Lease-to-Well Production Allocation
To conduct comprehensive well-level analysis, it is crucial to break down production data to the individual well level, even though it is commonly reported at the lease level in many states. Novi Labs has built the most accurate allocated production data for oil, gas, and water using our proprietary lease-to-well allocation algorithms.
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Lease-to-Well Production Allocation
Production allocation is the process of assigning the total production of a group of wells or a production facility to the individual wells or zones that contribute to it. This essential process establishes the amount of oil, gas, and other hydrocarbons produced by each well or zone.
Monthly Well-Level Production Data and Other Well Data Types
Comprehensive coverage of upstream assets, continuously updated with industry-leading datasets for production, completions, and spacing, including proprietary data at the individual well level.
Built in Collaboration With Some of the L48’s Top Operators.
Novi collaborates with some of the most technologically savvy operators in unconventional oil & gas, working to ensure that the scraping, processing, and allocating algorithms produce highly accurate results.
Data accessible through intuitive dashboards
Easily analyze well-level production and completion data with an exceptional level of detail and make informed decisions faster with intuitive dashboards
Why is lease-to-well production allocation data crucial in the energy industry?
Production allocation is a critical aspect of oil and gas production because it affects how revenues are distributed, how reservoir performance is analyzed, and how production data is used for reservoir management. It is typically done using a combination of production data measurement, modeling, and analysis techniques. Without allocated production (or other proprietary sources like the Novi Data Network), you aren’t able to understand how much each individual well produces. This makes it impossible to analyze per-well reserves, study completions designs, evaluate the productivity of different targets, or estimate lateral length production efficiencies.
Transform production data into actionable insights with precise lease-to-well allocation
Novi's production allocation approach
Tackling the Texas Challenge
Texas stands apart in the US oil and gas industry with its unique approach to production reporting. Unlike most states where operators report at the individual well level, Texas mandates reporting at the lease level. This seemingly minor difference creates a significant challenge for analysts, operators, and industry stakeholders seeking to extract meaningful insights from the data.
The intricacy of Texas’s reporting methodology stems from the varied nature of leases. A single lease can encompass anywhere from one well to over a thousand, creating a complex web of data that defies easy interpretation. This variation in granularity poses particular problems for critical analytical tasks such as well forecasting, where individual well-level production data is crucial for accurate projections.
The challenge is further compounded by the dynamic nature of the industry. Changing leases, stacked laterals, pending productions, reclassified wells, and the unique reporting requirements of the Texas Railroad Commission (RRC) all contribute to the complexity. Allocating production to individual wells from lease-level data becomes a formidable task, especially considering the sheer scale of operations in Texas—over 400,000 leases and 600,000 wells.
Recognizing the need for a revolutionary solution to this daunting problem, Novi Labs has stepped in to develop innovative approaches to unravel this complex data landscape
Novi's lease-to-well allocation approach
Leveraging our years of hands-on experience with operators and our extensive knowledge of forecasting, we’ve architected advanced algorithms to deliver highly accurate production profiles at the well level. These algorithms aren’t just a static solution; they’re dynamic, capable of accommodating all possible lease configurations and evolving with them over time.
The foundation of our approach is the Novi Data Network (NDN), an ever-expanding set of approximately fifteen thousand wells, replete with actual production data. NDN serves as the fuel for our allocation algorithms, enabling us to identify areas for enhancement and instantly test whether a proposed modification improves allocation accuracy.
This approach is made even more effective by our close collaborations with our operator customers. Since these operators are the ones filing the reports to the RRC, they provide invaluable insights into unique reporting requirements, helping us fine-tune our solution.
Thanks to our relentless pursuit of improvement, the precision of our lease-to-well allocation now leads the industry, transforming the Texas reporting challenge into an opportunity for better data analysis and insights.
Seamlessly Integrate Powerful Data Analysis into Your Workflows for Faster, Smarter Decisions
How can our data integrate into your workflows?
Benefit from our low-latency approach by utilizing our REST API, or download directly to your desktop. Out data structure has been optimized to work with analytics tools such as Tableau, Spotfire or Power BI.
Direct database connectivity
Seamlessly integrate our data with your existing systems through our robust API or connect directly with a wide range of database architectures like Snowflake.
Complete browser-based access
Explore upstream data effortlessly with our interactive web-based mapping tool (Insight Engine). Zoom, pan, and filter to find exactly what you need. Identify key energy assets and export data in various formats such as CSV
We integrate with most existing tools and workflows.
- Structured data for effortless analysis, with easy-to-scan datasets
- Full integration with Tableau, TIBCO Spotfire, or Power BI.
- REST API for a continuous update on your terms.
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