HOUSTON, Jan. 31, 2014 /CNW/ - ESG Solutions, an industry leader in microseismic technology and services, announced today that it has achieved record growth in sales in excess of 65% over the last fiscal year. Fueling this growth is ESG's FRACMAP® and Hybrid™ offerings. FRACMAP® delivers comprehensive downhole and surface-based microseismic data acquisition, processing and analysis services for hydraulic fracturing operations, helping oil and gas operators improve production by providing feedback on where and how hydraulic fractures develop underground. ESG's patented Hybrid™ deployments combine induced seismicity monitoring (ISM) with microseismic to accurately evaluate large and small-scale seismicity in one comprehensive system.
"Not only will we post our best-ever fiscal year results as a company, but we have made significant investments in innovative product and service development for the microseismic industry in all areas of our business, which includes Mining and Petroleum applications," says Ken Arnold, Chief Executive Officer at ESG. "Moving forward, we project continued growth in market share based on ESG's reputation as technology leader and backed by our unparalleled 20+ years of microseismic experience. ESG's performance is testimony to outstanding service levels to our global client base from an exceptionally talented and dedicated team at ESG."
In response to this growth and in anticipation of continued accelerated growth moving forward, the company has also expanded its US operations, doubling the size of its operations and office space with a new centralized facility in Houston.
ESG attributes its success in part to expanding relationships with existing customers and securing projects with new customers. Demand from ESG's clients was focused on:
- ESG's innovative Whip-array™ deployment of downhole monitoring operations, for improved detection ranges and microseismic event location accuracy.
- The introduction of ESG's patented Hybrid™ integrated downhole and near-surface solution, combining microseismic and induced seismicity monitoring (ISM) for full range signal detection from -4 to +4 in event magnitude.
- Increased application of patent-pending advanced microseismic analysis services using ESG's SMTI Production Suite™ for improved understanding of reservoir processes.
- Broadened scope of use for ESG's innovative SuperCable™ retrievable long-term deployment strategy across a range of applications including hydraulic fracturing, enhanced oil recovery (EOR), water inflow management, solution mining, geothermal and underground storage.
"ESG has always been at the forefront of advancements in microseismic technology and processing and we will continue to make significant investments in analytical and product R&D to ensure that our clients receive the highest quality and most technologically advanced solution in the industry," says Dr. Ted Urbancic, Executive Vice President of Global Energy Services at ESG.
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 oil and gas, mining and geotechnical industries. ESG is headquartered in Kingston (Canada), with operations in Calgary, Houston, Muscat and Beijing and sales offices in Dubai, Dallas and Amsterdam.
For more information, please visit our website: www.esgsolutions.com.
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SOURCE: ESG Solutions
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