HOUSTON, TX, May 15, 2012 (MARKETWIRE via COMTEX) — MicroSeismic, Inc. Founder and CEO Peter Duncan, PhD has been selected as a finalist for the Ernst & Young Entrepreneur Of The Year(R) 2012 program for the Gulf Coast Area. The award recognizes outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.
Duncan has a strong track record of commercializing technologies and building successful businesses. In 1987, he helped Digicon found ExploiTech Inc., an exploration and production consultancy. He was named President of ExploiTech when it became a subsidiary of Landmark Graphics in 1989. In 1992, he was one of three founders of 3DX Technologies Inc., a publicly traded independent oil and gas exploration company where he served as Vice President and Chief Geophysicist. In 2003, Duncan founded MicroSeismic Inc.
Under his leadership, the company has experienced exponential growth with revenues growing 70% yearly over the last three years, and becoming a leader in the industry. MicroSeismic, Inc. is the pioneer in monitoring microseismic activity utilizing surface and near-surface arrays. The company’s patented technology provides real-time information on fracture location and geometry helping operators increase production and recovery while decreasing cost and risk.