Newpark Resources Reports Ransomware Attack Disrupting Operations

Newpark Resources faces ransomware attack disrupting operations. The Texas-based provider of drilling fluids and composite matting systems reported a ransomware incident discovered on October 29, leading to limited access to its information systems and business applications. Despite the disruptions, Newpark activated its cybersecurity response plan and continued manufacturing and field operations without interruption. The company believes the attack will not materially impact its financial conditions, although details on the attackers and their methods remain undisclosed. Experts warn that the oil and gas sector is increasingly targeted by ransomware, emphasizing the need for enhanced cybersecurity measures.