Eco-Stim Energy Solutions Inc. (ticker: ESES), an oilfield service company focused on providing support to oil and gas operators while simultaneously reducing its environmental impact, has had a growth spurt in the past few months.
A variety of services
Eco-Stim offers pressure pumping services—which encompasses workover, injection, cased-hole testing, among other services—and coiled tubing services. In addition to the company’s stimulation and completion services, it offers field management solutions in the form of geophysical prediction tools—to help its clients optimize completions strategies—and fiber optic monitoring—to verify wellbore cement integrity, and quality assurance in stimulation and production operations.
Reducing impact with natural gas pumps
The company’s claim to fame and the inspiration behind its name is its utilization of natural-gas powered pumping units. Eco-Stim has made an effort to employ pumping technology that reduces emissions by approximately 65% by utilizing natural gas, CNG, or LNG. The system is also capable of using diesel if natural gas is not available.
Where Eco-Stim works
The company is headquartered in Houston, but built the first of its operations in Argentina. There Eco-Stim has played a role in tapping the world’s 3rd largest shale resource basin, the Vaca Muerta shale. In the Vaca Muerta, Eco-Stim has 22,500 HHP of pumping capability.
Breaking out of its Argentina operations, Eco-Stim began new operations in Oklahoma with Midstates Petroleum Company (ticker: MPO) on May 23rd. There it utilized its compressed-natural gas powered pumping units to complete its first horizontal well in the area—finishing completions operations on May 26th. This signaled the first of many operations for Midstates Petroleum in the United States under Eco-Stim’s one-year contract with Midstates.
The company announced a second one-year contract in Oklahoma in late July, allowing Eco-Stim to add a second well-stimulation crew and expand its regional presence. The company that Eco-Stim has signed the contract with expects that it will need Eco-Stim to complete two to three wells per month, utilizing approximately 40,000 HHP of pumping capability.
Between 2015 and now, the company has increased its pumping capacity from approximately 10,000 HHP to 100,000 HHP.
Eco-Stim Energy Solutions Inc. is presenting at EnerCom’s The Oil & Gas Conference® 22
Eco-Stim will be a presenting company at the upcoming EnerCom conference in Denver, Colorado—The Oil & Gas Conference® 22.
The conference is EnerCom’s 22nd Denver-based oil and gas focused investor conference, bringing together publicly traded E&Ps and oilfield service and technology companies with institutional investors. The conference will be at the Denver Downtown Westin Hotel, August 13-17, 2017. To register for The Oil & Gas Conference® 22 please visit the conference website.
