Market Cap: $704.6 million Newpark Resources ( NR) is an oil and gas exploration and production industry service provider operating in North and South America and in the Mediterranean. The company has four main products and services: drilling fluids, environmental and waste services, industrial mineral services, and mats and integrated services. While the company operates mostly in the upstream rather than the midstream part of the industry, I still believe that it is an excellent investment candidate in the small-cap oil and gas industry. For one thing, the Obama Administration seems to be focused on the environmental aspect of energy production. The company's Newpark Environmental Services unit provides environmental service solutions to upstream production companies. The stock sells for 8.5 times current year's EPS estimates which are expected to grow by 12% in 2012 and 15% in 2013. I have written quite often about taking advantage of companies that sell at a PEG ratio of less than 1 (such as in " 3 Low-PEG, High-Momentum Stocks"). Newpark Resources fits this criterion; as such, I like it as an investment. Newpark shows up on a list of 12 Stocks to Buy for 2012.