HOUSTON, TX--(Marketwired - Apr 8, 2014) - MicroSeismic, Inc. (MicroSeismic) announced today that it has signed its first downhole hydraulic fracture monitoring contract in the Permian Basin since acquiring downhole acquisition equipment earlier this year. The project will take place on the heels of similar ongoing projects in other North American basins. The project includes downhole monitoring in conjunction with MicroSeismic's proprietary EventPick processing technology.
EventPick provides an independent evaluation of well stimulation results for projects that are suitable for downhole monitoring. The solution provides operators with fracture geometry and azimuth, discrete fracture network characterization, estimations of stimulated reservoir volume, and recommendations for completions optimization.
Terry Jbeili, COO, MicroSeismic, commented, "Our clients want to better understand how their wells are being completed. MicroSeismic is providing measurement of vertical fracture growth, comparison of different completion designs, and well spacing and stage spacing recommendations. All of these measurements are extremely important in understanding how to develop the vertically stacked unconventional plays within the Permian."
This project is significant for MicroSeismic's customers, as they can now enjoy the Company's Completions Evaluation Services alongside its best-in-class acquisition capabilities. In addition, downhole monitoring can be combined with MicroSeismic's surface acquisition products like FracStar™, BuriedArray™, and patented PSET™ processing to provide the leading technology for combined downhole and surface acquisition.
MicroSeismic, Inc. is an oilfield services company providing microseismic-based completions evaluation services in seventeen countries. Founded in 2003, MicroSeismic is the leading provider of microseismic monitoring activity utilizing surface, near-surface and downhole arrays. The company continually pushes the boundaries of new technology and delivers services that allow oil and gas companies to gauge the quality of their completions, improve production, and reduce costs.
For more information visit: www.microseismic.com
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Contact Information:
Media Contact:
Suzanne Lammers
slammers@microseismic.com
713-457-8832