Spectraseis wins $3.6 million investment from Credit Suisse

Geosciences firm Spectraseis has received new investment funding of US $3.6 million from SVC-Ltd., a fully-owned subsidiary of Credit Suisse Group. The investment follows successful deployment of the company’s new Ultra-Sense high-sensitivity broadband borehole array and introduction of high-speed, GPU-based data processing for Time Reverse Imaging (TRI) of surface and borehole microseismic data.

Ross Newman, CEO of Spectraseis, said, “We are excited to have SVC’s support for our investment in state-of-the-art passive seismic data acquisition and processing. The funding will allow Spectraseis to deliver to our customers the industry’s most advanced technologies for surface and borehole microseismic fracture monitoring and reservoir fluid mapping. We are seeing strong demand for our solutions in these areas.”

Spectraseis’s patented microseismic event imaging and reservoir monitoring techniques help engineers and geoscientists calculate the effective stimulated reservoir volume (eSRV) in their fracturing programs to optimize drilling plans and frac parameters.

By combining surface and borehole array data, microseismic fracture event imaging, and fluid system mapping methods, Spectraseis’s time-lapse approach is an important new technique for unconventional reservoir fracture and fluid mapping and monitoring.

Spectraseis has invested more than $50 million to date to develop a suite of advanced technologies and software tools for delivering richer and more accurate microseismic fracture imaging and reservoir fluid mapping services to oil and gas exploration and production companies. Since 2009, the company’s research and development has been supported by an industry consortium of eight major international and national oil companies.

Established in Switzerland in 2003, Spectraseis has offices in Houston, Denver, Calgary, and Zurich.

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