Newpark Resources Provides Operational And Financial Update
Newpark Resources, Inc. (NR)
Last newpark resources, inc. earnings: 2/6 04:15 pm
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US:NYSE Investor Relations:
investor.newpark.com
Company Research
Source: PR Newswire
THE WOODLANDS, Texas, April 8, 2020 /PRNewswire/ -- Newpark Resources, Inc. (NYSE: NR) ("Newpark" or the "Company") today provided an operational and financial update and announced actions the Company has taken in response to the ongoing COVID-19 situation and the recent drop in oil and gas prices. Paul Howes, Newpark's President and Chief Executive Officer, stated, "Our immediate focus remains on the health and safety of our employees, their families, and the communities where we live and work, while diligently supporting our customers' global operations. However, the significant pullback in U.S. customer drilling plans requires us to take swift actions to right size our business for the new market reality, including reducing operating expenses and capital expenditures to help ensure continued free cash flow generation." The following specific actions taken to-date have focused primarily on operations supporting the deteriorating U.S. land oil and gas market:The implementation of co
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