Newpark gets $100 million revolver

By Sara Rosenberg

New York, Jan. 3 - Newpark Resources Inc. closed on a new $100 million revolving credit facility due June 25, 2011, according to a company news release.

JPMorgan acted as the lead bank on the deal.

There is a $30 million accordion feature.

The new facility replaces the company's previous $70 million revolver.

"This new revolving credit facility gives us the liquidity and flexibility to capitalize on the robust drilling market and pursue opportunities in our businesses, both domestically and internationally, over the next several years," said Paul Howes, president and chief executive officer, in the release.

Newpark is a Metairie, La.-based provider of drilling fluids, environmental waste treatment solutions, and temporary worksites and access roads for oilfield and other commercial markets.

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