ESG Solutions acquires Spectraseis
DENVER, Colorado -- ESG Solutions has confirmed the acquisition of Spectraseis, a provider of 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.
Brad Birkelo, executive V.P., surface and ISM applications, said, "We feel this union is a natural fit, due in part to the strong alignment in culture between ESG and Spectraseis. 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," said 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."
