DENVER, CO--(Marketwire - Oct 31, 2011) - MicroSeismic, Inc. (MicroSeismic) and NSI Technologies, LLC (NSI) announced today that they are collaborating to develop an integrated engineering and software solution of MicroSeismic's BuriedArray™ technology and NSI's 3D fracture modelling tool, StimPlan™. In partnering, the two companies will offer new customized software capabilities along with consulting services for integrating the results of microseismic analysis with engineering data and fracture treatment design.
"MicroSeismic's clients will benefit by being able to apply their microseismic results to an engineer-optimized frac modeling program. This integrated solution will help them make more informed decisions about their completions and development plans resulting in increased production and recovery on a well-by-well, multi-well and life-of-field basis," said Terry Jbeili, EVP of Operations, MicroSeismic.
"We believe this cooperation will provide our customers with a better understanding of the hydraulic fracturing process to optimize their well performance in unconventional resources," said Michael B. Smith, CTO and co-founder of NSI Technologies, LLC.
This advanced solution will combine independent data on the achieved fracture half-length with the accuracy of the Industry's most rigorous, 3D modeling software, StimPlan, therefore enhancing the ability to calibrate fracture models and downhole parameters. This is the first technology to combine geophysical data with fracture engineering.
"The standard unconventional oil and gas development paradigm of 'horizontally drill and frac' will be replaced with 'horizontally drill, design, frac and monitor.' Current assumptions about the effectiveness of frac'ing and hydrocarbon drainage will no longer be assumptions but results that enable increased recovery and identification of unstimulated zones," said Mike Mueller, VP of Analysis, MicroSeismic.
MicroSeismic, Inc. is a global geophysical service company providing real-time monitoring and mapping of hydraulic fracture operations for developing unconventional oil and gas plays. Founded in 2003, MicroSeismic is the pioneer in monitoring microseismic activity utilizing surface and near-surface arrays. MicroSeismic's technology provides real-time information on fracture location and geometry helping operators increase production and recovery while decreasing cost and risk. For more information visit www.microseismic.com.
NSI Technologies, LLC is a global technology company providing software, training and engineering solutions for the design and analysis of well stimulation programs. Founded in 1984, NSI has played a leading role in the development of modern hydraulic fracturing design technology. Through the application of its innovative solutions, NSI helps operators worldwide maximize their well performance while lowering expenditure and reducing their environmental footprint. For more information: visit www.nsitech.com.
Contact Information:
Media Contact:
Kelly Weber
kweber@microseismic.com
713-443-9164