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Date Announced: 28 Feb 2013
Acorn Energy subsidiary secures a sale.
CHATSWORTH, Calif., Feb. 28, 2013 /PRNewswire/ -- US Seismic Systems, Inc., an Acorn Energy, Inc. (NASDAQ: ACFN) company, today announced it has secured another order for their Ultra‐High Sensitivity (UHS) fiber‐optic sensing system.
This system is designed for use by one of the world's largest integrated oil companies in a permanent down-hole monitoring application to enable on-going and high-resolution sub-surface imaging of oil and gas reservoirs.
It will be utilized in a competitive full scale field evaluation by the customer for potential use as their primary sensing system for permanent downhole monitoring of their vast unconventional oilfield holdings. Terms of the sale are confidential.
"New production techniques are being used to unlock our vast domestic supplies of unconventional oil and gas making it possible for the US to become energy independent before the end of the decade," stated Jim Andersen , USSI's CEO.
"These new production techniques require higher performance sensing systems for safe and efficient extraction of the oil and gas in a variety of harsh environments including high temperature. USSI's fiber optic sensor arrays have proven to be the only systems capable of meeting all of these demanding performance requirements."
"We expect that one day every oil and gas field will be monitored by permanently embedded down-hole fiber optic seismic sensors," stated John Moore, CEO of Acorn Energy. "This marks a pivotal moment in the oil patch where seismic technology is transitioning from its traditional role of supporting exploration to becoming a real-time production tool."
Source: US Seismic Systems
E-mail: hwilkinson@us‐si.com
Web Site: www.us-si.com
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