[Webinar] Why did Devon Energy bet $5 billion on the Bakken instead of the Permian?

Dear Subscriber,

We’re excited to invite you to our upcoming webinar, “Devon's Bakken Gambit: Cracking the $5 Billion Grayson Mill Acquisition Puzzle” with Brandon Myers. Register here >>.

In this week's newsletter, we also have:

• The latest episode of the Weekly Workflow with Scott Iceton, exploring production profiles pre and post M&A. Watch it here >>.

• Our new blog series, "When Numbers Lie: What Permian Basin Spacing Trends Don’t Tell Us About Well Performance," by Kiran Sathaye. You can read it here >>.

• A sneak peek of Ted Cross's SPE Oklahoma presentation, "Unraveling the Drivers of Parent-Child Depletion with Machine Learning." Read it here >>.

• A must-read article by our VP of Product Management, Ted Cross: "Uinta: The Next Great Oil Play?"

Enjoy the read and don’t forget to sign up for our webinar!

[Webinar]? Devon's Bakken Gambit: Cracking the $5 Billion Grayson Mill acquisition puzzle

Why did Devon Energy bet $5 billion on the Bakken instead of the Permian?

Join our webinar to uncover the strategy behind this industry-shaking move. Our head of research, Brandon Myers, will use cutting-edge machine learning analytics to examine Devon's acquisition of Grayson Mill Energy's assets. We'll explore rock quality comparisons, portfolio impacts, and operational synergies to decode this pivotal decision.

Whether you're an investor, analyst, or industry enthusiast, don't miss this data-driven dive into one of the year's most intriguing oil and gas developments.

[Weekly Workflow] Analyzing Production Profiles Pre and Post M&A

With M&A deals reshaping our industry, how do you contextualize their true impact? Join Scott Iceton as he demonstrates how to easily explore production profiles pre and post-acquisition, analyze results by the original operator, and compare production and GORs over time across various assets and acreage. See pad designs and quickly export results for in-depth analysis with prejoined Subsurface and Spacing extractions—all with just a few clicks!

[Blog] When Numbers Lie: What Permian Basin Spacing Trends Don’t Tell Us About Well Performance

Explore the complexities of well performance and spacing in the Permian Basin with our in-depth analysis. Find out how Novi's algorithms are designed to overcome these challenges. Read the blog post here.

[SPE Workshop] Unraveling the Drivers of Parent-Child Depletion with Machine Learning

Struggling with Parent-Child Depletion in Unconventionals?

Discover how Ted Cross, tackles one of the toughest challenges in the industry. Learn about the key factors influencing infill performance and how our data-driven approach can optimize your development planning.

You can download the full presentation here.

Uinta: The Next Great Oil Play?

With aggregate production over 100,000 barrels a day and per-well performance comparable to the Permian, the Uinta Basin unconventional plays have arrived. But with a unique geologic setting in an ancient lake, how much can we learn from other plays like the Permian?

Here, I'm plotting 1-year well performance for the Uinta, Delaware, Williston, and Midland Basins. You'll notice that average performance in the Uinta (for wells since 2019) just beats out the other basins, though there still a large spread in outcomes.

The Lower Green River / Upper Wasatch of the Uinta Basin is unique in that the rocks were deposited in a lacustrine setting, rather than a marine like the other plays shown here. Because of this, the wells produce a waxy crude oil that solidifies at room temperature, and traditional geologic analysis doesn't neatly cross-apply.

In this URTeC study with geologists from XCL Resources--a leader in the play--we combined detailed geologic analysis with machine learning models to unpack performance drivers.

Interestingly, the Uteland Butte, a more "unconventional" zone in the Lower Green River, showed strong performance influence from factors like overpressure and organic porosity, in addition to operator-controlled factors like completions design. The Castle Peak, a more conventional zone, was relatively more influenced by geological factors rather than operator-controlled ones.

In comparison with the Permian and Williston, the Uteland Butte showed broadly similar modeled responsiveness to intensive completions and development densities. With thousands of feet of stacked pay zones, the future is bright for the play.

Thanks to authors Josh Sigler and Luke Fidler for their work on this study! You can download the paper here.

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-for-demo/