Dr. Peter M. Duncan
President and CEO
Dr. Duncan has a strong track record of commercializing technologies and building successful businesses. In 1987, he helped Digicon found ExploiTech Inc., an exploration and production consultancy. Duncan was named President of the firm when it became a subsidiary of Landmark Graphics in 1989. A few years later, Duncan was one of three who founded 3DX Technologies, Inc., a publicly traded independent oil and gas exploration company.
His latest venture, MicroSeismic, was founded on an initially unproven idea that Duncan was able to revive and transform into an entirely new service offering. Despite the naysayers, Duncan worked tirelessly to prove the science behind his idea and achieve the so-called impossible, becoming the pioneer of hydraulic fracture monitoring.
Today, MicroSeismic is a leader in the emerging field of passive seismic monitoring with 99% of MicroSeismic’s revenue coming from fracture monitoring. But, despite MicroSeismic’s demonstrable success, Duncan says only about 4% of wells are currently monitored in that way, so there is still enormous room for growth. To date, MicroSeismic has experienced tremendous growth under Duncan’s leadership, with revenues soaring 70% yearly over the last three years.
Pay it forward
In addition to his love for technology and science, Duncan is passionate about education. He is a next-generation advocate and helps develop continuing education and mentoring programs for students pursuing degrees in geosciences. As a way to encourage high school students to pursue degrees in the geosciences, Duncan established the SEG Challenge Bowl, a contest that culminates with a chance to win education scholarships and prize money. In addition to this award from EY, MicroSeismic has received numerous other recognitions, most notably a nod from CNBC when the organization named MicroSeismic one of the five energy disruptors on the inaugural 2013 CNBC Disruptor 50 list.