Tuesday, November 01, 2011

Oil and gas geophysical services company MicroSeismic, Inc. selects IFS Applications for ERP and service management

MicroSeismic, Inc., a Houston, Texas-based geophysical services company serving the oil and gas industry, has selected IFS Applications as its enterprise resource planning (ERP) system of record.

MicroSeismic deploys people, proprietary technology and equipment to monitor subsurface conditions during hydraulic fracturing processes to help oil and gas well operators:

  • Stay in zone in order to maximize recovery
  • Maximize estimated ultimate recovery (EUR) by helping operators have a better understanding of their fracture programs.

Microseismic has licensed a broad suite of IFS Applications functionality including IFS Business Performance, IFS Service Management, IFS Project Management, IFS Document Management, IFS Supply Chain, and IFS Sales & Marketing.

According to MicroSeismic CFO, Ronald Mogel, the company has been experiencing rapid growth that caused it to outstrip the capabilities of its existing business information technology infrastructure.  Microseismic retained an outside selection consultant to evaluate a number of ERP products for overall functional fit.

“The comprehensive, integrated approach we saw in IFS Applications was very attractive, and this was enhanced by the fact that IFS would be handling the implementation,” Mogel said. “Additionally, the fact that IFS Document Management has the ability to keep our documents within the IFS Applications database seemed fairly unique and potentially less problematic than purchasing and integrating a third party document management product. Finally, the IFS implementation program seemed to be the most scalable, allowing a multi-phased implementation and multiple successful go-lives at smaller intervals. This ability to manage change incrementally is exactly what we need due to very limited staff at our company.”

“With its project-based business model, MicroSeismic is exactly the type of oil and gas services company that really ought to be implementing IFS Applications,” IFS North America Director for Energy and Asset Management Patrick Zirnhelt said. “They have proprietary technology and skilled people deployed in the field in a distributed environment. The ability to sustain those people and assets in an optimal way requires an integrated enterprise application designed for oil and gas services and dynamic business.”

“We anticipate that IFS Applications will assist us by providing reliable, timely business information that will enable us to focus resources where we can deliver the greatest result to our clients and our shareholders,” Mogel said.

The oil & gas industry is one of IFS’s targeted vertical market segments. IFS offers a complete, integrated industry-specific solution that manages the entire project and asset lifecycle from engineering, procurement, material management and fabrication to installation and commissioning, maintenance and service, spares and supply chain, repair, refurbishment, and disposal. IFS Applications includes functionality for contract and project management, risk management, budgeting and forecasting, engineering and material management, manufacturing, document management, service and asset management, all integrated with financials and human resources. IFS targets EPCI contractors, project-based manufacturers and service providers. IFS customers include Grenland Group, Babcock Engineering Services, ShawCor Ltd, TLT Babcock, Damen Shipyards, Horizon, Contiga, STX, Ultra Electronics, Austal, Archer, Doppelmayr, Smit, and FEV.

About MicroSeismic

MicroSeismic, Inc. is a global geophysical service company providing real-time monitoring and mapping of hydraulic fracture operations for developing unconventional oil and gas plays. Founded in 2003, MicroSeismic is the pioneer in monitoring microseismic activity utilizing surface and near-surface arrays. MicroSeismic's technology provides real-time information on fracture location and geometry helping operators increase production and recovery while decreasing cost and risk.

For more information visit www.microseismic.com

About IFS

IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite built on SOA technology. IFS focuses on industries where any of four core processes are strategic: Service & asset management, manufacturing, supply chain and projects. The company has 2,000 customers and is present in more than 50 countries with 2,700 employees in total. Net revenue in 2010 was SKr 2.6 billion.

Contact Information

Vice President Corporate Communications Oliver Pilgerstorfer

Phone: +44 1494 428900

Contact Oliver Pilgerstorfer

Head of IR Frédéric Guigues

Phone: +46 8 58 78 45 00

Contact Frédéric Guigues