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Company News

Novi Releases Next Generation of AI-Driven Modeling Pipeline, Increasing the Accuracy and Efficiency of PDP Forecasting

September 30, 2020

09/30/2020: Novi Labs (“Novi”) today announced the release of the next generation of its artificial intelligence-based modeling pipeline. The first application of this patent-pending pipeline integrates a fully automated and highly accurate Proved Developed Producing (PDP) forecasting workflow that is integrated into Novi’s Forecast Engine™.

This allows reservoir engineers and financial analysts at oil & gas operators and financial services companies the capability to automate the generation of PDP forecasts with oil and gas AI software, driving improved accuracy of wedge forecasting, reserves forecasting, and valuation of acquisitions and divestiture opportunities.

Novi’s innovative approach to generating PDP forecasts utilizes Novi’s latest AI modeling pipeline to create highly accurate forecasts. Read the full PR here.

Filed Under: Automated Well Planning, Artificial Intelligence in Oil and Gas, Company News

Digital Wildcatters Interview of Novi President Jon Ludwig

March 13, 2020

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.

Filed Under: Company News

Novi’s New Prediction Engine Accelerates Well Planning

February 4, 2020

Novi Labs announces the release of Novi Prediction Engine™, a new self-service software capability that enables rapid modeling of oil & gas capital allocation scenarios in minutes.

Filed Under: Company News

Paramount Resources Integrates Novi’s Machine Learning into Well Planning Workflows

January 28, 2020

Novi Labs, Inc. and Paramount Resources LTD form partnership focused on increasing net asset values by enabling Paramount’s engineering teams to rapidly analyze all possible development scenarios to produce the most capitally efficient drilling plan.

Filed Under: Company News

Join Us at SPE HFTC 2020

November 14, 2019

The SPE Hydraulic Fracturing Technology Conference showcases existing and new hydraulic fracturing technologies, using experiences from fracture-stimulated wells, and the application of global learnings.

Filed Under: Company News

Bringing Transparency to Oil & Gas Predictive Analytics

November 6, 2019

The oil & gas business has seen its fair share of software vendors who claim magical results delivered via a black box approach.

Filed Under: Company News

Kevin Stambaugh Joins Novi

October 19, 2019

We are excited to welcome Kevin Stambaugh to the Novi executive team! Kevin brings nearly 30 years of experience as a software and product development manager and has a strong record of strategic leadership across early and growth stage startups.

Filed Under: Company News

Novi Version 19.2 Released

September 8, 2019

Over the past couple of months, the Novi product development team has been hard at work preparing the next round of enhancements to our AI-powered well planning software. We are excited to announce that version 19.2 has been released!

Filed Under: Company News

Takeaways from URTeC 2019

July 26, 2019

The second year of URTeC in Denver saw record-breaking attendance, clearly signaling the growing importance and hunger in the oil & gas industry to bring geoscience and engineering together under one roof to discuss the technical trends that are sustaining the shale revolution.

Filed Under: Company News

Novi to Participate in URTeC2019

July 23, 2019

Leader in well planning solutions for unconventional development participates in URTeC panel and showcases latest technology for optimizing well design to enhance rate of return on capital.

Filed Under: Company News

Recap of Novi’s AAPG Ace Talk

May 28, 2019

On May 22 Novi’s chief geophysicist Kiran Sathaye gave a technical presentation at AAPG ACE 2019 in San Antonio on leveraging AI to predict hydrocarbon recovery.

Filed Under: Company News

Novi Raises $7 Million, Welcomes Scott Sherwood as CEO

May 15, 2019

Austin technology startup closes Series A funding round with Cottonwood Venture Partners and Bill Wood Ventures, announces appointment of new CEO to grow and scale Novi’s team and leading AI-driven well economics software platform.

Filed Under: Company News

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NOVI ML IN OIL & GAS BLOG TOPICS

  • Automated Well Planning
  • Predictive Analytics
  • Well Completions
  • Drilling Optimization
  • Well Designs
  • Digital Oilfield Technology
  • Big Data Management
  • Artificial Intelligence in Oil and Gas
  • Conference Presentations

Recent posts

What can chess teach us about artificial intelligence in oil and gas?

December 16, 2020

Machine Learning Regional Profiles for Geologic Insights: Mapping Unconventional Production Drivers in the Williston Basin

December 14, 2020

Investing in Shale Oil and Gas Wells: Are you the House or the Player?

November 17, 2020

Analyzing Vista’s Record-Setting Vaca Muerta Wells with Oil and Gas Machine Learning Models

August 26, 2020

Making sense of it all: extracting actionable core-data from pXRF using PCA and K-means cluster analysis

August 7, 2020

Novi geoSHAP – estimating rock quality using SHAP values in machine learning models: URTeC 2020 Novi Paper Summary

July 14, 2020

Water, water everywhere: oil well water analysis with machine learning models to improve produced water forecasts in the Williston Basin: URTeC 2020 Novi Paper Summary

July 6, 2020

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