News Article | November 3, 2016
CALGARY, ALBERTA--(Marketwired - Nov. 2, 2016) - Pulse Seismic Inc. ("Pulse" or "the Company") (TSX:PSD)(OTCQX:PLSDF) reports its financial and operating results for the three and nine months ended September 30, 2016. The unaudited condensed consolidated interim financial statements and management's discussion and analysis will be filed on SEDAR (www.sedar.com) and will be available on Pulse's website (www.pulseseismic.com). HIGHLIGHTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2016 Financial highlights for the three and nine-month periods are: The Company is observing a number of positive signs that, although individually modest, collectively point towards a strengthened oil and natural gas industry outlook. Pulse's improved seismic data library sales in the third quarter made up some of the ground lost in the weak second quarter. Pulse continues to have poor visibility regarding both traditional and transaction-based data library sales for the remainder of the year and, accordingly, overall data library sales for 2016 could be lower year-over-year. Industry merger and acquisition activity, the primary source of Pulse's transaction-based sales, has been lower than expected to date this year. Although many producing asset packages and companies continue to be marketed, bid-ask spreads remain high and some management teams appear to be attempting to "hold on" until better times. Mineral lease auctions across western Canada have remained extremely low, as has oil and natural gas drilling activity. The Canadian Association of Oilwell Drilling Contractors' revised 2016 drilling forecast, issued in late September, calls for only 3,562 wells to be drilled in 2016, down by 25 percent from the organization's original forecast of 4,728 wells and down from 5,300 wells drilled in 2015. Drilling rig utilization was only 17 percent in the third quarter compared to 24 percent utilization of a larger drilling fleet in the same months of 2015. These figures mainly confirm, however, that 2016 will be a weak year for the industry and suggest low field activity for the short term. Certain other forward-looking indicators appear to be improving. In mid-October crude oil prices did briefly climb above US$50 per barrel WTI amidst indicators that the growth in crude oil inventories has halted and may begin to decline. Natural gas prices have improved markedly. The Alberta benchmark AECO price closed at $3.25 per mcf on October 20. This was up from $2.61 per mcf one year earlier and is significantly higher than the year-to-date average price of $1.95 per mcf. Natural gas storage volumes in the United States, though high, are now tracking the upper end of the five-year weekly range. The Energy Information Administration (EIA) recently predicted robust growth in U.S. residential natural gas consumption over the winter. Meanwhile, with barely 100 rigs drilling for natural gas in the U.S., production from unconventional shale reservoirs is continuing its decline. Pipeline exports to Mexico continue to grow, while Cheniere Energy's Sabine Pass project, North America's first large-scale LNG export operation, now has two liquefaction trains licensed for commercial operations. The EIA forecasts that U.S. LNG exports will average 1.3 billion cubic feet per day in 2017, marking the country's first material export volumes spanning an entire year. In Canada, federal approval (with numerous conditions) of the Pacific Northwest LNG export facility is a positive step towards a final investment decision for this landmark project. Together, these factors suggest potential for a supply-demand rebalancing to take hold in North America. For western Canada's upstream oil and gas sector, low to negative cash flows, typically heavy debt loads, low share prices and investor caution are likely to delay by a number of months or quarters a noticeable supply response in the form of greater field capital expenditures, land acquisitions and drilling. The price-related trends for both major hydrocarbon commodities are, however, generally positive for the first time in at least two years. Higher industry capital spending historically has been associated with higher data library sales. For this reason, Pulse remains very cautious about the short term, but is becoming more optimistic regarding the medium term. Due to its low cost structure, Pulse is a high-margin business under even modestly positive levels of data library sales, and creates significant leverage for cash EBITDA and shareholder free cash flow under a significant rebound in data library sales. In the meantime, Pulse will remain financially prudent. With zero long-term debt and cash of $3.9 million at September 30, the Company's balance sheet is even stronger than at the end of the first or second quarters. The Company's ability to generate cash EBITDA and shareholder free cash flow in all three quarters underscores the benefits of the Company's cash-focused business model. Pulse's long-term goal continues to be growing into Western Canada's largest licensable seismic data library. The Company's next conference call will be held after the release of its year-end 2016 results, in March 2017. Should investors or analysts wish to contact the Company, please feel free to contact Neal Coleman or Pamela Wicks at the e-mail address or telephone number provided below. Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the second-largest licensable seismic data library in Canada, currently consisting of approximately 28,600 square kilometres of 3D seismic and 447,000 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin where most of Canada's oil and natural gas exploration and development occur. This news release contains information that constitutes "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities legislation which includes, among other things, statements regarding: Undue reliance should not be placed on forward-looking information. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to vary and in some instances to differ materially from those anticipated in the forward-looking information. Pulse does not publish specific financial goals or otherwise provide guidance, due to the inherently poor visibility of seismic revenue. The foregoing list is not exhaustive. Additional information on these risks and other factors which could affect the Company's operations and financial results is included under "Risk Factors" for the most recently completed financial year and interim periods. Forward-looking information is based on the assumptions, expectations, estimates and opinions of the Company's management at the time the information is presented.
