ESG Solutions Announces the Acquisition of Denver Based Spectraseis
DENVER - Spectraseis, an industry leader in surface-based seismic technology and services for hydraulic fracture monitoring ("HFM") and induced seismicity monitoring ("ISM"), has confirmed today that the ownership of Spectraseis will transfer to Spectris plc where it will be integrated with ESG Solutions ("ESG"), a leading supplier of microseismic monitoring technology and analysis solutions to customers in the oil and gas and mining sectors. The integration of Spectraseis into ESG results in combined expertise in downhole and surface-based microseismic technology, services and advanced data analysis that is unique to the marketplace.
Spectraseis's surface-based microseismic and induced seismicity monitoring solutions provide high quality, full waveform information for reservoir characterization, helping operators better understand reservoir behavior for increased reservoir success. Its offerings are supported by a suite of patented methods and proprietary software and workflows designed to maximize value from the data.
"This is a strategic move for Spectraseis," says Brad Birkelo, who leads the management team at Spectraseis. "In ESG we have found an incredible partner and I couldn't imagine a better pairing for the hydraulic fracture monitoring market. The support from Spectris and ESG combined with our tremendous employees will allow us the ability to further expand both our offering and customer base."
Over its 22 year history, ESG has been at the forefront of innovation in passive seismic monitoring solutions. Specializing in advanced multi-array downhole acquisition and analysis, ESG also offers comprehensive hydraulic fracture mapping services through its FRACMAP® and HYBRID™ offerings.
The business will benefit from the investment and global network that will come as being part of ESG and the Spectris organization as it looks to achieve faster growth. Headquartered and listed in the UK, the parent organization, Spectris, has annual revenues of approximately £1.2 billion and employs over 8,000 people in more than 30 countries.
About Spectraseis:
Spectraseis is a leader in surface-based microseismic sensing technology for hydraulic fracture monitoring ("HFM"), stimulation evaluation and induced seismicity monitoring ("ISM"). It provides services to many of the world's leading oil and gas exploration and production firms, including a growing customer base among North American unconventional resource operators. Established in 2004, Spectraseis is privately owned and has offices in Houston, Denver and Calgary. For more information on Spectraseis visit www.spectraseis.com.
About ESG Solutions:
Founded in 1993, ESG Solutions (Engineering Seismology Group or ESG) is a pioneer and leading provider of innovative microseismic solutions for the mining, oil and gas and geotechnical industries. ESG helps operators improve safety, optimize production, reduce costs and mitigate risk associated with underground and open-pit mining, hydraulic fracturing, thermal enhanced oil recovery, waste-water injections, natural gas storage, carbon sequestration and geotechnical applications. ESG is headquartered in Kingston (Canada), with operations in Calgary, Houston, Muscat, Beijing and Perth and sales offices in Dallas and Dubai. For more information, visit www.esgsolutions.com.
About Spectris plc:
Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The Company's products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage and reduce time to market. Its global customer base spans a diverse range of end user markets. Spectris operates across four business segments which reflect the applications and industries it serves: Materials Analysis, Test and Measurement, In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, United Kingdom, the Company employs over 8,000 people with offices in more than 30 countries. For more information, visit www.spectris.com.
Contacts:
Brad Birkelo (Spectraseis) 303-652-9170
Ken Arnold (ESG) 613-548-8287 ext. 283
SOURCE ESG Solutions
Web Site: http://www.esgsolutions.com
