Source: E&P Magazine
Drilling and completions expert, Jeff Foster, will head up microseismic service provider.
In an industry that is almost creating itself from scratch, the company that commercialized surface microseismic technology has taken the next logical step. Microseismic Inc. (MSI) was founded in Peter Duncan’s spare bedroom back in 2003. Since then Duncan has molded the company into one of the foremost providers of microseismic services, particularly in completions evaluation and hydraulic fracture monitoring.
What was a nascent technology only five years ago is now on solid ground, and it is with that confidence that the company has announced the appointment of Jeff Foster to the position of president and CEO. Passing the reins from a founder with a Ph.D. in geophysics to a business leader with a drilling and completions background seems the next logical step in the company’s growth strategy.
“We as a board were of a mind that we needed to bring in an experienced businessman who could look strategically at the position of the company and come up with some new ideas on how to take it forward,” Duncan said. “We were also looking for an engineer because microseismic is becoming more of an engineering tool. We wanted someone with completions expertise, so we took time to find exactly the right person. That’s what I believe we’ve found in Jeff.”