Newpark Resources Receives Discharge Permit; Begins Operation of New Treatment Technology at Boulder, Wyoming Facility
METAIRIE, La., May 25, 2005 /PRNewswire-FirstCall via COMTEX/ -- Newpark Resources, Inc. (NYSE: NR) today announced that it has received a permit to discharge treated water for beneficial reuse at its Boulder facility in the Green River Basin of southwest Wyoming. The facility, which Newpark has operated since 2003, processes waste water from the production of natural gas in the Jonah-Pinedale fields. Application of the Armel Activator technology allows the first discharge of processed water for beneficial reuse in this market. This new, proprietary technology facilitates removal of dissolved solids from liquid streams and will begin commercial operation in June.
Newpark CEO Jim Cole commented, "The Boulder installation is the first United States application of this technology. We have initially identified three key markets into which we planned to deploy the technology. The Boulder plant, which will substantially increase our water treatment capacity in this fast-growing natural gas field, was our first priority for the Armel technology. Construction is well underway for a plant to serve a second key market, the dewatering and production of coal bed methane gas reserves in the Powder River Basin, near Gillette, Wyoming. In addition, we plan to test the technology for treatment of water in the oil sands markets of western Canada this summer, as a third and potentially the most lucrative opportunity. We believe the commercial application of this new technology can provide a source of future growth for our Company."
Newpark Resources, Inc. is a provider of drilling fluids, environmental waste treatment solutions, and temporary work sites and access roads for oilfield and other commercial markets.
The foregoing discussion contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. There are risks and uncertainties that could cause future events and results to differ materially from those anticipated by management in the forward-looking statements included in this press release. For further information regarding these and other factors, risks and uncertainties affecting Newpark, we refer you to the risk factors set forth in the Prospectus included in Newpark's Registration Statement on Form S-3 filed on May 8, 2002 (File No. 333-87840), to the section entitled "Forward Looking Statements" on page 17 of that Prospectus and to our periodic reports filed with the Securities and Exchange Commission, including our Report on Form 10-K for the year ended December 31, 2004. In particular, as described on page 9 of that Prospectus, any material decline in the level of oil and gas exploration and production activity could result in fewer opportunities being available for the service industry in general and Newpark in particular, and may adversely affect the demand for our services. In addition, as described on page 13 of that Prospectus, rescission or relaxation of governmental regulations, including in the discharge regulations recently implemented, could reduce the demand for Newpark's services and reduce Newpark's revenues and income. We strongly urge you to review these filings for a more detailed discussion of these risks and uncertainties. Newpark's SEC filings can be obtained at no charge at http://www.sec.gov , as well as through our website http://www.newpark.com .
SOURCE Newpark Resources, Inc.
Matthew W. Hardey, Vice President of Finance of Newpark Resources, Inc., +1-504-838-8222
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