NOVI LABS ANNOUNCES THE ACQUISITION OF SHALEPROFILE
Novi Labs, the AI company for energy investing, announces the acquisition of ShaleProfile, the energy data analytics provider.
AUSTIN, Texas - January 19, 2022 - (Newswire.com)
Novi Labs, the AI company for energy investing, announces the acquisition of ShaleProfile, the energy data analytics provider. ShaleProfile will provide the highest quality production and completion data for Novi's self-service machine learning platform. This enables the most accurate economic forecasts that drive the highest quality investment decisions. The transaction closed on Dec. 29, 2021. ShaleProfile B.V. is now a fully owned subsidiary of Novi Labs, Inc.
Forward-looking operators and energy investors are leveraging AI-driven digital workflows to make higher-quality investment decisions. Novi's AI platform replaces the current outdated methods for A&D evaluation, asset optimization, and energy investment analysis. The addition of ShaleProfile's data is a perfect complement and will help both Novi Labs and ShaleProfile customers work with a single partner that offers self-service software, machine learning, and interactive models built on the most accurate, timely, and complete data. This industry-first capability allows customers to complete data to decision workflows in a matter of hours versus weeks and months.
"The culture and vision of our two organizations could not be more aligned. This acquisition is about providing our customers with innovative and field-proven technologies for improving shale production economics," said Scott Sherwood, CEO of Novi Labs.
CEO and founder of ShaleProfile, Enno Peters, will join Novi Labs as general manager of the Data Division. "Combining the most up-to-date and accurate production and completion data with highly sophisticated well-spacing and subsurface data is unique," said Peters. "Geologists, completion, reservoir, and production engineers now have a single source for complete data and sophisticated analytics."
"We utilized Novi's analytics software to help drive the sale of Primexx Operating to Callon Petroleum in late 2021," said Samuel Blatt, CEO of newly formed Blue Ox Resources. "With the acquisition of ShaleProfile, Novi now offers a fully integrated data & analytics software platform. We are pleased to be among the first to leverage this integrated platform to facilitate the evaluation and optimization of oil & gas assets from potential to production."
About Novi Labs
Novi Labs, Inc. ("Novi") is the leading developer of artificial intelligence-driven business applications that help the oil & gas industry optimize the economic value of drilling programs. Leveraging cutting-edge data science, Novi delivers intuitive analytics that simplifies complex decisions with actionable data and insights needed to optimize capital allocation. Novi was founded in 2014 and is headquartered in Austin, TX. For more information, please visit https://www.novilabs.com.
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Original Source: Novi Labs Announces the Acquisition of ShaleProfile
