50% of Lower 48 Horizontal Production From Wells Drilled in Past 18 Months

Dear Subscriber,

We are excited to share our latest blog post, "Forecasting Pads with Spacing Variation: Standard vs Causal Models."??In this post, we explore the differences between standard associative models and causal models in forecasting well performance based on spacing variations in the Delaware Basin.

Causal inference is emerging as a powerful new framework for machine learning, but how does it perform in forecasting well-spacing scenarios? Our latest post uncovers why causal models offer more reliable insights for pad development. Read it here

In this week's newsletter, we also share:

• A must-read article by our VP of Product Management, Ted Cross: "The Youth of Lower 48 Production." Ted delves into the significant impact of newly drilled wells on Lower 48 production, revealing just how much of the region’s output is driven by recent wells.
• A summary of one of our blog posts, "How to Avoid Becoming a Frog in Boiling Water in Your Reservoir Engineering Career". This blog explores the impact of AI and machine learning (ML) on reservoir engineers. Are they a threat or a complement to the role? Whether you’re a reservoir engineer or simply curious about industry trends, this blog is for you.
• A new job opportunity! We’re looking for an Account Executive to join our sales team! Apply here
• We're growing rapidly and expanding our team across multiple departments. Visit our careers page to explore the six job openings available.

Enjoy the read!

Recent Wells Drive Half of Lower 48 Horizontal Output

Lower 48 production reveals a striking reality: approximately half of all horizontal oil output comes from wells drilled within just the past 18 months. This highlights the treadmill-like nature of modern oil production, where constant drilling is necessary to maintain output levels.

Forecasting Pads with Spacing Variation: Standard vs Causal Models

Causal inference is a powerful new framework for machine learning, but how does it stack up for forecasting well spacing scenarios? Our new blog post explores why causal models deliver more reliable insights for pad development. Read it now!

How to Avoid Becoming a Frog in Boiling Water in Your Reservoir Engineering Career

If you’re not actively integrating AI into your reservoir engineering workflows, you’re doing it wrong. You won’t lose your job to AI—you’ll lose it to a petroleum engineer using AI.

In this blog post, we discuss the ideology behind AI and ML, including concerns about job replacement and their implications for the oil and gas industry.

Read the full blog post: Reservoir Engineering in the Age of AI: Navigating the Changing Landscape

Texas vs. Georgia Tailgate

A big thank you to SPE Austin for organizing and to everyone who joined us at the Texas vs. Georgia tailgate last weekend!??We’re proud to have sponsored such a fantastic event and to have shared game day with you all. Until next time!

New Job Opening: Account Executive

We’re hiring an Account Executive to drive growth at Novi Labs. If you’re a self-starter with a proven track record in SaaS sales and love a collaborative work environment, this could be your next big move!? Apply here

Current Job Openings

We're growing rapidly and expanding our team across multiple departments. Visit our careers page to explore the six job openings available.

- Senior/Principal Analyst - Austin / Remote (North America)

As an analyst at Novi, you will be at the forefront of revolutionizing how operators and inventory are valued. Leveraging our advanced upstream data, cutting-edge inventory models, and machine learning tools, you will help pave the way to a new, more accurate method of benchmarking energy companies and forecasting future energy supply

-Senior Software Engineer (Python) - Remote / Austin TX

Novi Labs is looking for an experienced Senior Software Engineer with a passion for systems thinking and careful design. This role is for an engineer to support and further develop our market-leading machine learning platform for forecasting and optimization.

-Senior Java/Full-stack Engineer - US Remote

We are in search of a seasoned Java engineer that has a passion for sound design and engineering practices and is adept at making reasoned short-term vs long-term trade-offs.

-Senior Data Engineer - The Netherlands (Rotterdam)

We are seeking a skilled and passionate Senior Data Engineer to join our dynamic team. In this role, you will be responsible for building, expanding and optimizing data pipelines.

-Senior/Mid Data Engineer - US Remote

We are seeking a highly skilled and passionate Senior Data Engineer to join our dynamic team. In this role, you will be responsible for building, expanding and optimizing data pipelines and architectures.

Ready to see what’s under the hood and how Novi Labs can help you get valuable insights?

Book your personalized demo with our team: https://novilabs.com/request-a-demo/