Newpark Resources, Inc. today provided an update on its Gulf Coast operations following its initial assessment of the impact of Hurricane Ike.
The hurricane caused a loss of power and flooding in the Texas and Louisiana Gulf Coast region. The greater Houston area is still experiencing widespread power outages; and as a part of its disaster preparedness plan, Newpark has switched its key information technology systems to its backup disaster center location. Members of the management team without access to power have moved to other Newpark offices located outside of the effected region.
Most Gulf Coast facilities in the Company's Fluids Systems and Engineering segment did not suffer major damage, but many have only recently had power restored, including the barite grinding facility in Houston. Other grinding facilities located in Corpus Christi and Brownsville, Texas had no damage and continue with normal operations. However, the Cameron, Louisiana area was hit hard by a tidal surge; and at this point access is limited, but major damage is expected at that location. In the Mats and Integrated Services segment, the division office in Lafayette, Louisiana was not impacted; had no significant damage to its facilities; and its operations were not interrupted. The Environmental Services business suffered major damage at the Port Arthur, Texas facility, and major damage is expected at the Cameron, Louisiana facility as well.
Paul Howes, President and Chief Executive Officer of Newpark, stated, "We implemented our disaster preparedness plan last Thursday and continue to focus on getting our facilities operating to pre-storm levels. We are especially focused on our barite operations and are optimistic that we will be able to continue to satisfy the needs of our customers."
Newpark Resources, Inc. is a worldwide provider of drilling fluids, temporary worksites and access roads for oilfield and other commercial markets, and environmental waste treatment solutions.
Contacts: James E. Braun, CFO
Newpark Resources, Inc.
281-362-6800
Ken Dennard, Managing Partner
Dennard Rupp Gray & Easterly, LLC
ksdennard@drg-e.com
713-529-6600
Source: Newpark Resources, Inc.
The hurricane caused a loss of power and flooding in the Texas and Louisiana Gulf Coast region. The greater Houston area is still experiencing widespread power outages; and as a part of its disaster preparedness plan, Newpark has switched its key information technology systems to its backup disaster center location. Members of the management team without access to power have moved to other Newpark offices located outside of the effected region.
Most Gulf Coast facilities in the Company's Fluids Systems and Engineering segment did not suffer major damage, but many have only recently had power restored, including the barite grinding facility in Houston. Other grinding facilities located in Corpus Christi and Brownsville, Texas had no damage and continue with normal operations. However, the Cameron, Louisiana area was hit hard by a tidal surge; and at this point access is limited, but major damage is expected at that location. In the Mats and Integrated Services segment, the division office in Lafayette, Louisiana was not impacted; had no significant damage to its facilities; and its operations were not interrupted. The Environmental Services business suffered major damage at the Port Arthur, Texas facility, and major damage is expected at the Cameron, Louisiana facility as well.
Paul Howes, President and Chief Executive Officer of Newpark, stated, "We implemented our disaster preparedness plan last Thursday and continue to focus on getting our facilities operating to pre-storm levels. We are especially focused on our barite operations and are optimistic that we will be able to continue to satisfy the needs of our customers."
Newpark Resources, Inc. is a worldwide provider of drilling fluids, temporary worksites and access roads for oilfield and other commercial markets, and environmental waste treatment solutions.
Contacts: James E. Braun, CFO
Newpark Resources, Inc.
281-362-6800
Ken Dennard, Managing Partner
Dennard Rupp Gray & Easterly, LLC
ksdennard@drg-e.com
713-529-6600
Source: Newpark Resources, Inc.
0 comments:
Post a Comment