Newpark will operate from the Lafayette location for the immediate future. The address and phone number for the temporary corporate headquarters are:
Newpark Resources, Inc. 207 Town Center Parkway Lafayette, LA 70506-7524 Phone: 337-984-4445 Fax: 337-988-4516
Newpark's facilities most impacted by Hurricane Katrina included its major deepwater service facilities in Port Fourchon and bases in Venice, Louisiana. The Port Fourchon facilities were not significantly damaged and are in the process of restarting operations. Newpark's Venice facilities sustained minor damage, but will remain closed indefinitely due to the level of support infrastructure damage in that immediate area. Newpark is making arrangements to service its Venice-based customers from other dock facilities in the region. Newpark is insured for any losses resulting from damage or business interruption.
While Newpark sustained minimal direct damage to its facilities from the hurricane, the Company expects to experience some decrease in demand for its services in that region until industry activity recovers to pre-storm levels.
Mr. James Cole, Newpark's CEO, said: "Our Texas Gulf Coast operations were unaffected by Katrina, and we believe that Louisiana Gulf Coast operations will rebound to about 80% of pre-storm levels by the end of September. The remainder of the recovery will come more slowly, and will track the restoration of industry infrastructure damaged by the storm. We are working together with our industry and our community to return our business operations and personal lives to normal in the aftermath of this devastating storm. We appreciate the support of our friends and business associates in this effort."
Newpark Resources, Inc. provides drilling fluids, environmental waste treatment solutions, and temporary work sites and access roads for oilfield and other commercial markets.
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