Texas Oilfield system supplier Newpark Resources hit by ransomware

Newpark Resources, a supplier of fluid systems and industrial solutions to the oil and gas industry, disclosed a ransomware incident that caused disruptions.

In a filing with the US Securities and Exchange Commission, the company said it detected a ransomware cybersecurity incident on October 29, 2024. An unauthorized third party gained access to internal information systems.

“Upon detection, the Company activated its cybersecurity response plan and launched an investigation internally with the support of external advisors to assess and to contain the threat,” the Newpark’s statement reads.

The full scope of the incident has yet to be determined. The cyberattack has disrupted Newpark’s computer systems and affected some business and financial reporting operations. However, the company assures that its manufacturing and field operations have continued in all material respects utilizing established downtime procedures.

Newpark believes that, based on current knowledge and circumstances, the incident “is not reasonably likely to materially impact the Company's financial conditions or results of operations.”

No ransomware gang tracked by Cybernews Ransomlooker has added Newpark to its victim sites on the dark web.

Founded in Texas, Newpark has a market capitalization of $658 million.