Ransomware Attack Causes Limited Disruptions for Texas-Based Newpark Resources
On October 29, 2024, Newpark Resources, an oilfield equipment supplier headquartered in The Woodlands, Texas, experienced a ransomware attack that disrupted access to certain internal information systems, including financial and operating reporting applications. Despite these challenges, the company maintained its manufacturing and field operations by implementing established downtime procedures. Newpark has initiated an investigation with external cybersecurity experts and activated its response protocols to contain the threat. While the full financial impact is still under assessment, the company anticipates that the incident will not materially affect its financial performance.
This incident follows a similar ransomware attack on Halliburton, another Texas-based oilfield services company, in August 2024. Halliburton reported unauthorized access to its systems, resulting in data exfiltration and disruptions to business applications. The company collaborated with law enforcement and cybersecurity experts to investigate and recover from the incident. These attacks underscore the persistent cybersecurity challenges facing the oil and gas industry, which remains a frequent target for ransomware operations due to its critical role in global energy infrastructure.