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ROGTEC Magazine - Russian Oil & Gas Technologies - News, Reviews & Articles

Spectraseis Wins $3.6 Million Investment From Credit Suisse

Thursday, August 18th, 2011

New funding for high-sensitivity broadband data acquisition systems for microseismic fracture and fluid mapping, and to expand the company’s state-of-the-art GPU-based computing.

Spectraseis today announced that it has received new investment funding of CHF 2.8 million ($3.6 million) from SVC-Ltd, a fully owned subsidiary of Credit Suisse Group. The investment follows successful deployments of the company’s new Ultra-SenseTM high-sensitivity broadband borehole array and introduction of high speed GPU-based data processing for Time Reverse Imaging (TRI) of surface and borehole microseismic data.

Spectraseis CEO, Ross Newman, said:

We are excited to have SVC’s support for our investment in state-of-the-art passive seismic data acquisition and processing. The funding will allow Spectraseis to deliver to our customers the industry’s most advanced technologies for surface and borehole microseismic fracture monitoring and reservoir fluid mapping. We are seeing strong demand for our solutions in these areas.

SVC Managing Director, Johannes Suter, said:

SVC is pleased to be making an investment in Spectraseis. We see strong growth ahead driven by the company’s unique market position as the clear technology leader in its field. We look forward to continuing to support the Spectraseis management team in their mission to deliver high quality services to their customers worldwide.

Spectraseis’ patented microseismic event imaging and reservoir monitoring techniques help engineers and geoscientists more accurately calculate the effective stimulated reservoir volume (eSRVSM) in their fracturing programs to optimize drilling plans and frac parameters.

By combining surface and borehole array data, ground-breaking microseismic fracture event imaging and fluid system mapping methods, Spectraseis’ time-lapse approach goes several steps beyond current techniques for unconventional reservoir fracture and fluid mapping and monitoring.

Spectraseis has invested over $50 million to develop a suite of advanced technologies and software tools for delivering richer and more accurate microseismic fracture imaging and reservoir fluid mapping services to oil & gas exploration and production companies. Since 2009 the company’s R&D has been supported by an industry consortium of eight major international and national oil companies.

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