This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

US Seismic Systems, An Acorn Energy Company, Ships World's Largest Down-Hole Optical Seismic Array

Stocks in this article: ACFN


CHATSWORTH, Calif., July 2, 2012 /PRNewswire/ -- US Seismic Systems, Inc., an Acorn Energy, Inc. (NASDAQ: ACFN) company announced today it has built and shipped the world's largest commercial high temperature down-hole fiber-optic seismic array.  The 40-level array is designed for monitoring wells that use the latest unconventional oil and gas extraction technique known as hydrofracking.



"We believe that our new fiber-optic technology, which provides substantially higher performance with an 80-90% reduction in cost as compared to the legacy monitoring systems, will enable operators to cost-effectively monitor 100% of their frac jobs, leading to significant reductions in environmental impact as well as improvements in extraction efficiency," stated Jim Andersen, CEO of US Seismic Systems.  "In addition, our system is designed to operate in the higher temperature shale plays such as Eagleford and Haynesville where the legacy digital electronic systems have been known to have problems."

The system, valued at over $700,000, will be used by a large oilfield service company to monitor stimulations in a high temperature unconventional oil and gas field in Texas.

"We are extremely pleased that Jim and his team have achieved the important milestone of shipping their first commercial system by the end of the first half of 2012, as per their plan.  We are very impressed by the quality of innovation at the Company as well as the pipeline of customer interest in US Seismic's products.  Acorn's Board has agreed to invest an additional $5 million for working capital and to support manufacturing scale-up and inventory build to assure quick turnaround for anticipated new and follow on orders.  This latest capital will increase our total investment in US Seismic to over $16 Million," stated John A. Moore, CEO of Acorn Energy.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs