SCOTT, La., Nov. 18, 2010 (GLOBE NEWSWIRE) -- ESP Resources, Inc. (OTCBB:ESPI) (the "Company" or "ESP Resources"), a manufacturer, blender, distributor, and marketer of specialty chemicals and analytical services to the oil and gas industry, announced the opening of a new district office in Guy, Arkansas for sales and service to the Northern and Central Arkansas and Eastern Oklahoma regions. The regions are home to the Fayetteville Shale on the Arkansas side and the Woodford Shale on the Oklahoma side. These unconventional gas reservoirs can be favorably compared to the Haynesville Shale in Texas and Louisiana, one of the most prolific shale gas formations ever discovered.
The new district office will operate from a 5,500 square foot office and warehouse facility. Managing the operation will be Keven James, who the Company recently hired with over 32 years of operational and sales experience in the production petrochemical industry.
Numerous oil and gas companies are currently drilling new natural gas wells in the Fayetteville and Woodford Shale formations, with over 5,000 wells that have been drilled and completed by some of the largest independent oil and gas firms in the U.S., including Devon Energy, Chesapeake Energy, XTO Energy, Petrohawk Energy, Southwestern Energy, Marathon Oil, Newfield Exploration and Continental Resources. The Company currently supplies petrochemicals to many of these oil and gas companies and anticipates increasing sales to its current customer base in these areas in the next twelve months.
This brings the Company's total number of district offices, including the corporate district office, to four including Scott, LA, Longview, TX, Mission, TX and Guy, AR that currently facilitate the Company's coverage in these major oil and gas producing regions. The Company intends to open more offices in other outlying areas as it expands its products and services to its present and future customers.
"With the level of activity from the large oil and gas firms and the pace with which they are drilling and completing new wells, some at the rate of 50 new wells per month, this additional facility will allow us to deploy our products and services at a faster, more efficient level to capture the growing opportunities in these shale formations," stated David Dugas, President of ESP Resources, Inc. "Our product line is superior and continues to garner favorable response from our oil and gas customers in all of the regions in which we operate," Dugas further stated.
About .:
ESP Resources, Inc. is a publicly-traded petrochemical company (OTCBB:ESPI) headquartered in Scott, LA. Through its wholly owned subsidiary, ESP Petrochemicals, Inc., the Company manufactures, blends, distributes and markets specialty chemicals and analytical services to the oil and gas industry. ESP Resources supplies retail and wholesale specialty chemicals for a variety of oil field applications including production, drilling, waste remediation, cleaning, and waste water treatment. From its blending and distribution facilities, the Company distributes its product line throughout the oil and gas producing regions of Louisiana, Texas, Mississippi, Alabama, Arkansas and Oklahoma, both onshore and offshore. The wholesale division of the Company supplies specialty chemicals to several retailers operating in West Africa. The Company's senior management has over 100 years of combined operating experience in the petrochemical industry. More information is available on the Company's website at .
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: ESP Resources, Inc. David Dugas, President (337) 706-7056 david.dugas@espchem.com