Eco-Stim Energy Solutions Strengthens Management Team Industry Veteran Joins Company
HOUSTON, TX -- (Marketwired) -- 03/09/17 -- Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) ("EcoStim" or the "Company") is proud to announce the addition of Barry Ekstrand to its senior management team. Barry will support the company as Senior Vice President of Operations - North America and will be instrumental in establishing a leading pressure pumping platform in the USA.
Barry Ekstrand most recently served as President of New Chemical Technologies for a Houston based portfolio company of an energy focused private equity fund, where he leveraged new and unique chemical processes for improved well economics. Barry joins EcoStim after 35 successful years at Halliburton, Weatherford, Key Energy Services, and CRS Proppants, including building Weatherford's Fracturing Technologies group from a startup in 2003 to a $600+ million business line and one of the industry leaders in pressure pumping services. Throughout his career, Ekstrand has delivered strong business growth around innovative technology solutions and business processes. His experience in well completions is extensive, with deep application knowledge of the services and chemistries used. Barry is a Registered Petroleum Engineer and holds a B.Sc. in Chemical Engineering as well as an MBA from California State University.
Bobby Chapman, EcoStim's Chief Operations Officer, commented, "We are extremely fortunate to find someone like Barry to help build out a first-class operation here in North America, particularly as the Company expands upon its technology platform to drive down cost and improve the environmental footprint. I have worked closely with Barry in the past to build the Weatherford pressure pumping business and he is an exceptional proven leader."
About the Company
Eco-Stim Energy Solutions 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 proprietary methodology and technology offers the potential in high cost regions 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 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.
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.
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.
Source: Eco-Stim Energy Solutions, Inc.
Released March 9, 2017