ESP Resources, Inc., an oil and gas services company, announced that it has been awarded production chemical work anticipated to be in excess of $2 million in 2013.
The company 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.
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