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.
For more information, visit www.espchem.com
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