ESP Resources Reenters US Gulf of Mexico With Supply of Petrochemicals on 21
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.
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