BUZZ-Newpark Resources up on sale of fluids systems segment

Reuters09-14

** Shares of oil-related services provider Newpark Resources

rise 3.9% to $7.40 in extended trading

** Company says completed sale of fluids systems segment to private equity firm SCF Partners

** Base sale price of fluids systems segment business is $127.5 mln; company received total net sale consideration of $56 mln from the transaction

** Company intends to use the net proceeds for organic investments, inorganic growth, and share buybacks

** Post sale, the segment will be reclassified and reported as discontinued operations for all periods reported

** Up to last close, stock had risen 7.2% YTD

(Reporting by Harshita Mary Varghese in Bengaluru)

((HarshitaMary.Varghese@thomsonreuters.com))

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