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TA Associates and Madrone Capital Partners Complete Majority Recapitalization of MicroSeismic, Inc.

Date: 01/11/2011

Company: MicroSeismic

Source: BusinessWire

BOSTON–(BUSINESS WIRE)–TA Associates, a leading growth private equity firm, along with Madrone Capital Partners, a private investment firm, today announced a substantial investment in MicroSeismic, Inc. (MSI), a leading provider of microseismic data acquisition, analysis and interpretation to the global oil and gas industry. Terms of the investment were not disclosed.

Founded in 2003, MSI is the pioneer in monitoring microseismic activity utilizing surface and near-surface arrays. Both the FracStar® and BuriedArray™ data acquisition services eliminate the expense of offset monitoring wells, allow multi-well to field scale evaluations from a single installation, and provide the most comprehensive microseismic-based visualization and interpretation services in the market. MSI’s patented Passive Seismic Emission Tomography (PSET®) technology provides real-time information on fracture location and geometry helping operators increase production and recovery while decreasing cost and risk. The company is headquartered in Houston, Texas, with offices in Denver, Colorado, Calgary, Alberta, Beijing, China and Warsaw, Poland.

“I am extremely pleased to welcome TA Associates and Madrone Capital Partners as new investors in MicroSeismic,” said Dr. Peter Duncan, CEO, MicroSeismic, Inc. “Their confidence in MSI is recognition of the maturing of this company as well as its impact on the industry. Our new partners’ capital and global business connections will allow us to continue to innovate and expand, to serve our current client base more effectively and to take advantage of the growing international demand for our services.”

“MicroSeismic is an exceptional company that is providing groundbreaking solutions to exploration and production operators,” said Hythem El-Nazer, a Principal at TA Associates who will join MicroSeismic’s Board of Directors. “MSI’s superior technology, paired with its experienced management team, has enabled the company to be among the first to provide customers with the data required to accurately, safely and cost-efficiently extract natural gas and oil from unconventional reservoirs. We look forward to working with MSI’s management team to continue to grow the company.”

“MicroSeismic has established itself as a clear technology leader for seismic monitoring and analysis in unconventional shale reservoirs,” said Jamie McJunkin, a General Partner at Madrone. “We believe the company will play an important role in enabling economical, intelligent, and safe development of these tight reservoirs, a vast energy source.”

Read full story at BusinessWire

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