Introduction: Problem we are Trying to Solve; Methodology we are Applying to Solve it We have written a couple of posts about optimizing completions on DUC (Drilled but UnCompleted) well inventory given the extreme constraints on capital that Operators are facing. In our first post, we focused on QEP’s inventory in the Midland, and then […]
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DUC, DUC, GOOSE: In a sub-$30 oil environment how can NBL maximize returns with less CAPEX spend in their Delaware asset?
Given the extreme capital constraints imposed by a lower commodity price environment, many operators have announced CAPEX reductions and significant rig layoffs. Given these reductions, it would make sense to apply what capital remains to complete through DUC (Drilled, but UnCompleted) wells. If this is true, it would also make sense to revisit the completion […]
change of plans: how QEP could optimize returns in their Midland asset in a low-price environment
Should QEP change its development strategy in this lower price environment? Using our machine learning models and Novi software we analyzed QEP’s Midland Asset development plans to determine the best plan going forward. Based on evaluation of the data, QEP should consider: Downsizing completion designs in primary zones. Discontinuing development of non-core zones. In this […]
five ways algorithms, compute and smart digital oilfield applications might save the Shale industry
We must lean out to survive this price shock. Novi founder Jon Ludwig provides some historical context and outlines the case for operators and finance professionals serving the industry to adopt digital oilfield technologies now.
less than 10% of remaining Bakken inventory is in the play core
With the current oil price downturn, many have started to wonder whether activity in the Bakken will ever return to its previous heights. Using our machine learning models, we estimate that <10% of the remaining inventory is Tier 1, with the real number perhaps <5% due to surface constraints. With lower-tier locations predicted to produce […]
Digital Wildcatters Interview of Novi President Jon Ludwig
Novi President Jon Ludwig sits down with the cool cats at Digital Wildcatters for their first ever “video included” DW podcast and discusses Novi’s roots and the future of decision making in shale as continued pressure on strip price forces oil companies and investors to re-evaluate their decision making paradigms.