Newpark Resources Closes Acquisition

November 20 2017

Newpark Resources, Inc. has completed the previously-declared acquisition of substantially all of the assets, operations, and employees of the Well Service Group Inc., and its affiliate Utility Access Solutions Inc. Total consideration funded at closing was $77 million, which includes approximately $2 million associated with an increase in estimated working capital conveyed at closing. The total consideration consists of $45 million of cash and $32 million (3.4 million shares) of common equity of Newpark Resources, Inc. The purchase price is subject to further adjustments, based upon actual working capital conveyed upon closing.

Newpark Resources, Inc. is a worldwide provider of value-added drilling fluids systems and composite matting systems used in oilfield and other commercial markets.

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