EcoStim announces transition agreement for its Argentina operations
ECO-STIM ENERGY SOLUTIONS INC COMMON (ESES)
Last eco-stim energy solutions inc common earnings: 11/14 04:09 pm
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US:NASDAQ Investor Relations:
ecostim-es.com/index.php/en/eco-stim-energy-solutions-announces-launch-of-private-placement-offering/14-english/investors/7-investor-relations
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Source: GlobeNewswire
HOUSTON, TEXAS, June 13, 2018 (GLOBE NEWSWIRE) -- Eco-Stim Energy Solutions, Inc. (NASDAQ: ESES) (“EcoStim” or the “Company”) announced today that it has finalized the terms of the transition agreement with its primary customer in Argentina. The transition agreement became effective in May 2018 and will continue until the earlier of approximately July 31, 2018 or the completion of the committed work under the transition agreement. The Company expects that at the end of the transition period, the former two-year agreement with its primary customer in Argentina will be terminated. The terms of the transition agreement are improvements over the terms of the previous contract. The Company believes the revised terms should allow the Company’s Argentina operations to generate positive cash flow during the transition period. The Company has also entered into negotiations for on-call/spot market contracts with multiple operators in Argentina, including its current customer. About the
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