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Chris Boswell stated, "This new name better reflects our Company's preferred stimulation methodology which promotes the use of our proprietary Eco-Stim Field Management System ("EFMS").
HOUSTON, TX, November 04, 2013 /24-7PressRelease/ -- FracRock International, Inc. (FracRock or the Company) announced today that its Board of Directors' have approved the Company's name change from FracRock to Eco-Stim Energy Solutions, Inc. ("Eco-Stim"). The new name will become effective on November 21, 2013 in connection with the Company's previously announced merger.
FracRock's President and CEO Chris Boswell stated, "This new name better reflects our Company's preferred stimulation methodology which promotes the use of our proprietary Eco-Stim Field Management System ("EFMS"). EFMS is based on a suite of new but fully commercialized technologies that can be combined to build confidence in the Geophysical predictive models we provide our clients. Through a combination of our proprietary, cost effective, and extremely efficient Geo-Predict technology, our proposed use of sliding sleeves and our proposed installation of a permanent fiber optic diagnostic monitoring system, we believe it is possible to cost effectively build confidence in the geophysical predictions in a given area.
Once confidence in the Geo-Predict model is achieved, the opportunity to design a targeted well completion plan becomes possible thus allowing for a significant reduction in the number of stimulation stages necessary to achieve the same level of production. This is a primary objective of the Company because it substantially reduces cost, enhances recovery, and significantly diminishes the environmental footprint and impact. "
Eco-Stim Energy Solutions, Inc. ("Eco-Stim") is an environmentally conscious oilfield service and technology company focused on providing the latest well-stimulation and completion techniques to international unconventional markets currently under development. Through the Company's unique tightly bundled service offering, Eco-Stim and its partners will deliver more "ecologically friendly" and economic well-stimulation services which are expected to be in high demand worldwide.
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