Texas oilfield supplier Newpark Resources suffered a ransomware attack that disrupted its information systems and business applications.
Texas oilfield supplier Newpark Resources revealed that a ransomware attack on October 29 disrupted access to some of its information systems and business applications.
The company immediately activated its cybersecurity response plan and launched an investigation into the incident with the help of external experts.
“On October 29, 2024, the Company detected a ransomware cybersecurity incident (“Incident”) in which an unauthorized third party gained access to certain of the Company’s internal information systems. 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.” reads the FORM 8-K filed with Securities and Exchange Commission (SEC).
“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.”
Newpark Resources pointed out that its manufacturing and field operations remain largely unaffected, continuing with established downtime procedures despite the ransomware attack.
The US oilfield supplier Resources has not yet determined the full costs and impacts of the ransomware incident, however they don’t expect it to significantly affect the financial condition or operations. The company will update disclosures if circumstances change.
The company did not share details about the attack either the family of malware that infected its systems. At this time, no ransomware groups claimed responsibility for the security breach.
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