MicroSeismic, Inc. Achieves a 65% Compound Annual Growth Rate Through Mid-Year 2010

Friday, Jul 30, 2010

MicroSeismic, Inc. (MSI) today announced revenue growth at a compound annual rate of 65% over its seven year history. For the first half of 2010, revenues soared nearly six times over 2009’s first half results. Record EBITDA (Earnings Before Interest Depreciation and Amortization) at 25% of revenue was also achieved for the same time period.

“We are extremely pleased to see this level of growth in just one year”

“We are extremely pleased to see this level of growth in just one year,” said Peter Duncan, PhD., MSI Founder and President. “It shows that the industry is quickly realizing the value our unique services and technologies are delivering to their completions and field development programs.”

MSI is currently installing its eighteenth buried array of microseismic sensors. The company has permanently installed nearly 2000 geophones capable of monitoring fracs in an area of over 550 square miles.

MSI is providing microseismic monitoring services in oil/gas reservoirs throughout the U. S. and Canada, including the Haynesville, Eagle Ford, Barnett, Woodford, Bakken, Horn River, Montney and Marcellus shales. The Company is also providing services in other unconventional basins such as the Cotton Valley formation, Delaware Basin and San Juan Basin as well as new unconventional gas projects in Europe.

Source: Business Wire