SOURCE: Microseismic, Inc.

MicroSeismic, Inc.

February 09, 2016 09:00 ET

MicroSeismic, Inc. Announces Release of PIndex™, DIndex™ and Production Forecast

Quantitative & Predictive Completions Evaluation Services for Early Well Appraisal

HOUSTON, TX--(Marketwired - Feb 9, 2016) - MicroSeismic, Inc. (MicroSeismic), the inventor and leader of surface microseismic monitoring, today announced the release of PIndex, DIndex and Production Forecast -- proprietary completions evaluation services to quantify and predict reservoir drainage and production.

These new services advance completions evaluation for unconventional wells beyond the commonly-used modeling approach to a new observation-based approach. The newly developed analysis methods use observations taken directly from the reservoir, capturing the effects from hydraulic fracturing, providing more accurate, specific estimates of future incremental production and EUR. These services are helping operators better develop entire fields by predicting accurate per-well and per-stage performance just weeks after completion, rather than waiting 6-12 months for production data.

"The new additions to our Completions Evaluation Services offer an alternative to the fracture modeling approach. Instead of assuming typical modeled fractures, MicroSeismic's method uses microseismic observations to extract information about the treated state of the reservoir, revealing the degree of permeability improvement, how productive each stage will be, when and in what pattern the reservoir will be drained, and how much production can be expected over the life of the well," said Sudhendu Kashikar, vice president of completions evaluation, MicroSeismic, Inc.

Using a deterministic workflow, each service starts with defining the PermIndex® of the stimulated reservoir. PermIndex measures the reservoir's permeability enhancement that has resulted from the hydraulic fracturing.

PIndex is an estimate of the well's relative productivity. It shows a direct comparison of well productivity and identifies differences between wells, providing immediate feedback to adjust overall completion strategies.

DIndex quantifies the well's current and future reservoir drainage volume and drainage pattern. The result is a map of future incremental reservoir depletion, showing when drawdown pressures from adjacent wells will interact with each other. DIndex gives operators the control to adjust operating parameters and plan well spacing and production timing based on economic factors, maximizing ROI.

Production Forecast predicts each well's future incremental production and EUR after the well is completed. Because the Production Forecast is based on the post-treatment reservoir, it has been far more accurate than other common statistical methods for predicting production. This helps operators plan entire fields based on observed well performance, before most of the wells have even begun to produce. This early assessment of detailed production gives asset development teams the control to adjust development plans based on financial goals.

MicroSeismic's new service offerings begin the next generation of completions evaluation techniques that are not considered to be models. They are developed from in-situ microseismic data that represent the treated state of the reservoir, unique to each well. Such methods are the alternative to statistical modeling, which has so far dominated the current market but has failed to offer reliable predictions of detailed, stage-specific production. MicroSeismic developed these new services to help clients quickly improve field and completions planning to address the current challenges of today's economic climate.

About MicroSeismic, Inc.
MicroSeismic, Inc. is an oilfield services company providing microseismic-based Completions Evaluation Services in 18 countries. Founded in 2003, MicroSeismic is the leading provider of microseismic monitoring activity utilizing surfacenear-surface, and downhole arrays. MicroSeismic's services allow oil and gas companies to gauge the quality of completions, improve production, and reduce costs in unconventional reservoirs. For more information about MicroSeismic, please visit www.microseismic.com.

MicroSeismic, Inc. trademarks are registered marks in the USA, Canada and other countries.

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