MicroSeismic Inc has bought the U.S.-based assets of Reservoir Imaging Inc, a provider of microseismic and borehole seismic data acquisition and processing services based in Calgary. The acquisition, the price of which was not published, includes geospace equipment, wireline units, and equipment for downhole microseismic data acquisition services. Founded in 2003, MicroSeismic is an oilfield services company providing completions evaluation services and real-time monitoring and mapping of hydraulic fracture operations. The Houston-based company is a portfolio investment of U.S. private equity firm TA Associates, which in 2011 partnered with Madrone Capital Partners in the majority recapitalization of MicroSeismic.
MicroSeismic Acquires Downhole Monitoring Equipment From Reservoir Imaging Inc.
HOUSTON, TEXAS – January 23, 2014: MicroSeismic, Inc. (MicroSeismic) announced today that it has purchased the US assets of Reservoir Imaging Inc. (RII). The acquisition includes Geospace equipment, wireline units, and equipment for downhole microseismic data acquisition services.
“I am pleased to announce the sale of our US downhole equipment to MicroSeismic and to continue to build the relationship we have forged with them,” said Earl Hale, CEO of RII. “This allows us to focus on our microseismic operations in Canada as well as our Borehole VSP business across North America and internationally.”
The new downhole acquisition capabilities are complemented by MicroSeismic’s high quality downhole EventPick™ processing technology and can be used on a standalone basis or in conjunction with MicroSeismic’s industry leading surface microseismic products and services. This combination enables MicroSeismic to offer a full suite of completions evaluation services to its customers, allowing them to optimize production through an understanding of the discrete fracture network, estimates of stimulated reservoir volume, and fracture geometry and azimuth.
“This acquisition is a perfect complement to our current services. We will take our expertise as the leader in surface microseismic monitoring and apply it to become the technical leader in downhole services,” stated Terry Jbeili, Chief Operating Officer for MicroSeismic. “This added value will provide our clients the same high quality, reliable results they have come to expect from MicroSeismic.”
Reservoir Monitoring Inc. is an oilfield services company providing real-time and post-acquisition evaluation of hydraulic fracture operations utilizing downhole technologies. In addition to microseismic monitoring, Reservoir Imaging has extensive expertise in acquiring large complex Borehole Seismic (BHS) surveys (3D VSP’s) across North America and globally. Reservoir Imaging was founded in 2005 and continues to be a leading innovator in both microseismic and borehole seismic data acquisition and processing services.
MicroSeismic, Inc. is an oilfield services company providing completions evaluation services in 17 countries. Founded in 2003, MicroSeismic is the leading provider of microseismic monitoring activity utilizing surface, near-surface, and downhole arrays. The company continually pushes the boundaries of new technology and delivers services that allow oil and gas companies to gauge the quality of their completions, improve production, and reduce costs.
For more information, visit www.microseismic.com.
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Photo courtesy of MicroSeismic Inc