Pantera Petroleum has closed its acquisition of ESP Resources, Inc. (ESP). Based in Scott, Louisiana, ESP is a custom formulator, manufacturer, distributor, and marketer of specialty chemicals to the oil and gas industry.

The senior management of ESP has over 100 years of combined operating experience in the petrochemical industry. ESP began operations in the second quarter of 2007 and has increased sales every quarter since inception with revenues for the calendar year 2008 approaching $2 million. The acquisition of ESP creates an integrated exploration, production, and oil field service company.

In conjunction with the acquisition, Pantera also announces that it has changed its name to ESP Resources, Inc. and appointed three additions to its board of directors. The Company has appointed Dave Dugas, current CEO of ESP, as President and director of the Company. Joining Mr. Dugas to the Board will be Tony Primeaux, current President of ESP Petrochemicals, Inc., and William M. Cox.

Tags: Pantera Petroleum