SOURCE: Eco-Stim Energy Solutions, Inc.

Eco-Stim Energy Solutions, Inc.

May 26, 2016 16:39 ET

Eco-Stim Energy Solutions Awarded New Contract for Well Stimulation and Coiled Tubing Businesses

HOUSTON, TX and NEUQUEN CITY, ARGENTINA--(Marketwired - May 26, 2016) - Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) ("EcoStim" or the "Company") announced today that it has been awarded a new contract with one of the largest and most active privately owned oil and gas operators in Argentina. This contract will cover well stimulation and coiled tubing services in Neuquén for the remainder of 2016, and is expected to provide a base level of work each month in the Neuquén area. J. Chris Boswell, the Company's chief executive officer, explained: "We are very excited to secure this contract for a premier client. With a second crew scheduled to begin operations in Q3, this contract is expected to keep one of our well stimulation crews working for a portion of each month throughout the remainder of the year and complements the contract we secured last month."

Miguel Di Vincenzo, the Company's Vice President of Sales & Technology, stated: "This is a relatively new customer for the Company and we executed the first job for them in April. Our success in obtaining continued work for this client is a testament to the quality of our people and equipment. After only a few well stimulation and coiled tubing jobs, this client has now awarded us this work for the remainder of 2016. I want to wish a big congratulations to our entire team." 

Jorge Robles, the Company's Director of Sales for Argentina added, "Our Company is establishing a strong reputation in this market through excellent field performance. We believe our employees, our technology and our equipment is collectively, amongst the best in the country. As we add our second and third fleets, we expect that we will continue to increase our customer base and benefit as the market recovers from the lower activity levels following last year's elections and the corresponding changes in policy. This contract will help to further establish the operational track record which we believe is necessary to eventually participate in the growing unconventional market and we look forward to positioning our Company to do exactly that later this year or early next year."

About the Company

Eco-Stim Energy Solutions is an environmentally focused oilfield service and technology company providing proprietary field management technologies and well stimulation and completion services to oil and gas producers drilling in the rapidly expanding international unconventional shale markets. EcoStim's proprietary methodology and technology offers the potential to decrease the number of stages stimulated in shale plays through a unique 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, surface footprint and water usage. 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 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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. 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.

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