News Article | February 21, 2017
SAN DIEGO, Feb. 21, 2017 /PRNewswire/ -- Seismic, the leading enterprise grade sales enablement platform, was recently ranked on Entrepreneur's Top Company Cultures list, a comprehensive ranking of U.S.-based businesses exhibiting high-performance cultures created in partnership with...
Seismic Inc. | Date: 2015-11-18
Disclosed are various embodiments of methods for identifying faults and fractures, and other permeable features, within geologic layers during a drilling operation comprising; recording microseismic data during a drilling operation; recording times and positions of a drill bit in a well bore during the drilling operation; processing microseismic data at a plurality of selected times and locations to image microseismic events and identifying faults and fractures, and other permeable features, from corresponding images of microseismic events. In other embodiments, the integrity of a cementing operation may be verified by recording microseismic data during a cementing operation; recording times and positions of a cementing operation in a well bore during the cementing operation; processing microseismic data at a plurality of selected times and locations to image microseismic events and identifying faults and fractures, and other permeable features, within the cemented zone from corresponding images of microseismic events.
Seismic Inc. | Date: 2013-11-18
A monofrequency signal is used to record signature properties of subsurface reservoir formations. While recording conventional Vibroseis data after certain prescribed distances, the monofrequency signal is transmitted to evaluate the presence of reservoir rocks underneath that source location. When a compressional wave travels through a permeable and fluid-saturated reservoir formation, the Drag Wave travels through reservoir fluid interconnections at a slower velocity than the compressional wave in the rock matrix. Due to the Doppler Effect, a unique lower frequency is generated. This lower frequency becomes an indicator of the presence of reservoir formations. Its character depends on the tortuosity of pore interconnections, presence of pore fluids, and permeability. A transfer function is calculated to convert the swept frequency signal used for conventional seismic recording. This converted swept frequency signal is cross-correlated with the normally recorded signal. Only the presence of the reservoir formation is highlighted; non-reservoir formations are not displayed.
Seismic Inc. | Date: 2016-04-29
The invention comprises a method of imaging a volume of the earths subsurface. A selected volume of the earths subsurface is divided into a three-dimensional grid of voxels. Seismic signals representing seismic energy emanating from the earths subsurface and detected by sensors deployed in proximity to said selected subsurface volume and conducted to a recorder for recording. The recorded signals are transformed into a grid of discrete voxel signals representing energy emanating from voxels included in said three-dimensional grid of voxels in the earths subsurface. A smooth analytic function is defined in three dimensional space based on the grid of discrete voxel signals; and fracture surfaces are derived from the smooth analytic function.
Seismic Inc. | Date: 2014-09-26
A device and method for improved geodetic and seismic measurements are disclosed. The device comprises a triaxial accelerometer assembly, mounted to a reference structure, having full scale ranges greater than +/1 G on three orthogonal axes and a mechanism for rotating the triaxial accelerometer assembly on the reference structure. The triaxial acceleration assembly is calibrated with an internal alignment matrix such that measurements of Earths gravity vector are rotationally invariant with respect to the direction of Earths 1 G static gravity vector irrespective of the orientation of the triaxial assembly on the reference structure. In-situ calibrations are performed by rotating the axes of the triaxial acceleration assembly in the direction of Earths static gravity vector. Drift of the triaxial accelerometer assembly is compensated for by measuring changes in the values of the invariant static gravity vector for each axis and correcting for the drift with new calibration coefficients.
Seismic Inc. | Date: 2013-02-05
A structural framework that includes a column, a beam, a brace beam coupled at an angle to the column and the beam, and a gusset plate to connect the brace beam with the column and the beam. The framework also includes a shear plate with horizontally slotted holes to couple to the column to the beam. The structural framework may also include double framing angles or a flex plate coupled to the gusset plate and to the beam via spacer plates to provide for a semi-rigid connection.
News Article | December 14, 2016
CALGARY, ALBERTA--(Marketwired - Dec. 13, 2016) - Pulse Seismic Inc. ("Pulse" or "the Company") (TSX:PSD)(OTCQX:PLSDF) is pleased to announce that it has extended its revolving credit facility for an additional year. The new maturity date of the facility is February 13, 2020. The facility's available borrowing amount remains at $30.0 million. Up to $5.0 million of the revolving facility continues to be available as an operating line of credit. The credit facility is with a syndicate led by TD Bank and includes ATB Financial and continues to include an accordion feature which allows Pulse to increase the facility's size up to $70.0 million, subject to the consent of the lenders. The accordion incurs no renewal or standby fees. "We value the ongoing strong support of our lenders," commented Neal Coleman, Pulse's President and CEO. "In January of this year we acquired approximately 107,000 net kilometres of 2D seismic data, thereby increasing our 2D library by over 30%. As a debt free organization, having this undrawn revolving credit facility assists us in the pursuit of additional seismic data acquisition opportunities." Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the second-largest licensable seismic data library in Canada, currently consisting of approximately 28,600 square kilometres of 3D seismic and 447,000 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin where most of Canada's oil and natural gas exploration and development occur.
