By Jeff Foster, President & CEO
Joining MicroSeismic (MSI) has been an exciting endeavor. I am passionate about safety, quality and differentiating technology - all of which are imbedded in the MSI culture. My first weeks on the job were spent engaging the different teams in the office and field. The MSI employees are extremely talented with over 60% of our technical team with two or more degrees. More so, the team is laser focused on delivering real time completions evaluation results to our clients using patented workflow processes. The value we create for our customers is so much more than just interpreting discrete fracture networks from events. We are using science to revolutionize the development of unconventional shale to create long term reservoir recovery efficiencies.
While spending time understanding our customers’ needs and the competitive market, I learned an interesting perspective with which I agree. A major service company (and competitor) stated that “MSI is ahead of the pack and considered the thought leader in our space.” Our technology and development teams are building solutions to match our vision – a world in which every frac is monitored. I believe that MSI is pioneering the way to accomplish this vision through our applied research and our consistent goal to develop answers to solve real customer problems.
More recently, when asked why only 5% of the wells are monitored today, a major E&P company stated at an EAGE conference, ”Give me real time, and I will monitor every frac.” By the end of year, MSI will be able to complete multi-well, multi-pad projects in real time and after every stage using our microseismic integrated solutions. These services will provide our customers the answers they need in order to improve their frac designs, treatment and ultimate recovery.
Helping our customers understand what’s really happening when they frac their wells and helping them to improve their EUR through downhole and surface microseismic is a major reason why I joined the MSI team. The team is continually releasing breakthrough technology. The initial days with MSI have been impressive. More to come…