EcoStim Energy Solutions (ticker: ESES) provides hydraulic fracturing technology using turbine and conventional pumping fleets with advanced fluids, diverter systems and pin-point completion systems.
The company began its initial operation in Argentina with a small spread in 2015. In the United States, the first spread commenced operations in May 2017 and the second spread in October 2017.
The company’s total capacity reached up to 150,000 HHP in December 2017 and the company currently operates in the STACK/SCOOP play in the United States and in Argentina’s Neuquen basin.
EcoStim combined fleet technology offerings
As of December 2017, 27,000 HHP was in use and over 54,000 HHP has differentiated technology to reduce cost and emission. Part of EcoStim’s fleet is capable of running on 100% natural gas, and the company’s machinery offers several fuel source options, such as CNG, LNG and diesel. EcoStim said that its equipment can deliver emissions 65% below EPA Tier 4 requirements.
New chairman appointed
On December 18, 2017 the company’s board of directors appointed Brian Stewart as chairman of the board. Stewart replaces Andrew Teno, who will remain a director of the company.
Stewart previously spent 35 years with Devon Energy Corporation. As Devon’s chief engineer, Stewart responsible for the development and integration of company-wide best practices for horizontal drilling, hydraulic fracturing. and well control. Stewart also served as Devon Energy’s VP of well engineering for the offshore division.
J. Chris Boswell, the company’s president and CEO said, “We are very pleased to have Brian increase his involvement with the company as our new chairman. Brian has excellent experience and relationships and will contribute greatly to the growth, optimization and continued success of EcoStim.”
EnerCom Dallas conference presenter
EcoStim Energy Solutions will be presenting at the EnerCom Dallas investment conference, Feb. 21-22 at the Tower Club in downtown Dallas. Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy space should register now.
