Microseismic noted the basin has a remarkable amount of shale gas with estimated gas expected at 200 trillion cubic feet.

As per the deal, Microseismic will undertake detailed mapping of fracture growth and seismicity monitoring of the Becconsall well in Lancashire, UK and monitor multiple potential wells for optimized field development.

MicroSeismic founder and CEO Peter Duncan said although we think of ourselves as sitting on a passive surface, we are actually on a surface of continual, but undetectable natural seismicity.

"The earth is in a constant and natural state of shifting," he added.

"We are pleased to be working with Cuadrilla to assist them with microseismic mapping of their operations, as well as, detecting the potential instance of small, less than 0.5 ML, events."

Cuadrilla has hired MicroSeismic to provide real-time monitoring of subsurface seismic activity during fracturing operations which are at levels not detectable at the surface.

In the basin, MicroSeismic will install its near-surface monitoring system, which has been successful in monitoring wells over large geographical areas in North America and other areas, the company noted.