Newpark Resources (NYSE: NR, Stock Forum) Monday reported that it has been awarded a contract with the Kuwait Oil Company to provide drilling fluids and related services for land operations, this according to a company news release.
The provider of drilling fluids, temporary worksites and access roads for oilfield, and environmental waste treatment solutions said the agreement has an initial term of up to five years, and subject to the customer's activity levels the company estimates that revenues of up to $75 million may be generated under the contract.
Newpark expects that work will begin in the fourth quarter of 2013.