MicroSeismic Boasts 700% Increase in 1Q Revenue
MicroSeismic has recorded a 700% increase in its first quarter revenues for fiscal year 2010 over the first quarter of 2009.
MicroSeismic, Inc. reported record revenues of $11.3 million for the quarter ending on March 31, 2010. These results exceeded Q4 2009 results, the previous record high. The first quarter has consistently been the lowest revenue quarter each year for the company. MSI had strong growth in both its surface FracStar® and buried array services. With the completion of current buried array projects, MSI will have in excess of 500 square miles of buried arrays in five oil and gas shale fields across the country. MSI has also achieved a record backlog of $19 million dollars at quarter end.
"We are very proud of our record setting first quarter, as it reflects the broad acceptance of our technology," said Peter Duncan, Ph.D., CEO of MicroSeismic, Inc. "We are most pleased by our client's feedback that we are helping them achieve immediately improved results in a cost-effective manner and that they are realizing value with each additional well that we monitor. Our patented processing technology and unique acquisition methods are providing unmatched monitoring results."
- Blockchain Demands Attention in Oil and Gas
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- CNPC Opens Sea-Land Oil Storage and Transport Facility in Bangladesh
- Oman Sees Increasing Ship-to-Ship Transfers of Russian Oil Bound for India
- US Govt Makes Record Investment of $6B for Industrial Decarbonization
- Perenco Still Searching for Missing Person After Platform Incident
- Eni, Fincantieri, RINA Ink Deal on Maritime Decarbonization
- Oil Falls as US Inventories Increase
- Czech Utility CEZ Bucks Weaker Prices, Demand to Log Record Annual Profit
- Ithaca Energy Studies Deal for Eni's UK Upstream Assets
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- UK Grid Operator Receives Aid to Advance Rural Decarbonization
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call