Novi Labs

Novi Labs is a data analytics company that specializes in providing advanced analytics solutions to the oil and gas industry. Its platform combines predictive analytics, optimized exploration and production (E&P) data models, automated machine learning, Big Data, and cloud technology to create user-friendly web-based workflow tools. Novi Labs offers products that leverage cloud computing and statistical algorithms to assist operators in making informed investment decisions and optimizing their drilling programs.

The company's data models integrate various fields, including reservoir engineering, completions engineering, and corporate planning, to provide comprehensive insights. In March 2022, Novi Labs introduced its Model Engine software, enabling users to integrate proprietary and public data sources, select model features, configure parameters, build machine learning models using cloud computing, review outputs, and publish models for forecasting workflows.

In June 2023, Novi Labs released the Novi Data Network (NDN), a platform that allows oil and gas operators to pool their production and completion data for training machine learning models. NDN encompasses over 20,000 licensed horizontal wells sourced from over 50 operators across 11 shale plays, providing an unparalleled dataset for developing accurate well forecasts and improving return on capital.

Key customers and partnerships

Novi Labs' key customers include Black Swan Oil & Gas, which has utilized Novi's technology for rapidly analyzing acquisition opportunities and optimizing its drilling program, according to Ian Yingling, the CEO of Black Swan Oil & Gas, as of March 2022.

In January 2022, Novi Labs acquired ShaleProfile, integrating its data into Novi's AI platform to offer self-service software, machine learning, and interactive models built on accurate, timely, and complete data.