Introducing ESPI – Rapidly Growing International Oil Services Company
Introducing ESP Resources (ESPI), a rapidly growing oil services company with activities in the U.S., the Middle East, Latin America and Papua New Guinea.
The company’s primary focus has been on formulating and supplying chemicals to improve yields and overall efficiencies in oil and gas field production. ESP has growing sales through a strong distribution network serving onshore and offshore operations in Louisiana, Texas, Mississippi, Alabama, Arkansas and Oklahoma in the U.S. and Dubai, Papua New Guinea and South America.
Last July the company launched a new Facility and Pipeline Services division to provide operational support to oil drilling companies.
The company reported $11.1 million in sales in 2011 and $14.4 million in sales through the first nine months of 2012. The company said it expected the new Facility and Pipeline Services division to exceed $1.5 million in 2012. A new sales agreement announced in November 2012 to supply petrochemicals to oil service operators in South America was expected to generate $5 in its first 12 months. The company formed a joint venture to perform infrastructure related operational management services to a $15.7 billion liquefied natural gas project headed by Exxon Mobile in Papua New Guinea
Although the company has not issued specific guidance for 2013, revenues could come in at $35 million to $40 million if current growth rates are maintained.
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 http://www.espchem.com.
An investment profile for ESP Resources can be downloaded here.
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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.