Eco-Stim Energy Solutions Inc fka ESESQ

[eFinanceMarkets]

$ESES Eco-Stim Energy to expand Oklahoma pressure pumping operations

Eco-Stim Energy (ESES +29%) explodes higher after announcing a one-year agreement, with an option for a second year, with an unnamed U.S. E&P company to expand its pressure pumping operations in Oklahoma.

ESES expects the work to support a second well stimulation crew allowing the company to further expand its footprint in the region.

ESES says the customer expects to complete 2-3 wells per month and is operating two drilling rigs in the region; each well is expected to be completed with ~25 stages and require ~40K HHP.