SCOTT, La., June 28 /PRNewswire-FirstCall/ -- ESP Resources, Inc.(OTC Bulletin Board: ESPI) announces the opening of a District Operation in Longview, TX for the supply, sales and service of Petrochemicals to Oil and Gas companies located in the Northeast Texas, Northwest Louisiana, and Southern Arkansas regions. The new District will be operated by the company's wholly-owned subsidiary, ESP Petrochemicals, Inc. The region is home to the Haynesville Shale formation – one of the most prolific shale gas formations ever discovered.
The new District Operation will operate from an 8000 square foot office/warehouse facility located on the outskirts of Longview, TX. The company has hired Steve Donahoe, who has 25 years of operational and sales experience in the petrochemical industry, to manage the district operation.
Numerous oil and gas companies are currently drilling new gas wells targeting the Haynesville formation, including some of the largest independent oil and gas firms in the U.S.A. The list of companies includes Anadarko Petroleum, Chesapeake Energy, Devon Petroleum, XTO Energy, Petrohawk Energy, Forest Oil Company, EOG Resources and Southwestern Energy. ESP Petrochemicals currently supplies petrochemicals to many of these operators and anticipates increasing sales to the current customer base in the area in the next twelve months.
"With the opening of our Longview, TX facility, ESP is deploying an aggressive sales strategy for the area. Our product line has gained favorable response from oil and gas companies operating in the region. Sales of our petrochemical products in this region have increased greater than 200% during the last six months and we anticipate additional sales increases in the future as acceptance of our petrochemical products gain traction throughout the area serviced by our new District operations," said David Dugas, President of ESP Resources, Inc. "We plan an aggressive expansion of the new District operations for the remainder of 2010 and 2011. Donahoe and his team of experienced sales and service technicians coupled with our superior petrochemical product line will assist ESP Petrochemicals in the deployment of our sales strategy."
About ESP Resources, Inc.
ESP Resources, Inc. is a publicly traded petrochemical company (OTCBB: ESPI) headquartered in Scott, LA. Through its wholly owned subsidiary, ESP Petrochemicals, Inc., ESP is a manufacturer, blender, distributor, and marketer of specialty chemicals and analytical services to the oil and gas industry. ESP 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 11,000 square foot blending and distribution facility, ESP distributes its product line throughout the Gulf Coast region of Louisiana, Texas, Mississippi, and Alabama, 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. www.espresourcescorp.com
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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 the Company's 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 US Securities and Exchange Commission. For a discussion of some of the risks and important factors that could affect the firm's future results and financial condition, see "Risk Factors" in Part I, Item 1A of the firm's Annual Report on Form 10-K for the fiscal year ended December 31, 2009, and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of the firm's Annual Report on Form 10-K for the fiscal year ended December 31, 2009.
SOURCE ESP Resources, Inc.