Wood Mackenzie announced a strategic agreement with Novi Labs to improve the accuracy and depth of its Lens Lower 48 database by integrating proprietary production data and lease-to-well algorithms developed by Novi. This partnership enhances Wood Mackenzie’s analytical capabilities in the US upstream market, one of the most complex and volatile worldwide.
Unrivalled coverage of unconventional basins
Through this collaboration, Wood Mackenzie’s clients will gain access to detailed data from more than 25,000 wells in key states such as Texas, Oklahoma, and Louisiana. These wells represent a significant share of the 4.4 million drillings recorded in the Lower 48 region, which generates more than one-fifth of global hydrocarbon supply. Novi’s algorithms, powered by actual well data collected from field operators, provide precise mapping of oil, gas, and water production at the well level.
Decision tools suited to current requirements
Data reliability has become critical for investments in the US upstream sector, as operators focus on optimising their portfolios and developing infill wells in mature basins. Even small forecasting errors can significantly impact valuation models and capital allocation decisions.
Clients will also benefit from Wood Mackenzie’s proprietary cost models, covering 37 drilling and completion subcategories, allowing for detailed regional analyses. The integration of Novi’s data is also designed to facilitate the use of artificial intelligence, making data flows compatible with machine learning tools and large language model interfaces within companies.
Enhanced access for investors and producers
The goal of this partnership is to offer a comprehensive alternative to traditional providers, often costly and less flexible. The combination of Novi’s data precision and Wood Mackenzie’s sector expertise enables investors, producers, and financial institutions to access structured intelligence to better manage volatility, identify opportunities, and drive consolidation strategies in the world’s largest oil and gas market.
