SOURCE: Microseismic, Inc.
HOUSTON, TX--(Marketwired - May 20, 2013) - MicroSeismic, Inc. (MicroSeismic) was named an Energy Industry Disruptor on the inaugural CNBC Disruptor 50 List on Friday during Fast Money. Other companies on the Energy list include LightSail Energy, Nest Labs, Opower and Picarro.
CNBC set out to define "disruption" and what that meant to various industries. They focused on factors such as significant potential to replace incumbents, continuous innovation, the likelihood of "hypergrowth," the ability to scale quickly, the introduction of a new business model that applies across industries and meeting a business need in a cheaper, easier, simpler way that is reliable, repeatable and scalable. With this definition they spoke with top venture capital firms, analysts, CNBC beat reporters and start-up investors to collect names of private, venture-backed companies. CNBC assembled a list of over 200 companies and eventually developed a list of the top five disruptors in ten industries.
Each company was asked to define disruption. Peter Duncan, Ph.D., CEO and Founder, MicroSeismic stated, "Disruption is making more possible by doing the impossible." No one believed it was possible for MicroSeismic's PSET seismic imaging technology to detect the energy release equivalent of a human heartbeat through 10,000 feet of rock. The now proven technique has opened new ways for Oil and Gas companies to improve their oil recovery which previously was not possible. As a result, MicroSeismic has become the leading provider of surface fracture monitoring services, displacing the legacy providers.
"Being a part of the CNBC Disruptor 50 List with these other remarkable companies is an exciting moment for MicroSeismic," stated Peter Duncan, Ph.D. "All the milestones we have achieved this year during our 10th anniversary are made even more distinctive by being a part of this prestigious list. The monitoring technologies we have developed provide accurate and detailed information that cannot be collected through the legacy approach to monitoring. We will continue to improve our monitoring technology and its value proposition until monitoring fracs is as common as logging a well."
To view CNBC's segment on Energy Disruptors go to http://www.cnbc.com/id/100727195.
MicroSeismic, Inc. is an oilfield services company providing real-time monitoring and mapping of hydraulic fracture operations in unconventional oil and gas plays in twelve countries and every major shale play in North America. Founded in 2003, MicroSeismic is the pioneer in monitoring microseismic activity utilizing surface, near-surface and downhole 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
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