Latest Geotrace Technologies News
May 22, 2014
May 22, 2014, 11:00am CDT Seismic imaging companies grow in Houston amid shale boom Email | Twitter The domestic shale boom has required more precise drilling techniques, while the offshore oil production keeps going into deeper waters. Mexico also is about to open itself to more onshore and offshore energy exploration. All of this requires more subsea and subsurface imaging in order to drill into the right spots. Houston seismic imaging companies are continuing to grow through the energy boom. Houston-based Geotrace Technologies Inc. CEO Bill Schrom said unconventional drilling has proven a "home run" for the country and the energy companies. "We're on the brink of energy independence," Schrom said. "Everyone wants better subsurface imagining, and that's what our technology plays to. " Got Energy? Sign up for our Energy Inc. newsletter here The idea is that the same technologies and methods will continue to spread more globally as the ripple waves of the energy boom are felt, he said. "The conventional (hydrocarbons) are harder to find and harder to recover," Schrom said. "So they need more high-resolution subsurface imaging. " The imaging technologies have improved similar to the spread of high-definition and three-dimensional televisions in recent years, he said. The improved imaging is needed in hydraulic fracturing, or fracking, to help detect fault lines and underground hazards and structures. "You don't want to frack into a fault. You lose your frack," Schrom said. "It's like burning money. " Schrom said Geotrace has grown about 25 percent in Houston the last couple years. The company has about 70 Houston employees and 220 globally. In recent years, Geotrace has inked more deals with Brazilian, Malaysian and Italian companies, for instance, as well as doing seismic work in Iraq. Page 1
Geotrace Technologies Frequently Asked Questions (FAQ)
When was Geotrace Technologies founded?
Geotrace Technologies was founded in 1979.
Where is Geotrace Technologies's headquarters?
Geotrace Technologies's headquarters is located at 1011 Highway 6 South, Houston.
What is Geotrace Technologies's latest funding round?
Geotrace Technologies's latest funding round is Acquired.
Who are the investors of Geotrace Technologies?
Investors of Geotrace Technologies include Oak Investment Partners.
Who are Geotrace Technologies's competitors?
Competitors of Geotrace Technologies include Gyrodata, MicroSeismic, Pacific Canbriam Energy, ITS - Services Division, Kosmos Energy and 7 more.
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