Warburg Pincus drills into oil and gas investor base

Spectraseis, a Swiss provider of low frequency geophysical solutions to the upstream oil and gas industry, has secured SFr36m (US$32.5m) from Warburg Pincus, a global private equity firm.

Warburg Pincus has acquired a significant minority stake in Spectraseis, providing new equity to finance the company’s growth plans. Previous investor, StatoilHydro Venture Capital will continue to own a stake in the business alongside management.

Established in 2003 in partnership with European universities, Spectraseis helps oil and gas companies find and reduce hydrocarbon reserves more efficiently, reducing risk beyond conventional surveying and seismic techniques. Customers include Petrobas, StatoilHydro, Pemex and other operators in the Middle East and North America.