EcoStim Energy Solutions Appoints New Chairman
December 18 2017 - 4:03PM
Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) ("EcoStim" or the
"Company") announced today that the Company’s Board of Directors
has appointed Brian Stewart as Chairman of the Board. Mr.
Stewart replaces Andrew Teno who will remain a Director of the
Company. The Board believes that Mr. Stewart is uniquely
qualified for this position based on his extensive industry
experience and can work closely with the management team to
continue building the Company into a premier service
provider. Mr. Stewart has deep relationships on the E&P
side, including spending 35 years with Devon Energy Corporation.
During his tenure at Devon, Mr. Stewart served in a variety
of leadership capacities, including as Devon’s Chief Engineer
responsible for the development and integration of company-wide
best practices for horizontal drilling, hydraulic fracturing, and
well control, and as Devon’s Vice President of Well Engineering for
the Offshore Division. Following his retirement from Devon,
Mr. Stewart served as President and Chief Executive Officer of U.S.
Well Services (USWS) a provider of fracturing services until
2016. In this capacity, Brian helped to grow USWS to nine
fleets, including pioneering two fully electric “Clean Fleets”
powered by natural gas fueled turbine generators.
J. Chris Boswell, the Company’s President and Chief Executive
Officer stated, "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." Andrew Teno, the Company’s former Chairman, who
will remain a Director, stated, “Fir Tree remains fully committed
to the growth of the Company and believes in engaging the most
qualified individuals to contribute relevant experience. We
are excited to continue working side by side with Brian in growing
the business.”
About the Company
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 drilling in the US and international unconventional
shale markets. In addition to conventional pumping equipment,
EcoStim offers its clients completion techniques that can
dramatically reduce horsepower requirements, emissions and surface
footprint.
Forward-Looking Statements
Certain statements and information in this press release
constitute “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” “offer to” 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 is
preparing for, plans, 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.
Our forward-looking statements involve significant risks and
uncertainties (some of which are beyond our control) and
assumptions that could cause actual results to differ materially
from our historical experience and our present expectations or
projections.
For additional information regarding known material factors that
could cause our actual results to differ materially from our
projected results, please see our filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Investors should carefully consider the risk factors included in
our filings, and should keep in mind the cautionary statements in
this press release and in our filings.
Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date hereof.
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:
Jeffrey Freedman, Investor Relations
investorrelations@ecostim-es.com
281-531-7200