HOUSTON, TEXAS – May 28, 2013 – MicroSeismic, Inc. (MicroSeismic) Founder and CEO Peter M. Duncan, PhD has been selected as a finalist for the Ernst & Young Entrepreneur Of The Year® 2013 program for the Gulf Coast Area. Duncan was also a finalist for the same award in 2012. 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. Revenues grew 70% yearly over the last three years and the company became the industry leader in hydraulic fracture monitoring. MicroSeismic is the pioneer in monitoring microseismic activity utilizing surface, near-surface and downhole 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.
Duncan’s enthusiasm for technology goes beyond the workplace. He has always been passionate about education, developing continuing education programs for students studying geosciences and mentoring the next generation. While President of Society of Exploration Geophysicists (SEG) in 2003, Duncan established the SEG Challenge Bowl, a quiz contest challenging college and graduate geoscience students, ultimately designed to encourage high school students to pursue degrees in the geosciences. The much anticipated Challenge Bowl begins each year with regional prelims; there they compete in front of an international audience for the chance to win education scholarships, prize money and the right to attend the SEG annual meeting. Duncan continues to enjoy his role as “Alex Trebek.”
Among the company’s numerous recognitions, CNBC named MicroSeismic as one of the five Energy Disruptors on the inaugural 2013 CNBC 50 Disruptors list.
“I have dedicated my career to developing and implementing new technologies for the oil and gas industry. The nomination for Entrepreneur Of The Year is humbling because it places me in a group of outstanding entrepreneurs who have contributed so much to their respective industries,” stated Duncan.
The banquet for the Entrepreneur Of The Year Gulf Coast Area will be held at Houston Hilton America’s on June 13. For twenty-seven years, Ernst & Young has honored the Gulf Coast area’s leading entrepreneurs at one of the most prestigious award programs in the area.
MicroSeismic, Inc. is an oilfield services company providing real-time monitoring and mapping of hydraulic fracture operations in unconventional oil and gas plays in fourteen countries and every major shale play in North America. Founded in 2003, MicroSeismic is the pioneer in monitoring microseismic activity utilizing surface, near-surface and downhole arrays. The company helps oil and gas companies understand how the reservoir responds to stimulation and its impact on customer economics.
For more information visit: www.microseismic.com