SCOTT, La., March 10, 2011 (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 today that it has recently begun chemical sales to Continental Resources, Inc. ("Continental") in the Jefferson Island field location in South Louisiana. Based on the success of the Company's initial chemical supply program, ESP Resources is expecting increased chemical sales to Continental in this region as the test program expands.
In addition, Continental has permitted several new drilling locations in the Jefferson Island field area. The additional chemical supply will enhance the operating function of ESP Resources' South Louisiana facility. Continental is the largest oil producer in the Bakken shale trend of North Dakota and Montana and a significant producer in the Woodford shale trend in Oklahoma.
"Continental is developing into a significant customer of ESP Resources. We currently supply a complete line of production chemicals to them in their new field development area in the Jefferson Island field location. Jefferson Island field has been in production in South Louisiana for greater than 50 years and presents new opportunities for both Continental and ESP Resources," stated David Dugas, President of ESP Resources. "We appreciate the continued confidence from Continental in allowing us to test the performance of our technology chemicals on Continental's operated wells located in South Louisiana," Mr. Dugas stated.
About Continental Resources, Inc.:
Continental Resources, based in Enid, OK, is an independent oil and natural gas exploration and production company with operations in the Rocky Mountain, Mid-Continent and South Louisiana regions of the United States with a current market capitalization exceeding $10B. The company focuses its operations in large new and developing plays where horizontal drilling, advanced fracture stimulation and enhanced recovery technologies provide the means to economically develop and produce oil and natural gas reserves from unconventional formations. More information is available on the Continental Resources' Website at www.contres.com.
About www.espchem.com/">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., 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 www.espchem.com.
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.