ESP Resources, Inc. (OTCBB: ESPI), an oil and gas services company, announced that it is increasing the supply of production chemicals to a major operator with significant operations in the Eagle Ford Shale Trend in South Texas. ESP Resources supplied more than $2 million of production and gathering system chemicals to the customer in 2012. ESP Resources now expects to more than double that to over $4 million in 2013.
ESP Resources President David Dugas said, "The growth of this account for ESP is another classic example of how the superior performance of our production chemicals continues to strengthen our relationship with our customers. Our goals are met when the value of our product and service offering earns us more business with them."
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. Contracts announced in February are expected to add over $12.5 million in revenue in 2013. The company reported $11 million in revenue in 2011. Through the first nine months of 2012, the company reported revenues of $14.4 million and expects to announce 2012 financial results on or about March 27th.
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