HOUSTON, TX--(Marketwired - Jul 15, 2014) - MicroSeismic, Inc. (MicroSeismic) announced today that it has been awarded a large contract for hydraulic fracture monitoring services for RSP Permian (RSP) (NYSE: RSPP). MicroSeismic will provide its integrated analysis and leading technology for combined acquisition services of surface and downhole in the Midland Basin.
"RSP has a strong focus on maximizing returns for its shareholders," said Zane W. Arrott, RSP's Chief Operating Officer. "The combined Downhole and surface FracStar™ technology from MicroSeismic will help us keep vertical containment in our stacked plays, determine optimal well spacing, and better understand the geology in which we're operating -- all factors that will allow us to enhance production."
By combining MicroSeismic's patented FracStar™ technology with its Downhole & EventPick™ technology, RSP will achieve detailed event locations and a map of the Magnitude Calibrated Discrete Fracture Network (M-DFN), which cannot be calculated using a single Downhole monitor well.
Terry Jbeili, COO, MicroSeismic said, "We are fortunate and very pleased to work with an innovative operator like RSP Permian. MicroSeismic's combined monitoring services will allow RSP to improve production by identifying where and how the rock is breaking, and how fracturing operations can be optimized. This will allow RSP to build a better constrained and comprehensive event set and apply the results to subsequent wells in the area."
RSP Permian, Inc. is an independent oil and natural gas company focused on the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The vast majority of RSP's acreage is located on large, contiguous acreage blocks in the core of the Midland Basin, primarily in the adjacent counties of Midland, Martin Andrews, Dawson, and Ector. For more information, visit www.rsppermian.com.
MicroSeismic, Inc. is an oilfield services company providing microseismic-based Completions Evaluation Services in eighteen countries. Founded in 2003, MicroSeismic is the leading provider of microseismic monitoring activity utilizing surface, near-surface and downhole arrays. The company continually pushes the boundaries of new technology and delivers services that allow oil and gas companies to gauge the quality of completions, improve production, and reduce costs.
For more information visit: www.microseismic.com
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