ESP Resources Increases Sales to Major Operator in Eagle Ford Shale Trend
March 7, 2013 - The Woodlands, TX
ESP Resources, Inc. (OTCBB: ESPI), an oil and gas services company, announced today that it is increasing the supply of production chemicals to a major operator with significant operations in the Eagle Ford Shale Trend in South Texas. ESP Resources supplied more than $2 million of production and gathering system chemicals to the customer in 2012. ESP Resources now expects to more than double that to over $4 million in 2013.
ESP Resources President David Dugas said, "The growth of this account for ESP is another classic example of how the superior performance of our production chemicals continues to strengthen our relationship with our customers. Our goals are met when the value of our product and service offering earns us more business with them."
Based on forecasted market demand for oil and gas reserves worldwide and the company's unique position, ESP Resources is expecting substantial ongoing growth in the U.S. and abroad. Contracts announced in February are expected to add over $12.5 million in revenue in 2013. The company reported $11 million in revenue in 2011. Through the first nine months of 2012, the company reported revenues of $14.4 million and expects to announce 2012 financial results on or about March 27th.
About ESP Resources, Inc.
ESP Resources, Inc. is a publicly traded oil and gas services company (OTCBB: ESPI) headquartered in The Woodlands, Texas. Through its subsidiaries, the Company manufactures, blends, distributes and markets specialty chemicals and analytical services to the oil and gas industry and also provides services for the upstream, midstream and downstream sectors of the energy industry, including new construction, major modifications to operational support for onshore and offshore production, gathering, refining facilities and pipelines designed to optimize performance and increase operators' return on investment. The Company's senior management has over 100 years of combined operating experience in the oil and gas services industry. More information is available on the Company's Website at www.espchem.com.
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This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions or that events or conditions "will," "would," "may," "can," "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and actual results could differ materially from those in such forward-looking statements.
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ESP Resources, Inc.