Is MicroSeismic Building Value? Market Studies Say Yes.

By Sarah Groen
VP Strategic Marketing

At MicroSeismic, Inc. (MicroSeismic), we truly believe that optimization of hydraulic fracturing on a large scale is key to the growth of our industry. We are passionate about promoting this idea, and all the suppliers in the market helping to achieve it. To do our part, we commit to living by our Core Values: Mastery, Service & Innovation. A focus on these values means better services and technology for the industry and the ability to push towards our vision. To measure our progress against this commitment we recently gathered a wealth of market data and thought we’d share some highlights.

The findings posted here come from three separate studies – the Welling Study on Hydraulic Fracturing & Fracture Mapping, a study commissioned by MicroSeismic and administered by a third party, and a more informal survey of the 65 attendees at our recent MicroSeismic User Forum. The results from all the studies show that microseismic as a technology is gaining more traction in the market place and that MicroSeismic, Inc. as a company continues to improve and excel.

Here are the top 10 highlights:

  1. Most operators now truly believe that microseismic technology can help to improve the effectiveness of completions.survey image2
  2. 93% of User Forum attendees believe the microseismic market is growing. Engineers and small and large independents showed the most optimism.
  3. Despite current commodity prices, 81% of the User Forum attendees plan to monitor between 1 and 15 wells in 2015. Where there’s value, there’s a way!
  4. In all three studies, the market data shows that operators are most interested in learning about frac geometry, SRV, and Productive-SRV® when undertaking a microseismic project.
  5. In the Welling Study, MicroSeismic was rated as #1 in fracture mapping for best real-time capabilities, turnaround time for deliverables, track record, and overall value.  Focusing on our second core value, “Service” means getting the work done right, on time, and with the best service possible for our clients. That hard work is clearly paying off!
  6. MicroSeismic has by far the highest customer satisfaction ratings of any supplier, according to the Welling Report. 78% of respondents ranked MicroSeismic as a 9 or 10 in “likely to recommend,” and no respondents rated the company below a 7 of 10.welling image
  7. In the third party survey on brand recognition and awareness, MicroSeismic was rated as statistically similar in brand awareness with Schlumberger and Halliburton – and as the highest rated independent microseismic provider. MicroSeismic was also rated the leader in surface microseismic by 80% of all respondents.

    blind study

  8. As a company, we pride ourselves on “Mastery” – continually improving, year over year. This year at our User Forum, clients rated our services 6% higher than in 2014 across all three focus areas: Field Operations, Innovative Technology, Analysis & Interpretation.
  9. In the Welling Study, MicroSeismic was shown to have the highest “Penetration Ratio” of any supplier – meaning of those operators that are aware of MicroSeismic, a very high percentage have used our services and continue to come back. If you like our services and technology, help us spread the word by sharing our latest webcast!
  10. Last but not least, we focus on our core value, “Innovation,” every day by listening to our clients and developing technologies they need, and are willing to pay for. In the third party study, MicroSeismic was rated #1 in Technology Innovation amongst all the independent providers.

To learn more about our vision - a world in which every completion is optimized - visit our Completions Evaluation page, watch a recent webcast, or contact me at sgroen@microseismic.com.

Sarah