MicroSeismic, Inc., a geophysical service company providing 3-D passive seismic imaging for both exploration and production of hydrocarbon resources, today announced that its 2007 revenue increased by 231% over 2006. MicroSeismic is the leader in the passive seismic industry, providing services to a diverse domestic and international client base.
"Our excellent full year results reflect the acceptance of passive seismic as a mainstream technology for the oil & gas industry," Dr. Peter M. Duncan, Chief Executive Officer, said. "This was the second consecutive year that we recorded a doubling of revenue. During the year we provided expanded services to both new and recurring customers. We are extremely pleased with our 2007 performance and we believe we are well positioned for continued growth and success in 2008."
MicroSeismic expanded its sales team in the United States, broadening its coverage in its key target market and positioning the company for accelerated revenue growth. The Company also announced the hire of Amy Dwyer, its third new account manager in the last five months. Ms. Dwyer brings to the Company a strong petroleum background having served as a marketing manager for Halliburton. Earlier she held progressive engineering positions for ChevronTexaco and Shell Oil.
In recent months the Company opened a sales office in Denver managed by Caroline Guynn and expanded its Houston sales team having successfully recruited Jason Forks.
The Company previously announced the opening of a Middle Eastern Representative Office in Dubai, United Arab Emirates where it is represented by Dr. Eugene Nosal.
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