of the building’s 106,000 square feet total. The lab features Newpark's state-of-the-art downhole drilling simulator and a full range of world-class analytical capabilities.

The Venice Port Complex. The offshore oil and gas industry is no stranger to the southernmost point of Louisiana. For more than a half-century, offshore personnel drove to the community of Venice to board offshore supply vessels or helicopters to make the trip to their jobs atop drilling rigs in the Gulf of Mexico. Now, officials hope to redefine the area’s role in the offshore industry and capitalize on a planned boon in oil and gas drilling and production in the eastern Gulf. The effort consists of a re-branding of the facility and a healthy influx of investment capital for improved infrastructure. Welcome to the Venice Port Complex, much better sounding then the Louisiana Fruit Company site, its previous name relating to the facility’s development and proprietary company.