MicroSeismic, Inc. (MSI) was founded in 2003 with a mission to bring passive seismic technology to the oilfield. Our vision was to apply the technology to issues such as wellbore stability, monitoring of carbon capture (CO2) sequestration, development of enhanced geothermal systems, induced seismicity by disposal wells, hydrocarbon production, and reservoir stimulation. The shale gale that blew in during the mid-2000s overwhelmed us with demand for our services and soon 99% of our business was hydraulic fracture (frac) monitoring.
hrough 2012 we grew to command about 40% of the worldwide frac monitoring market. We both acquire data in the field and analyze those data to provide critical information on wellbore interaction and reservoir stimulation effectiveness. We have monitored more than 50,000 frac stages for more than 200 clients in 18 countries including China, Australia, Argentina, and the UK in addition to North America.
Recently the global priorities have shifted and while frac monitoring is still a business driver, the opportunities are opening for us to revisit our original vision. In 2021 nearly 25% of our revenue was derived from other than frac monitoring. We expect that number to be 40% in 2022 and for that trend to continue. Importantly, the experience of the past nearly 20 years will allow us to perform projects in these other areas of interest efficiently and effectively. Specifically, in the quest for carbon neutrality the technologies for carbon capture utilization and sequestration (CCUS) have pushed to the fore. Monitoring sequestration sites to ensure that the carbon is staying in place falls right in the wheelhouse of MSI’s expertise.
What is CCUS?
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