Drilling equipment provider Newpark Resources hit by a ransomware attack

Newpark Resources, a Texas-based drilling equipment provider to the oilfields sector, said it experienced a major cyber attack that forced it to take certain systems offline to minimise damage to systems.

 

In a filing with the U.S. Securities and Exchange Commission (SEC), Newpark Resources said that on October 29, it identified suspicious activity in its internal network and determined that an unauthorised third party had gained access to certain parts of its internal network.

 

Newpark said it immediately launched an investigation, with assistance from external cyber security experts, to determine the nature and scope of the incident. The investigation revealed that the company had suffered a ransomware attack.

 

“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,” Newpark said.

 

“The incident has caused disruptions and limitation of access to certain of the Company’s information systems and business applications supporting aspects of the Company’s operations and corporate functions, including financial and operating reporting systems,” it added.

 

The company has, however, clarified that its “manufacturing and field operations have continued in all material respects utilizing established downtime procedures.”

 

“The full scope of the costs and related impacts of the Incident, including any future impact on our financial condition and results of operations, has not yet been determined.

 

“Based on the Company’s current knowledge of the facts and circumstances related to this incident, the Company believes that this incident is not reasonably likely to materially impact the Company’s financial conditions or results of operations. Should any of the relevant facts and circumstances substantively change, the Company will make any required disclosures,” Newpark Resources added.

 

The company is yet to provide details on who is behind the ransomware attack or whether it has received a ransom demand. Also, as of now, no known hacker group has claimed responsibility for the cyber attack on the drilling equipment manufacturer.