Spectraseis, a technology leader in microseismic fracture monitoring and stimulation evaluation, today announced the achievement of important technical and commercial milestones, which have positioned the company for exceptional growth in 2012. These include the successful delivery of fracture monitoring results with the companys new high-sensitivity, three-component (3-C) surface and borehole microseismic arrays in the US and Canadaa and Spectraseis 70th patent filing.
Spectraseis reported the successful completion of multiple fracture monitoring surveys in the fourth quarter of 2011 and the first quarter of 2012 using its new UltraSense(TM) microseismic recording arrays and elastic wave equation imaging techniques. The monitoring programs, covering five North America plays including the Montney, Wolfcamp, and Woodford, encompassed both surface and borehole data acquisition and proved the importance of full-wave recordings. Spectraseis’ analysis of the monitoring data delivered a number of advances in microseismic technology applications.
In addition, Spectrasies reported a strong backlog of monitoring projects and a high utilization of equipment projected through Q4 2012, including a recently awarded $4 million surface survey for a major North American customer, the company’s third contract with this customer.
Spectraseis plans to double the size of its equipment fleet in 2012 and has added high-sensitivity shallow borehole arrays in response to customer demand for sub-surface monitoring arrays that do not require the drilling of a deep observation well.
In addition, Spectraseis announced the filing of its 70th patent application covering key geosciences technologies for microseismic fracture monitoring, stimulation evaluation and reservoir fluid system monitoring.
In response to the high demand for the company’s technology and services, Spectraseis has appointed the energy specialist investment bank Simmons & Company International (SCIL) to advise on strategic options to position the company for continued strong growth.
Spectraseis was founded in Zurich and awarded with the CTI Start-up Label in 2003.
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