HOUSTON, TX--(Marketwire - Feb 12, 2013) - MicroSeismic, Inc. (MicroSeismic) celebrated its ten-year anniversary on January 22 -- a significant milestone for the company which commercialized passive seismic monitoring. The past ten years has seen the company expand to over 300 employees in four locations and become the industry-recognized leader in surface and near-surface passive seismic monitoring.
MicroSeismic was the first company in North America to commercially process surface microseismic data using its proprietary Passive Seismic Emission Technology (PSET®) in 2004. By 2005, it introduced the first commercially deployable surface microseismic product, FracStar®. MicroSeismic developed and installed the first commercial buried surface microseismic product, BuriedArray™ in 2008, and now has nearly 2,000 sq km of coverage under dozens of arrays. In 2012, the company installed the first BuriedArray™ outside of North America and released its fourth generation processing software, PSET® 4.0.
"It is rewarding to look back on our accomplishments over the last decade and take stock. When we started the company, surface microseismic was an unproven technology, but today, it is offered by numerous vendors, validating its market acceptance," stated Peter Duncan, Ph.D., Founder and CEO of MicroSeismic. "As trailblazers in surface microseismic we look forward to another decade of more innovations."
Over the past ten years, the company expanded its headquarters in Houston and opened new offices in Denver, Calgary, and Pittsburg. MicroSeismic has also been awarded several patents for its technology. These include methods in:
- Seismic emission tomography
- Passive seismic emission tomography using adaptive velocity filter
- Imaging the earth's subsurface using passive seismic sensing
- Passive seismic emission tomography including polarization correction for source mechanism
- Imaging the earth's subsurface using passive seismic interferometry and adaptive velocity filtering
"MicroSeismic is just getting started," stated Terry Jbeili, COO for MicroSeismic. "We will continue to focus on delivering the highest quality results to our customers while maintaining the fastest turnaround time in the industry. Ten years ago the concept of real-time monitoring of a frac from the surface was unthinkable-today this is routine. The application of microseismic monitoring is becoming more integral to our customers' completions optimization programs, heralding a strong future for MicroSeismic with many more successes ahead."
MicroSeismic awards and recognitions include:
- Peter Duncan, Ph.D. named 2008 Fall AAPG-SEG Distinguished Lecturer
- Ranked 13 in technology companies on the "Fast Tech 50" list by the Houston Business Journal
- Named to the Houston "Fast Tech 50" list by the Houston Business Journal
- Peter Duncan, Ph.D. invited to speak at CERA Week 2010 in the Energy Innovations Pioneers Session
- New Technology Magazine's award for Best Exploration Technology
- E&P Magazine's Hart Meritorious Award for Engineering Excellence
- Houston Business Journals Enterprise Champion Award
- Ranked 24 on the "Fast Tech 50" list by the Houston Business Journal
- World Oil - Innovative Thinker Award Nominee - Peter Duncan, Ph.D
- Ranked 7 on the "Fast Tech 50" list by the Houston Business Journal
- World Oil's Innovator of the Year award in 2012
- Ernst & Young nomination for Entrepreneur of the Year for Energy Gulf Coast
- Inc. 5000 Fast Growing Companies in US 2012 -- ranked 36 in energy industry and 20 in Houston
- Ranked 6 in the energy industry for Inc.'s 2012 Hire Power Awards
MicroSeismic, Inc. is an oilfield services company providing real-time monitoring and mapping of hydraulic fracture operations in unconventional oil and gas plays in nine countries and every major shale play in North America. Founded in 2003, MicroSeismic is the pioneer in monitoring microseismic activity utilizing surface and near-surface arrays. The company helps oil and gas companies understand how the reservoir responds to stimulation and its impact on customer economics.
For more information visit: www.microseismic.com