Newpark Mats & Integrated Services to purchase SEM Construction
Tuesday, 14 August 2007
Newpark Resources Announces Agreement to Purchase Well Site Construction Company
Tuesday August 14, 6:00 am ET
THE WOODLANDS, Texas, Aug. 14 /PRNewswire-FirstCall/ -- Newpark Resources, Inc. (NYSE: NR - News) today announced the signing of an asset purchase agreement with SEM Construction Company ("SEM"), headquartered in Grand Junction, Colorado.
Under the terms of the agreement, Newpark Resources is to acquire substantially all of the assets and operations of SEM for cash consideration of $21.3 million, subject to working capital and other adjustments. SEM is a full-service well site construction company engaged in construction, reclamation, maintenance, and general rig work at drilling locations for the oil and gas industry throughout Western Colorado. SEM recorded revenues of $14.3 million for the 12 months ending June 30, 2007. The acquisition is expected to be accretive to Newpark Resources, Inc. earnings in 2007.
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AEP Transmission Line Upgrade Keeps in Tune with Wildlife Preserve
Thursday, 31 May 2007
AEP Transmission Line Upgrade Keeps in Tune with Wildlife Preserve
Bird mating and road matting compatible activities in Corpus Christi
In 1998, Flint Hills Resources set aside the 130-acre Wildlife Learning Preserve, certified by the Wildlife Habitat Council to protect and enhance the wetlands and wildlife habitat area. Local groups of students and adults utilize the area for education and training in principles of wetland ecology and wildlife habitat management. The Wildlife Preserve is situated among 650 acres of undeveloped buffer land east of the Flint Hills Facility. –Flint Hills Resources website
Just yards from the movement of heavy machinery, wetland noises emerge from the preserve. Plovers, killdeer and black-necked stilts whistle and call. We’re still standing on the mat road that we walked on to get here but are now surrounded by nearly pristine wetlands. A levee looms over our shoulders to the east and salt flats pepper the low areas to the north and west amid ponds, upland brush and grasses. Its hard to imagine that just days before, a 70 ton crane crawled through here attended by crews to install 17 new transmission poles, restring cable and restore power to the 138 Kv lines.
