THE WOODLANDS, TX -- (Marketwired) -- 04/22/13 -- ESP Resources, Inc. (OTCBB: ESPI), an oil and gas services company, announced today that it has been awarded production chemical work anticipated to be in excess of $2 million in 2013.
The company recently completed successful testing for a major oil and gas operator with significant drilling and production operations in the Eagle Ford Shale area in South Texas.
ESP Resources President David Dugas said, "With this successful test, we proved again the superior performance of our production chemicals as we continue to build our customer base. We are working on additional testing of our production chemical product line with other prospective customers and look forward to increasing our chemical sales within the South Texas region."
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. The company reported $11 million in revenue in 2011 and $18.1 million in revenue in 2012.
The company has not provided specific guidance for 2013 revenue, but if current growth rates can be maintained, revenues could be in excess of $30 million. These estimates are subject to change and represent good faith targets, not forecasts of actual results.
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.
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.
Frank N. Hawkins, Jr.
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