Eco-Stim Energy Solutions Announces Management Transition
July 19 2017 - 6:00AM
Marketwired
Eco-Stim Energy Solutions Announces Management Transition
HOUSTON, TX and NEUQUEN CITY, ARGENTINA-(Marketwired - Jul 19,
2017) - Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) ("EcoStim"
or the "Company") announced today that Barry Ekstrand, the
Company's Senior Vice President of Operations - North America, has
been promoted to Chief Operating Officer effective August 1, 2017.
Barry assumes this new role after helping the Company to
successfully complete the recent start-up of operations in Oklahoma
and after more than 35 successful years of industry experience,
including extensive tenure at Halliburton, Weatherford and Key
Energy Services. Barry's experience in well completions is
extensive, with deep application knowledge of the services and
chemistries used as well the operational efficiencies needed to
remain competitive when times are difficult.
Simultaneously, Bobby Chapman, the Company's current Chief
Operating Officer will be stepping down from that role while
remaining a member of the Company's executive team as Vice
President of Corporate Development and M&A. During Bobby's
tenure as the COO, the Company has successfully completed the start
of operations in Argentina, established a solid reputation in that
market, introduced new technology and started-up another operation
in Oklahoma. EcoStim is pleased that Bobby will continue with the
Company, allowing Mr. Ekstrand and the Company to leverage off his
deep industry experience and relationships.
J. Chris Boswell, EcoStim's President and Chief Executive
Officer commented, "I first want to thank Bobby Chapman for his
leadership in guiding the company from the COO seat over the past
three years. It is a real pleasure to work with Bobby. I feel the
same way about Barry Ekstrand who has shown that he is very capable
of leading the Company's operations, even during the few months
that he has been at EcoStim. He has my full confidence and has
helped Bobby to build an outstanding team in Oklahoma. Barry also
has deep industry relationships that have already resulted in
attracting great talent and new potential customers to the Company.
I look forward to working with Bobby and Barry in their new
roles."
About EcoStim Energy Solutions, Inc.
Eco-Stim Energy Solutions is an environmentally focused oilfield
service and technology Company providing well stimulation and
completion services and field management technologies to oil and
gas producers. EcoStim's methodology and technology offers the
potential in high cost regions to decrease the number of stages
stimulated in shale plays through a process that predicts high
probability production zones while confirming those production
zones using the latest generation down-hole diagnostic tools. In
addition, EcoStim offers its clients completion techniques that can
dramatically reduce horsepower requirements, emissions and surface
footprint. EcoStim seeks to deliver well completion services with
better technology, better ecology and significantly improved
economics for unconventional oil and gas producers worldwide.
Forward-Looking Statements:
The foregoing contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The words "believe," "expect," "anticipate," "plan," "intend,"
"foresee," "should," "would," "could" or other similar expressions
are intended to identify forward-looking statements, which are
generally not historical in nature. All statements, other than
statements of historical facts, included in this press release that
address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future
are forward-looking statements. These statements are based on
certain assumptions made by the Company based on management's
experience, expectations and perception of historical trends,
current conditions, anticipated future developments and other
factors believed to be appropriate.
Forward-looking statements are not guarantees of performance.
Although the Company believes the expectations reflected in its
forward-looking statements are reasonable and are based on
reasonable assumptions, no assurance can be given that these
assumptions are accurate or that any of these expectations will be
achieved (in full or at all) or will prove to have been correct.
For additional information regarding known material factors that
could cause our actual results to differ from our projected
results, please see our filings with the SEC, including our Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K.
Any forward-looking statement speaks only as of the date on
which such statement is made, and the Company undertakes no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by applicable law.
Contact: Jeff Freedman Investor
Relations investorrelations@ecostim-es.com
281-531-7200