HOUSTON – March 25, 2010 – MicroSeismic, Inc. (MSI), a leading geophysical service company providing 3-D passive seismic imaging for energy exploration and production, today announced that it has won the E&P Magazine 2010 Hart Meritorious Award for Engineering Excellence.
MSI was honored by E&P Magazine for its patented PSET® processing technology and FracStar™ surface array in the Stimulation Category. The magazine will recognize MSI and the other winners of its 2010 Hart Meritorious Award for Engineering Excellence during the opening day of the Offshore Technology Conference at Reliant Park in Houston May 3, 2010.
“We are very proud to win the 2010 Hart Meritorious Award for Engineering Excellence and for the recognition of our exceptional technology,” said Peter Duncan, Ph.D., CEO of MicroSeismic, Inc. “Our patented processing technology and unique acquisition methods differentiate our company in the marketplace by providing unmatched capabilities, resolution, accuracy and value. As result of broad market acceptance MSI expects to report a 700% increase in revenues for the first quarter over the first quarter of 2009.”
The development of PSET, Passive Seismic Emission Technology, processing has allowed two forms of implementations that have both been rapidly accepted by the market. The first is FracStar monitoring, where 10,000 or more surface geophones are used to record microseismic data. FracStar monitoring is typically used to monitor a single well or a cluster of wells in areas where the more traditional “downhole” method of monitoring is not commercially or technically viable. The second form of PSET implementation is Buried Arrays, where 100 or more high sensitivity geophones are each buried hundreds of feet and evenly distributed over an area of 25 square miles or more.
About MicroSeismic, Inc.
MicroSeismic, Inc. is the leading provider of passive seismic and microseismic data acquisition, analysis and interpretation to the global oil & gas industry. MicroSeismic’s technology and services enable E&P operators to better manage their reservoirs, increase their production rates and decrease their completion costs and risks. The company is based in Houston, Texas with offices in Denver, Colorado and Calgary, Alberta. For more information visit: www.microseismic.com.