Service & Supply | Oilfield Services | Frac Markets - Pressure Pumping

Eco-Stim Expanding Argentinean Pressure Pumping Fleet

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   |    Thursday,October 16,2014

Eco-Stim Energy Solutions, Inc. reported that its pressure pumping fleet and coiled tubing equipment are being transported to the Company's base in Neuquen City, Argentina. The equipment is expected to arrive in three days and will be readied for service in conjunction with the company's multi-year contract.

Carlos Fernandez, one of the founders of the Company and the Company's Senior Executive Vice President of Business Development, stated, "We are very excited to have our equipment on the way to the province of Neuquen and are anxious to begin work under our contract with a well-respected local operator. The equipment arrived in Buenos Aires in late August and as a result of an extraordinary team effort, all documentation was in order and the importation application was processed and approved in a reasonable period of time despite the country's very rigid rules and processes regarding equipment importation. EcoStim is investing heavily in the province of Neuquen and is also working with local companies to manufacture additional equipment."

Neuquen's Governor Jorge Sapag commented, "The province of Neuquen is happy that as a result of the promotional efforts made by Gas y Petroleo del Neuquen during the last 5 years, young entrepreneurial companies such as EcoStim have come to the region. The Vaca Muerta shale formation is a world class resource and will require capital, technology and hard work to fully develop. EcoStim is investing in this region, hiring and training local people, bringing new equipment and leading edge technologies to support the growth of our energy production."

J. Chris Boswell, EcoStim's President and CEO stated, "This is a major milestone for the Company, and we are excited to get our equipment into Neuquen, which is home to one of the world's most exciting shale basins. I can't say enough about the teamwork demonstrated on this effort. This achievement is a tribute to our entire team, and we are very excited for the future."