SOURCE: Microseismic, Inc.

MicroSeismic, Inc.

November 30, 2011 09:00 ET

Whiting Petroleum Awards $5.7 Million Hydraulic Fracture Monitoring Contract to MicroSeismic, Inc.

HOUSTON, TX--(Marketwire - Nov 30, 2011) - MicroSeismic, Inc. announced today that it has been awarded a $5.7M contract by Whiting Petroleum Corporation for microseismic monitoring of their hydraulic fracturing operations in the Williston Basin. The contract includes monitoring of all Bakken and Three Forks wells over a 157 square mile area in Sanish Field, North Dakota.

MicroSeismic has previously monitored 148 wells over 18 months for Whiting using their trademarked BuriedArray data acquisition service. This new contract will include monitoring an additional 100 wells in 2012. The contract was awarded based on past performance with MicroSeismic's technology that provided information Whiting used to optimize well planning resulting in enhanced production and recovery.

"We're delighted to continue our relationship with Whiting Petroleum," said Bill Coates, President and CEO, MicroSeismic. "Our BuriedArray monitoring service is rapidly being adopted by our clients as they realize the value of monitoring an entire field as it develops."

MicroSeismic's BuriedArray service has proven to be successful in monitoring hundreds of wells over large geographical areas with a single installation. Full-field monitoring allows operators to track variability over time. As a result, completions parameters and field development plans can be modified to ensure optimum production over the life of the field.

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.

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