A Texas-based supplier for the oilfield industry, Newpark Resources, reported a ransomware attack that disrupted several of its information systems. The company disclosed in a regulatory filing on Thursday that the attack, discovered on October 29, affected systems supporting business operations, including financial and operating reporting systems. Despite these disruptions, Newpark Resources stated that its manufacturing and field operations continued with established downtime procedures.
Newpark Resources, which provides drilling tools for oilfields and other energy sectors like pipelines, renewables, petrochemicals, and construction, has yet to estimate the financial impact of the incident. The company assured that it does not anticipate any material effect on its financial condition or operational results. In an earnings report on Thursday, the Woodlands-based company announced quarterly revenue exceeding $44 million, with an annual projection reaching $223 million.
No hacking group has claimed responsibility for the attack. The oil and gas industry has become a frequent target for ransomware attacks, as the sector’s global importance often leads companies to pay ransoms. Major industry players like Shell, Halliburton, Colonial Pipeline, Encino, Oiltanking, and Mabanaft have all faced ransomware incidents in recent years. These repeated attacks have driven the federal government to push for stricter cybersecurity mandates for critical infrastructure.
Newpark’s response highlights the industry’s vulnerability to cyber threats and underscores the ongoing importance of robust cybersecurity measures within the oil and gas sector.
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