SUGAR LAND, Texas - Tuesday, June 4th 2013 [ME NewsWire]
(BUSINESS WIRE)-- Wireless Seismic, Inc., the leading innovator of real-time and cable-less seismic data acquisition systems for the oil and gas industry, announced today the successful completion of its latest funding round of $12.5 million. Existing shareholders, Chesapeake Energy and Energy Ventures, were joined in this round by Total Energy Ventures, the corporate venture capital arm of French oil and gas major Total.
"Cable-less is becoming a new standard for land seismic acquisition work, and we are very excited to be investing in Wireless Seismic and to provide growth capital for a promising technology,” said Francois Badoual, CEO of Total Energy Ventures. "We believe that the real-time capability of Wireless Seismic’s RT System 2 can offer a substantial advantage in a broad range of operations.”
With this transaction, Wireless Seismic increases its board of directors to six members including Gary E. Jones, Chairman, Wireless Seismic; Roy Kligfield, Chief Executive Officer, Wireless Seismic; Kent Wilkinson, Vice President, Chesapeake Natural Gas Ventures; Larry Lunardi, Vice President, Geophysics, Chesapeake Energy Corporation; Jim Sledzik, Partner, Energy Ventures; and Christophe Tonion, Investment Manager, Total Energy Ventures.
"We are delighted to welcome Total Energy Ventures as a new investor,” stated Kligfield. "Total is a key player in the oil and gas business, operating in over 130 countries. This partnership will be invaluable to Wireless Seismic as we continue to expand internationally.”
About Wireless Seismic
Wireless Seismic, Inc. is revolutionizing onshore seismic data acquisition with RT System 2, the industry’s only fully scalable wireless seismic recording system with real-time data transmission. Headquartered in Sugar Land, Texas, with offices around the world, the company’s recording systems enable contractors to efficiently tackle the most challenging projects by delivering commercially compelling solutions for conventional surveys and for passive monitoring of hydraulic fracturing. For more information, visit www.wirelessseismic.com.
About Total Energy Ventures
Total Energy Ventures is the corporate venture capital arm of the Total Group. Its investments support the development of companies with innovative technologies or business models in areas such as renewable and alternative energies, oil and gas, gas monetization, energy efficiency, energy storage, waste valorization, greenhouse gases reduction, industrial water, and sustainable mobility.
Wireless Seismic, Inc.
Patricia Jonesi, 832.532.5012