SOURCE: Microseismic, Inc.
CALGARY, AB--(Marketwire - Mar 21, 2013) - MicroSeismic, Inc. (MicroSeismic) announced today that it has been awarded a contract to install its 40th BuriedArray™ microseismic monitoring program. MicroSeismic will install the array, which will provide microseismic monitoring, mapping and analysis for hydraulic fracturing for Husky Energy, Inc.'s (TSX: HSE) field development program. This will enable them to improve recovery efforts in a variety of reservoir conditions for their wells.
"This is another milestone for MicroSeismic as we celebrate our tenth year in business," said Peter Duncan, Ph.D., Founder and CEO of MicroSeismic. "We were the first to commercialize near surface microseismic acquisition in 2009 with the BuriedArray. The rapid adoption of the solution by customers helps demonstrate its value. It is an excellent solution for companies who want to cost effectively improve field development plans and not extrapolate from single well results. We are pleased to work with Husky to assist them in achieving their production goals."
MicroSeismic's BuriedArray data acquisition service deploys a permanent array of geophone strings installed in the near surface and can monitor areas of more than 500 square miles. BuriedArray monitoring service uses patented PSET® technology to provide results that show how fractures are propagating during the well treatment. In addition, by determining source mechanisms, PSET processing provides a greater understanding of the effectiveness of the stimulation treatment.
The BuriedArray service is ideal for operators who need to monitor multiple wells or require monitoring through the life-of-field. The wide area coverage provides economies of scale. As more wells are monitored under the same array, costs decline dramatically relative to any other microseismic acquisition techniques. The ability to monitor large areas repeatedly with the same equipment leads to more strategic field planning and development and the ability to monitor re-fracs.
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