Drilling Fluid Co. Inks $100M Deal To Shed Enviro Biz

Law360, New York (February 12, 2014, 3:00 PM EST) -- Newpark Resources, which makes fluids and equipment for hydrocarbon drilling operations, has signed a definitive agreement to sell its waste disposal business to a Lariat Partners LP portfolio for $100 million, Newpark said Monday.

The company said it wants to focus on its drilling fluids and mats segment, which had a stronger performance recently. Lariat's ECOSERV LLC fund will acquire the environmental services business, which disposes of nontoxic industrial waste and naturally occurring radioactives.

"I am very pleased with the signing of this agreement, which is...
To view the full article, register now.