With the deployment of our sixth unit, we have not only boosted our fracking revenues and increased our 12-month forecast, but we have also increased our ability to capitalize on new business from some of our major oil & gas customers.
Scottsdale, AZ (PRWEB) January 08, 2012
QualityStocks would like to highlight ESP Resources, Inc., a publicly traded oil and gas services company offering analytical services and essential custom-blended oil and gas well chemicals which improve production yields and overall efficiencies. Through its wholly owned subsidiary, ESP Petrochemicals, Inc., the company distributes its product line throughout the oil and gas producing regions of Louisiana, Texas, Mississippi, Alabama, Arkansas and Oklahoma. The company also distributes internationally though oil and gas service companies in other prolific oil and gas well regions throughout the world.
In the company’s recent news,
ESP Resources, Inc. announced the deployment of its sixth chemical delivery fracking (hydraulic fracturing) unit and provided an update on continued revenue growth from its chemical delivery units.
Revenue from ESP’s fracking units business started in June of 2011 and the company says revenues are on track to exceed management’s original September 2011 estimates of $9.0 million in 2012. Fracking unit revenue is in addition to the company’s existing petrochemical production business.
The company expects continued growth based on new business with major existing customers and solid work flow.
“With the deployment of our sixth unit, we have not only boosted our fracking revenues and increased our 12-month forecast, but we have also increased our ability to capitalize on new business from some of our major oil & gas customers. We are pleased that this business segment is seeing healthy growth and expect this trend to continue. Given the amount of well completion work available now and that is anticipated going forward, we believe that we can maintain a continuous stream of deployment of these units on a long-term basis,” David Dugas, CEO of ESP stated in the press release.
ESP’s Guy, Arkansas, office is favorably located in the middle of the Fayetteville Shale in Northern Arkansas formation trend where the company can easily and economically supply the chemical units to any of the 21 counties where drilling activity is currently ongoing. ESP anticipates that current units will be used in the completion of wells in the Fayetteville Shale.
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This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
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