Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Think4Yourself who wrote (41350)	3/31/1999 1:50:00 PM
From: James Cherney	Read Replies (2) of 95453

K. Lingerfelt///OT....Thanx for the HS turn on...Here's 1 4 U Newpark resources....provides environmental services to oil & gas industry key lines of processing and disposal of waste, mat rental, & drilling fluids...should grow revenue & earnings faster than rig activity...Here's why IMVHO...tighter environmental regs, introducing new line of drilling fluids,and mat rental and soon entering the industrial waste disposal market..this last one (waste disposal) really caught my eye. Oilfield recovery we all expect later in 99 Environmental regs keep gettin tighter causing greater waste volume. US waste volume continues to grow at 20%...only 5% for rig count. Newpark has 60% market share on GOM. Newpark recycles drilling fluid...Competitive edge here in saving drillers money, competition do not recycle. NR fluids revenue has grown from $55MM in 97 to est. $105MM. Fluids mgt reduces driller costs by 20% Mat rental grows by 20% annually for 10yrs despite flat rig count NR market share grown from 20% to 70% in US...Now in five countries New mats last longer but have higher margins. Industrial waste market is new growth area. First revenue in this new market expected mid-year. Valuation 22X 2000 earnings. NR received waste permits in February for start up in 1999. Sorry didn't mean to ramble I'm long 2k HS @ $3.125 Thanx...5k NR $7.25 FWIW PS: Could be aquisition candidate...but then isn't everybody???

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