LAFAYETTE, La., May 28, 2014 (GLOBE NEWSWIRE) -- ESP Resources Inc. (ESP) (OTCQB:ESPI), announced today its successful reentry into the U.S. Gulf of Mexico with the implementation of a chemical program for 21 platforms for a Texas-based independent oil and gas company.
ESP completed the survey and testing process earlier this year and is now supplying production chemicals, including water clarifiers, emulsion breakers, scale inhibitors and corrosion inhibitor chemicals to the company. The company has working interests in 121 platforms in the U.S. Gulf of Mexico. Based on the prior five months of filled-orders to the customer, management believes that the expected increase in revenue for ESP could exceed $450,000 annually.
"This new business marks a significant expansion of ESP's operations. We have successfully demonstrated the effectiveness of our products for an offshore market and we anticipate further investment in operations in the U.S. Gulf of Mexico," said David Dugas, CEO of ESP.
By utilizing the chemical program developed by ESP, the operator can expect to see increased production from the capture and separation of additional hydrocarbons from their oil and gas wells. They can also expect to realize a reduction in the per barrel equivalent treatment costs of the produced oil, gas and water products.
About ESP Resources, Inc.
ESP Resources, Inc. is a publicly-traded oil and gas services company headquartered in Lafayette, Louisiana. ESP manufactures, blends, distributes and markets specialty chemicals and analytical services to the oil and gas industry. 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 ESP's Website at www.espchem.com.
Legal Notice Regarding Forward-Looking Statements
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.
Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release. In evaluating these statements, you should consider the risks discussed, from time to time, in the reports we file with the U.S. Securities & Exchange Commission. For a discussion of some of the risks and important factors that could affect the Company's future results and financial condition, see the Company's Form 10-Ks and 10-Qs on file with the U.S. Securities & Exchange Commission.
CONTACT: David Dugas, President ESP Resources, Inc. firstname.lastname@example.org (337) 706-7056Source:ESP Resources, Inc.