Eco-Stim Energy Solutions Provides Operational Update

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
136
Eco-Stim Energy Solutions Provides Operational Update

HOUSTON, TX and NEUQUEN CITY, ARGENTINA--(Marketwired - Jun 26, 2017) - Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) ("EcoStim" or the "Company") announced today that it has now completed four wells under its contract in Oklahoma and nearly completed its first full quarter under a two-year contract in Argentina. As a result of the Company's increased utilization in both geographic markets, EcoStim expects its revenue in the second quarter of 2017 to be within a range from $8.4 million to $9.6 million, compared to $2.6 million for first quarter of 2017. Further, management believes that its revenues for June, 2017, the first full month with activity in both of its geographic markets, should exceed $4 million. The Company's well stimulation crew in Argentina is expected to execute over 55 well stimulation stages during the second quarter of 2017, compared to 17 stages in the first quarter of 2017. The Company's well stimulation crew in Oklahoma is expected to execute more than 90 well stimulation stages in the second quarter of 2017, following the start-up of operations in late May, 2017, compared to zero stages in the first quarter of 2017. The Company's turbine powered pumping system has been performing consistent with the Company's operational expectations while being fueled with compressed natural gas. 

The Company's revenues in any fiscal quarter are significantly impacted by its customers' drilling and completion activities, which in turn are significantly dependent on commodity prices. If the Company's customers in Argentina and Oklahoma continue their current drilling and completion activities and the Company's operational performance remains in line with the criteria set forth in its contracts, the Company believes that revenues in the third quarter of 2017 will increase over the second quarter. In Argentina, the Company's expected revenue is supported by a two-year contract that commenced on April 1, 2017 while the expected revenue in Oklahoma is supported by a one-year contract that commenced on May 23, 2017. As previously disclosed, our contract in Argentina has certain take or pay features, while our contract in Oklahoma is an exclusivity contract that provides the Company with the opportunity to service the customer's completion activities in a defined region, but does not restrict the customer from curtailing its drilling plans. 

At the shareholder meeting on June 16, 2017, the Company's shareholders authorized the conversion of our convertible debt into common stock. As a result of that conversion, the Company no longer has any outstanding long-term debt.

J. Chris Boswell, EcoStim's President and Chief Executive Officer commented, "Our 2017 growth has been a tremendous team effort, enabling us to achieve success in both of our markets. I would like to express my thanks to our team in Argentina for their hard work as well as congratulate our team in Oklahoma for a very strong start-up. I am very pleased to report that for the first time since the Company's first well stimulation job was completed in December 2014, we are working under two significant contracts that provide management with enhanced financial and operational visibility. We remain focused on our goal of enhancing our strategic position in both geographical markets through new customer contracts and expansion of capacity."

About Eco-Stim Energy Solutions, Inc. EcoStim is an environmentally focused oilfield service and technology company providing well stimulation and completion services and proprietary field management technologies to oil and gas producers. EcoStim's methodology and technology offer 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 SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. In addition, many of the forward-looking statements in this press release are substantially dependent upon our customers continuing to maintain their current drilling plans, which will depend upon our customers' financial condition, their response to change in commodity prices and other factors that are outside of our control. As referenced above, our contract in Argentina has certain take or pay features, while our customer in Oklahoma is under no obligation to continue to use our services under our contract and has no payment obligations to us in the event that our customer curtails its drilling plans.

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: Jeffrey Freedman Investor Relations investorrelations@ecostim-es.com 281-531-7200

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Debt Crisis Looms: Social Security at Risk

Updated Category News Views 4

Debt Reality: A National Concern with Global Implications When it comes to the U.S. federal debt situation, the latest report from the National Seniors Policy Center is lighting a fire like no other, warning us that we're not crying wolf here. We've got fiscal numbers that may not sit well at breakfast. With roughly 67 cents of every new buck Uncle Sam borrows going to...

Continue Reading
DAHON's Tech: Crafting Folders That Ride Like Road Bikes

Updated Category News Views 4

The Folding Bike Revolution: More Than Just a Fad You've seen them zipping around—those compact, folding bikes. They're not just for urban commuters looking to save space. Oh no, this is a full-blown cycling revolution we're talking about. DAHON, a name that's been rolling since 1982, has been riding these waves and making strides that others can only dream of. While...

Continue Reading
California Accelerates AI Law with Newsom's Bold Move

Updated Category News Views 3

Pushing AI Regulations into High Gear I'll tell you what—it's about time somebody shook things up in the AI world with more than empty promises. Governor Newsom's executive order is doing just that, fast-tracking the timeline for implementing California's SB 813. This move is like giving speed boots to the legislative process, revving up the rules to ensure AI doesn't...

Continue Reading
Portland Craft Chocolate Fest: Oct. Flavor Fiesta

Updated Category News Views 4

If you're a chocolate lover residing in or around the Portland area, you're in for a treat. The Portland Craft Chocolate Festival is back, running from October 2-4. This festival is not just any community event; it's going to be a massive chocolate bonanza featuring over 45 local chocolate artisans, bakers, and confectioners. And let me tell you, this year they’re...

