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Novi Labs

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We make accurate oil and gas forecasts, fast

Novi’s AI driven oil and gas production forecasting software publishes data-driven dynamic forecasts and supporting datasets. Novi improves decision quality, efficiency and return on capital for oil & gas operators and investors.

NOVI well planning PRODUCTS

novi thesis :: Forecasting methods must improve

A New Approach to Oil and Gas production forecasting & analysis is Needed.

“Traditional” software, equations & workflows have led the industry into a morass

oil field workflow efficiency

Workflow Efficiency

  • Manual “one at a time” oil and gas forecasting processes take too long.
  • Forecasting methodologies bake in engineering bias.
  • Digital oilfield driven automation is essential.
well performance drivers

PERFORMANCE DRIVERS

  • ‘Area’ type curves with manual adjustments for well engineering design are not investment grade.
  • Understanding of oilfield performance drivers for each well is inadequate.
  • Oil & gas production performance drivers change over time.
oil & gas operators decision quality

Decision Quality

  • Bias driven pre-drill forecasting leads to mis-allocated capital.
  • Failure to account for the dimensional complexity of forecasting horizontal wells.
  • Inadequate data to describe oil & gas forecasting drivers leads to bad engineering decisions.

The challenge is to remove biases, minimize errors, identify performance drivers with proper analogs and optimize the well planning process for oil & gas drilling operators and investors. Novi meets this challenge with data-driven digital oilfield automation software and data.

Novi improves oilfield workflow efficiency

We use cloud based compute + algorithms + software + optimized oil & gas data to increase decision confidence on forecasts while decreasing manpower required

Improve oil and gas planning quality with digital automation
Improve Oil Well Workflows with Data Algorithms
  • Speed up development planning workflows for engineers and geoscientists.
  • Cut oilfield acquisition evaluation time in half, freeing your engineering team to work proactively where they will have the most impact.
  • Use our Digital Oilfield technology to automate forecasting workflows.

How efficient are your workflows? Surviving in Shale 3.0 will require advanced oilfield software backed by powerful machine learning models to meet investor demands demand for lean, efficient operations.

Novi drives understanding of well performance drivers

Novi software & data help disentangle complex interactions between oil well data variables.

oilfield automation with geoSHAP digital mapping
Novi Oil and Gas Software and Data for Well Performance
  • Analyze performance drivers at the well, unit and asset level.
  • Disentangle complex relationships between spacing, stacking, stimulation and subsurface.
  • Learn how the impact of oil & gas well variables like completions and spacing change over the life of a well.
  • Map production and value sweet spots across an asset or basin in our digital oil field automation software platform.

Cut through the complexity of unconventional reservoirs with advanced machine learning explainability methods. Use our models to evaluate how much each variable matters, as judged by what really matters: the production of your wells relative the the amount of capital you invested.

Novi improves decision quality

Novi software creates many asset valuation scenarios and Novi data helps risk adjust decision making workflows

Produce unbiased benchmarks with well analogs in automated oilfield scenario maps
Novi Improve Oil and Gas Well Decision Quality
  • Analyze production rate, breakevens, and free cash flow generation under different development scenarios.
  • Leverage forecast confidence metrics to understand risk and uncertainty.
  • Minimize bias with a data-driven, algorithmic approach to well production planning.

Are you making the right decisions for a winning development program? Novi data scientists and software engineers have developed cloud based oil & gas software and proprietary data outputs that estimate the probabilities of our machine learning forecasts, without prescribing assumptions about what those distributions look like.

Machine Learning in Oil & Gas blog

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Well Completions

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Digital Oilfield Technology

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Artificial Intelligence in Oil and Gas

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Reach out

Novi’s AI-driven well planning software is the only product of its kind that revolutionizes the way oil & gas investments are made. Drop us a line to request more information by clicking the button below!

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Austin, Texas 78723

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512.368.9042

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