ESG Solutions Takes Over Spectraseisto Boost Microseismic Monitoring
DENVER, CO: ESG Solutions expands its global presence and boosts its market opportunities by acquiring Spectraseis. The takeover will be aimed to combine expertise in downhole and surface-based microseismic technology, services and advanced data analytics.
ESG Solutions is apassive seismic monitoring platform with advanced multi-array downhole acquisition and analysis. Under this light, Spectraseis will leverage existing ESG's offering seismic services and seismicity monitoring (ISM) networks. These will be supported by patented methods designed to maximize value from the data and help clients perform their operations in a responsible manner.
What it will do
The merger seeks to provide highest quality, innovative solutions to operators to better understand reservoir behavior, optimize production and enhance stimulation success. It builds a historic database to provide seismicity baseline for operations; collection and analysis of full waveform seismic data including critical shear wave information. This results in greater understanding of reservoir processes, and in turn, maximizes value to clients.
Additionally it quickly responds to local, high magnitude seismic events to relate different operation process and compare and integrate seismic monitoring data with production and injection of data to evaluate any possible connection.
"There are many advantages to this initiative and the leadership team at ESG has a strong interest in developing and investing in Spectraseis's technology and its highly talented workforce. This will provide the opportunity for our organization to accelerate growth and expansion into key international markets, delivering exceptional value to our customers,” says Ken Arnold who will lead the management team of the combined organization.