Continue Reading
Mental Health Day Celebrations Set for October in NYC

Updated Category News Views 7

Mental Health Steals the October Spotlight In the bustling streets of New York City, October is about to get a mental health makeover. Project Healthy Minds is putting the pedal to the metal with their fourth annual World Mental Health Day Gala on October 8th, followed by the world’s largest mental health festival on October 10th. These events, held at Spring Studios,...

Continue Reading
FOSSI Opens 2027 Applications for Future STEM Leaders

Updated Category News Views 3

Paving Pathways in the Chemical Industry There's something brewing that's got me eyeing the future with cautious optimism, and it doesn't involve hedge funds or earnings reports. It's the Future of STEM Scholars Initiative (FOSSI) playing its cards just right, planting seeds for tomorrow's innovators. This puppy opened the gates for 2027 applications, and for young brains...

Continue Reading
Kobold Press Explores Roleplaying as Literacy Tool

Updated Category News Views 5

Gaming Illuminates Pathways to Literacy and Community Trust me, when an indie game publisher like Kobold Press makes waves, it's worth paying attention. They've carved a niche in the roleplaying world by marrying traditional game elements with valuable educational tools. The thrill of the game goes beyond rolling dice; it's a ticket to improving literacy, arithmetic, and...

Continue Reading
Buffett Steps Down, New Faces at Berkshire Hathaway

Updated Category News Views 6

End of an Era: Warren Buffett's Retirement Warren Buffett—there's a name that's echoed through the halls of investment for decades. Today, he's pulling down the curtain as Chairman of Berkshire Hathaway (NYSE: BRK). No fanfare, just a nod to the inevitable with his classic, humor-tinged confession: 'Father Time always wins.' Can’t argue with the man who’s seen the...

Continue Reading
Bellissima Bags Allure Award for Curly Hair Tool

Updated Category News Views 4

Award-Winning Tool Headlines 2026 Beauty Scene There's a shake-up in the world of hair tools, folks. Bellissima's Diffon Supreme has snagged a 2026 Allure Best of Beauty Award for its prowess in taming the curly, wavy, and coily strands we all crave to manage. Performance Meets Innovation in Bellissima's Latest Let's not beat around the bush. The Diffon Supreme's trump...

Continue Reading
GenAI Boosts Grades and Tech Savvy for Online Learners

Updated Category News Views 3

What's Really Driving GenAI Use in Online Education? Let's not beat around the bush—most folks think students turn to this newfangled generative AI mainly to smooth over academic hurdles or save time. But guess what? The University of Phoenix has gone and poked some holes in that assumption. Study Highlights Key Insights This solid piece of research from the...

Continue Reading

Top 5 Most Recently Viewed Articles

Greenspoon Marder Welcomes Richard Hess to Estate Planning Team

Updated Category News Views 183

Greenspoon Marder Welcomes Richard Hess to Estate Planning Team Greenspoon Marder is excited to announce the strengthening of its Wills, Trusts, and Estates practice group with the recent addition of Richard Hess as a partner in the firm. With extensive experience in wealth preservation and a dedicated focus on business succession and philanthropic planning, Mr. Hess is...

Continue Reading
Insights on January 2025 Hospital PMI: What to Expect

Updated Category News Views 451

Latest Developments in Hospital PMI for January 2025 Economic activity within the hospital subsector exhibited growth this January, successfully marking the 17th consecutive month of expansion. This upturn follows a brief contraction period experienced twice in the preceding four months, notable given the 35 consecutive months of growth prior to this dip. Insights...

Continue Reading
Narwal's Jaw-Dropping Prime Day Discounts Shake Market

Updated Category News Views 3

Smart Home Cleaning at an All-Time Low Well, pinch me, because Narwal's just dropped a bombshell on smart home aficionados with their Prime Day lineup. This isn't your average sale—it’s a full-scale price drop party, spotlighting everything from their flagship models to entry-level selections. If you’re keen on robot vacuums that think on their feet—or rather,...

Continue Reading
AI Revolution: The Contradictory Landscape of Job Creation

Updated Category News Views 219

Exploring the Impact of AI on the Job Market In today's job market, a curious trend is evident: while corporate profits are reaching new heights and tech companies are posting record earnings, a significant number of high-skilled jobs are disappearing—not due to cheaper labor, but due to advances in artificial intelligence. Corporate Layoffs Linked to AI Recently,...

Continue Reading
Brookline Bancorp's Steady Growth and Future Outlook for 2024

Updated Category News Views 216

Brookline Bancorp Announces Q3 2024 Financial Results Brookline Bancorp, Inc. (NASDAQ: BRKL) has reported its financial performance for the third quarter of 2024, showcasing a net income of $20.1 million and earnings per share of $0.23. The bank has experienced moderate loan growth, alongside a significant increase in customer deposits, all while seeing improvements in...

Continue Reading