Spectraseis and Calmena Launch Integrated Microseismic Fracture Monitoring Services in Canada

7/30/2012, 5:47 PM (Source: GlobeNewswire)

Spectraseis / Spectraseis and Calmena Launch Integrated Microseismic Fracture Monitoring Services in Canada . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

Combined resources will provide Canadian oil & gas operators with an unparalleled microseismic imaging and advisory capability, using borehole, surface and near-surface frac monitoring arrays and state-of-the-art data processing and imaging

July 30, 2012, CALGARY. Calmena Energy Services Inc. ("Calmena") (TSX:CEZ) and Spectraseis announce agreement to jointly provide microseismic acquisition, imaging and advisory services in Canada.

The agreement combines Calmena's strengths as an experienced downhole microseismic wireline and well services provider with Spectraseis' industry-leading data acquisition and microseismic imaging and interpretation capabilities to deliver seamless fracture imaging and analysis solutions for all types of fracture monitoring using surface, near-surface and deep borehole arrays.

Customers will benefit from the close technical and operating integration of downhole and surface arrays, which is essential to good microseismic monitoring design and efficient operations, as well the accurate, calibrated timing of the datasets for joint interpretation.

The services to be provided jointly by the parties include:

  • Microseismic monitoring with borehole, near-surface, and surface arrays
  • Microseismic data processing, imaging and analysis
  • Well stimulation interpretation and petrophysical integration
  • Microseismic survey design and forward modeling
  • Seismic velocity modeling
  • Real-time fracture monitoring

Microseismic monitoring of well fracture stimulations provides operators the information to optimize the main cost drivers of unconventional reservoir development, particularly well spacing and orientation, and frac design. Real-time monitoring of fracture stimulations provides data for operators to optimize their stimulation program in response to frac behavior.

Spectraseis and Calmena are already working together on several integrated surface and borehole frac monitoring programs for operators in Canada, including a 60-stage frac monitoring program in Northeast British Columbia.

Spectraseis VP Sales and Business Development, Todd Chuckry, said:

"Our goal is to deliver the highest quality and most comprehensive microseismic service to the Canadian market. This combination of our service offerings will allow our customers to address any type of fracture monitoring and imaging challenge with a reliable and efficient single-point solution." 

Calmena VP Wireline Technologies, Vince Kozak, said:

"We believe the combination of our service offerings creates a unique platform for the integration of surface and borehole data acquisition capabilities in the industry, which when also blended with the industry leading data processing capabilities at Spectraseis, will provide our customer with new insight to the  stimulation activities and subsurface dynamics both during, and subsequent to, the fracing process.

About Calmena Energy Services

Calmena is a growth-oriented international oilfield services company, which provides its customers with a wide range of services, including Well Construction Engineering and Planning, Contract Drilling, Directional & Horizontal Drilling, Wireline Technologies, MicroSeismic Surveys, Frac Fluids Management and Equipment Rentals. Calmena's headquarters are in Calgary, Alberta, Canada and has operations in Canada, the United States, Mexico, Latin America, the Middle East, and North Africa.

About Spectraseis

Spectraseis is the technology leader in microseismic fracture monitoring and stimulation evaluation. It provides services to many of the world's leading E&P firms, including a growing customer base among North American unconventional resource operators. Spectraseis provides a competitive advantage to its customers through cutting-edge innovations in surface and borehole passive seismic monitoring, full-wave data processing and imaging. Established in 2004, Spectraseis has offices in Houston, Denver and Calgary. 

###

Product and company names herein may be trademarks of their respective owners.

Contacts

Spectraseis

Todd Chuckry
VP Sales and Business Development
300 5th Avenue SW, Suite 1725
Calgary, Alberta T2P 3C4
(403) 650-8070
todd.chuckry@spectraseis.com

Calmena Energy Services Inc.

Vince Kozak
Vice-President Wireline Technologies
700, 333 - 7th Avenue SW
Calgary, Alberta T2P 2Z1
(403) 225-3879
vkozak@calmena.com

Forward-Looking Statements

This press release contains certain forward-looking statements relating to Calmena and Spectraseis' plans, strategies, objectives, expectations and intentions. Expressions such as "may", "anticipate", "expect", "project", "believe", "hope", "estimate", "intend", "will", "continue", "foresee", and "forecast" and similar expressions and statements are intended to identify forward looking statements. Although Calmena and Spectraseis believe that the expectations reflected in the forward-looking statements are reasonable, they cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Calmena or Spectraseis. In particular, forward-looking statements included in this press release include, but are not limited to, statements with respect to the terms of the agreement between Calmena and Spectraseis; expected benefits to customers from the agreement between Calmena and Spectraseis; services to be provided jointly by the Calmena and Spectraseis; current integrated surface and borehole frac monitoring programs being undertaken by Calmena and Spectraseis; and the goals of Calmena and Spectraseis with respect to providing microseismic services to the Canadian market.

These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Calmena and Spectraseis' control, including, but not limited to, failure to realize the anticipated benefits of Calmena and Spectraseis jointly providing microseismic acquisition, imaging and advisory services in Canada; the impact of general economic conditions; industry conditions and changes in industry conditions; decreased demand for energy services, including microseismic services; competition from other energy services providers; the lack of availability of qualified personnel or management; failure of counter parties to perform on contracts; risks associated with international operations; loss of key customers; fluctuations in foreign exchange or interest rates and stock market volatility; supply and demand for oilfield services; liabilities and risks, including environmental liabilities and risks inherent in oil and natural gas operations; uncertainties in weather and temperature affecting the duration of the service periods and the activities that can be completed; and ability to access sufficient capital from internal and external sources. With respect to forward-looking statements contained in this press release, Calmena and Spectraseis  have made assumptions regarding, but not limited to: the implementation of the agreement between Calmena and Spectraseis and the microseismic acquisition, imaging and advisory services to be jointly provided by the parties; ability to realize the anticipated benefits of the agreement between Calmena and Spectraseis; current commodity prices and royalty regimes; availability of skilled labour; supply and demand for microseismic services; the impact of increasing competition; conditions in general economic and financial markets; industry conditions; and effects of regulation by governmental agencies.

Actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking statements in this press release and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Calmena or Spectraseis will derive therefrom. Readers are cautioned that the foregoing lists of factors are not exhaustive.

These forward-looking statements are made as of the date of this press release and Calmena and Spectraseis disclaim any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.




This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Spectraseis via Thomson Reuters ONE

HUG#1630215

--- End of Message ---

Spectraseis
Giessereistrasse 5 Zurich Switzerland


Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.