ESP Resources Inks Service Agreement with Black Elk
ESP Resources has signed a master service agreement with Black Elk to provide its product and services to initially a total of 5 platforms containing a total of 46 wells.
Through this agreement, the Company estimates an increase in revenue of 6% on an annualized basis. These preliminary revenue estimates do not include any expanded services with Black Elk Energy's other production wells that ESP Resources may gain as a result of its continued performance.
"This agreement further underscores the unique aspects of the product and services we offer to operators of production wells in the oil and gas industry. There are highly distinctive properties to each of the wells of our clients, and our site specific materials and services have proven to be essential to relationships and agreements like this with Black Elk Energy," stated David Dugas, President of ESP Resources. "Furthermore, we expect that additional testing, as well as our performance on our current service wells with Black Elk Energy will expand our business with them toward a significant number of other production wells in the future," Dugas further stated.