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.
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