Denver, Colorado (October 15, 2015) – ESG Solutions ("ESG"), a leading supplier of microseismic monitoring technology and analysis solutions to customers in the oil and gas and mining sectors, has confirmed today the acquisition of Spectraseis, an industry leader in surface-based seismic technology and services for hydraulic fracture monitoring ("HFM") and induced seismicity monitoring ("ISM"), through its parent organization, Spectris plc. Spectraseis will be integrated into ESG, and will result in a combined expertise in downhole and surface-based microseismic technology, services and advanced data analysis that is unique to the marketplace.
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 has experienced tremendous growth in recent years fueled primarily through its FRACMAP®, HYBRID™ and SMTI Production Suite™ offerings. Complementing ESG's existing offerings, Spectraseis's surface-based seismic services and ISM networks are supported by an array of patented methods designed to maximize value from the data and help clients perform their operations in a responsible manner.
"We feel this union is a natural fit, due in part to the strong alignment in culture between ESG and Spectraseis," says Brad Birkelo, EVP Surface and ISM Applications. "Both companies seek to provide highest quality, innovative solutions to operators who rely on microseismic to better understand reservoir behavior, optimize production and enhance stimulation success." In particular, the companies share a focus on collection and analysis of full waveform seismic data including critical shear wave information, which results in greater understanding of reservoir processes, and in turn, maximizes value to clients.
"This is a strategic move for ESG," says Ken Arnold who will lead the management team of the combined organization. "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."
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.
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 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.