Drilling & Completions | Service & Supply | Oilfield Services
Eco-Stim Finalizes Neuquen Basin Completions Deal
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Eco-Stim Energy Solutions, Inc. has finalized the commercial contract related to the letter of intent previously announced on December 19, 2013.
This contract is to provide technology focused well stimulation and completion services to an exploration and production company in the Neuquen province of Argentina. Under the agreement, this customer will utilize EcoStim's well stimulation services for the remainder of its 2014 work program. In addition, the agreement includes the customer's full work program for 2015 and 2016. The work is scheduled to commence in the third quarter of 2014, subject to certain conditions.
EcoStim's President and Chief Executive Officer Chris Boswell stated, "As we discussed in December, this is an excellent opportunity for EcoStim to expand our operations in this rapidly growing market in Neuquen, Argentina. This region of Argentina is now attracting global attention as a result of the promising Vaca Muerta shale play. Recent wells in the Vaca Muerta are showing that the shale resources in Argentina are indeed amongst the best in the world. We look forward to supporting our customer's needs by providing best in class technology, premier equipment and a well trained and experienced operations team."
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