WILMINGTON, Del., Oct. 16, 2014 /PRNewswire/ -- Acorn Energy, Inc. (NASDAQ: ACFN) today announced that two recently published peer-reviewed papers indicate that US Seismic System's Optiphone HD™ 3C fiber-optic sensor system proved superior to existing downhole well monitoring technology, as well as a new-technology competitor, in tests this summer. One test was conducted by ConocoPhillips Company near Houston, in the Texas Eagle Ford shale formation, and the other test was performed by SR2020, in Devine, Texas.
Both papers will be presented at the upcoming Annual Meeting of the Society of Exploration Geophysicists from October 26-29, 2014, in Denver. Advance abstracts are available for download on the SEG website in the SEG Technical Program Expanded Abstracts 2014 section. USSI plans to exhibit the latest version of its Optiphone HD™ fiber optic geophone and its wireline clamping system at the Society of Exploration Geophysicists Annual Meeting, Booth 2454.
The ConocoPhillips paper states that the company ". . . has an active interest in attempting to image the actual fractures in unconventional reservoirs." It concludes that the USSI Optiphone HD™ system proved superior in detecting seismic events both when compared to industry standard Geospace Technology's analog "Oyo" tool and fiber optic Distributed Acoustic Systems (DAS).
The SR2020 paper asserts that: "The advantage of pure fiber sensor systems is readily evident, since inside the borehole no digitizing electronics or electrical power is necessary. Thus, they are ideally suited for high-temperature and high-pressure down-hole environments for the purpose of active source reservoir characterization and monitoring, as well as passive hydraulic fracture or injection monitoring."
Mark Bashforth, CEO of US Seismic Systems, observes: "Both articles validate our claims of improved sensor performance that provides better images of the subsurface to find and recover more oil and gas with less capital expenditures."
John Moore, CEO of USSI parent Acorn Energy, notes: "Successful tests, publications and customer confirmations drive USSI to full commercialization and our goal of developing a strategic partnership."
About US Seismic Systems, Inc.
US Seismic Systems, Inc. designs, integrates, manufactures and sells fiber-optic sensing systems and solutions for the oil and gas markets. USSI utilizes all-optical fiber sensing technology for its state-of-the-art sensors. USSI's proprietary optical fiber and electronics combine to form the sensor system, which is designed to replace the legacy electronic-based sensor systems offering improved performance and reliability. For more information visit the USSI website at: www.us-si.com
About Acorn Energy, Inc.
Acorn Energy, Inc. is a holding company whose four portfolio companies help their customers achieve greater productivity, reliability, security, and efficiency—factors which can lead to greater profitability. GridSense provides monitoring for all critical points along the electricity delivery system. OmniMetrix remotely monitors emergency back-up power generation systems to increase their reliability. US Seismic supplies fiber optic sensing solutions to increase oil/gas production. DSIT provides security solutions from underwater threats to naval and marine based energy assets. For more information visit: http://www.acornenergy.com.
Safe Harbor Statement
This press release includes forward-looking statements, which are subject to risks and uncertainties. There is no assurance that Acorn Energy, Inc. or its operating companies will continue to grow their respective businesses, or that any of them will meet the expectations or execute the initiatives described or referred to above. A complete discussion of the risks and uncertainties which may affect Acorn Energy's business generally and the businesses of its subsidiaries is included in "Risk Factors" in the Company's most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.
Investor & Press Contact:
F. Kent Leacock
Acorn Energy, Inc.
(925) 698-1431
kleacock@acornenergy.com
SOURCE Acorn Energy
