Eco-Stim Energy Solutions Signs Contract with Argentina-Based Company

Eco-Stim Energy Solutions, Inc. (NASDAQ:ESES) has signed a contract with a multi-national exploration and production company to conduct a downhole diagnostics evaluation using distributed fiber optic measurements.
According to the press release:

This contract involves the deployment of fiber optic sensors into two unconventional wells and the subsequent recording of acoustic and temperature measurements from each well to better understand the dynamic production characteristics. This data should allow the operator to enhance its understanding of the reservoir, rock properties and production characteristics, and improve the overall efficiency of resource development.
J. Chris Boswell, the company’s Chief Executive Officer, stated: “We are pleased to secure this work and view this operator as a key player in the development of the Vaca Muerta over the next several years. Our technology based on predictive techniques which can be confirmed through advanced diagnostic tools is primarily geared for the unconventional reservoir. The current high cost of completing wells in Argentina make this an ideal market for this type of technology. The information gathered and interpreted from the downhole diagnostics can significantly enhance our customer’s understanding of the reservoir and improve future well performance. We expect to do more of this type of work as the Vaca Muerta field development accelerates and we expect these types of technologies can play an important role in driving efficiency, productivity and reducing completion costs going forward.”

Click here to read the full press release.