Novi is a machine learning-driven well planning software platform that utilizes proprietary data and predictive analytics to enhance asset evaluation and optimize development planning in the oil and gas sector. The platform enables energy decision-makers to quickly generate accurate forecasts and insights, significantly reducing the time required for investment evaluations and operational planning.
Funding
$7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Accurate asset evaluation and development planning in the oil and gas sector are often hindered by reliance on limited historical data and the complexity of integrating multiple data and analytics platforms. This can lead to time-consuming investment evaluations and suboptimal operational planning.
Solution
Novi provides an energy analytics platform that leverages proprietary data and machine learning to streamline workflows and enhance decision-making for energy sector participants. The platform integrates diverse data sources and advanced analytics, enabling users to generate accurate forecasts and insights for asset development, A&D opportunities, and financial investments. By applying causal modeling and AI-driven techniques, Novi addresses biases in traditional data-driven models, providing a more accurate understanding of well spacing and performance. The platform's unified solution eliminates the need for multiple BI tools and complex analytics, allowing users to predict thousands of scenarios in hours instead of weeks.
Target Audience
Novi serves exploration and production companies, mineral and royalty owners, oilfield service companies, and financial services firms involved in energy investments.
Features
- Data Engine: Facilitates building custom datasets with ease
- Model Engine: Enables self-service machine learning for predictive analytics
- Forecast Engine: Reinventing energy forecasting with advanced algorithms
- Insight Engine: Provides energy data visualization for rapid analysis
- Novi Data Network: Offers oil and gas forecasting with proprietary data
- Causal modeling to address biases in well spacing and timing
- Integration of public and proprietary datasets for comprehensive analysis
- Scenario planning for optimizing well placement and completion strategies