News Article | November 16, 2016
SAN DIEGO, CA--(Marketwired - Nov 16, 2016) - Seismic, the leading enterprise-grade sales enablement solution, today announced it ranked 83rd on Deloitte's Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Seismic grew 1,170 percent during this period. "We are pleased to be recognized as one of the fastest growing technology companies in North America by an organization with as great a reputaion and tradition as Deloitte's Technology Fast 500™," said Doug Winter, Seismic's CEO and co-founder. "Our growth is a direct result of our devotion to our customers' success and to providing them with the most robust sales enablement product on the market now and into the forseeable future." "Today, when every organization can be a tech company, the most effective businesses not only foster the courage to explore change, but also encourage creativity in using and applying existing assets in new ways, as resourcefully as possible," said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications industry leader. "This ingenious approach to innovation calls for the encouragement of curiosity and collaboration both within and outside the office walls." "This year's Fast 500 winners showcase that when organizations are open to diverse perspectives and insights, they are able to create an environment for their employees and customers to see the possibilities and ingenious solutions that might lie ahead," added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. "Entrepreneurial environments foster change and innovation within businesses, and we look forward to watching these companies continue to drive change across all sectors." Seismic has seen triple-digit growth three years in a row, and the company is currently serving more than 200 customers worldwide, more than half of which have annual revenues exceeding $1 billion. Seismic's platform helps large enterprises deliver the right content to the right sales rep at the right time, and net retention for the company remains near 100 percent in large part due to an industry-standard product producing quantifiable results: After interviews with four Seismic customers, "The Total Economic Impact™ Of The Seismic Sales Enablement Platform," a May 2016 commissioned study conducted by Forrester Consulting on behalf of Seismic, found a 578 percent return on investment for organizations deploying the company's sales enablement solution. Overall, 2016 Technology Fast 500™ companies achieved revenue growth ranging from 121 percent to 66,661 percent from 2012 to 2015, with median growth of 290 percent. For more information on how Seismic is helping drive sales effeciency and marketing effectiveness at large enterprises, visit their site here. About Deloitte's 2016 Technology Fast 500™ Deloitte's Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies -- both public and private -- in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America. As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting. About Seismic Seismic's leading end-to-end sales enablement solution for enterprises increases sales efficiency and marketing effectiveness by delivering the right content at the right time. Seismic is the only sales enablement platform anchored by the award-winning LiveDocs® technology, which automates the creation of personalized sales materials within seconds, achieving personalization at scale and dramatically improving time spent selling and win rates. Seismic customers are customizing more than a million pieces of sales collateral per year, and real-time analytics provide unprecedented insight for marketing teams looking to gauge which content helps close deals. Headquartered in San Diego and with 210 employees across the globe, Seismic is privately held by its executive team and investment firms General Atlantic, JMI Equity, and Jackson Square Ventures. For more information about Seismic's end-to-end sales enablement solution, please visit www.seismic.com.
News Article | March 1, 2017
CALGARY, ALBERTA--(Marketwired - Feb. 28, 2017) - Pulse Seismic Inc. (TSX:PSD)(OTCQX:PLSDF) ("Pulse" or the "Company") will hold a conference call on Wednesday, March 8, 2017 at 11:00 a.m. MST (1:00 p.m. EST) to discuss the Company's 2016 results. A news release announcing Pulse's results will be issued on Tuesday, March 7, 2017. The related financial statements and MD&A will be filed concurrently on SEDAR. A news release containing preliminary revenues was previously issued on February 3, 2017. The call will be hosted by Neal Coleman, President and CEO, and Pamela Wicks, VP Finance and CFO. Following management's presentation there will be a question-and-answer session. To participate please dial 416-340-2216 (local - Calgary) or 1-800-377-0758 (toll free - North America) approximately 10 minutes before the commencement of the call. An archival recording of the conference call will be available approximately one hour after the completion of the call until March 22, 2017. To access the replay, please dial 905-694-9451 or 1-800-408-3053 and enter the playback pass code 4982114. Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the second-largest licensable seismic data library in Canada, currently consisting of approximately 28,600 square kilometres of 3D seismic and 447,000 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin where most of Canada's oil and natural gas exploration and development occur.