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Spectraseis Stage: Venture Date of Investment: 2007 Web Site : http://www.spectraseis.com
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Spectraseis is the principal technology and service provider in the fast-emerging field of low frequency passive seismic geophysical surveys to help oil and gas companies more efficiently find hydrocarbon reserves. Customers include major national and international oil companies around the world. Spectraseis researches and applies proprietary technologies, on land and offshore, to acquire and analyze low frequency (<10 Hz) seismic background waves continuously present in the Earth's subsurface in order to identify spectral attributes indicating the likely presence or absence of hydrocarbons within a survey area. The resulting information can greatly reduce the risk and improve the success rate of costly oil exploration and drilling activities and improve decision-making throughout the life of a field. Broad adoption of the company's technology by the global oil and gas exploration and production industry can be expected to save billions of dollars each year which is currently expended on non-productive exploration surveys and dry wells, as well as significantly improve the industry's environmental performance. Spectraseis was established in 2003 and is headquartered in Zurich, Switzerland. In 2007, Warburg Pincus invested $32 million to finance the company's growth plans and is currently the largest shareholder.
