Novi Labs acquired Calgary-based Turing Analytics on 29 April, combining its US platform with Turing’s Canadian data set. The combination creates a unified analytical environment for evaluating upstream investments across North America, closing what Novi Labs called a long-standing gap in cross-border asset evaluation.
Together, Novi and Turing support operators and institutional investors managing tens of billions of dollars in annual upstream capital deployment across the region. Turing’s EVA platform is used by clients representing over 50% of Canada’s oil and gas production.
Capital allocation is increasingly managed across US and Canadian portfolios, where Lower 48 assets such as the Permian and Eagle Ford compete directly with Canadian basins, including the Montney and Duvernay. Despite this convergence, data and evaluation workflows have remained fragmented, forcing teams to reconcile data sets and forecasts before making investment decisions.
Novi said its platform is built on proprietary well-level data licensed from customers and artificial-intelligence (AI)-driven production forecasting models, enabling operators and energy investors to evaluate opportunities and allocate capital within a unified analytical framework. Embedded in evaluation workflows across US operators and investors, the framework is extended to Canada through the acquisition.
“Novi was founded on the belief that the best capital decisions come from forecasts built upon proprietary data and AI-driven models,” said Scott Sherwood, CEO of Novi Labs. “For a decade, we’ve proven that in the US market. Turing has proven it in Canada. Together, we close the last major gap in North American upstream intelligence and give investors on both sides of the border the ability to quickly evaluate opportunities.”
Turing Analytics developed its EVA platform in partnership with Canadian reservoir engineering firm McDaniel & Associates. EVA is designed to provide well-level forecasts, technical analysis, and engineering insight across Canadian basins and is embedded in evaluation workflows across operators, investors, and advisory firms.
“EVA began out of necessity,” said Brian Hamm, Turing’s CEO. “Modern well design and the multivariate analysis it demands had outgrown traditional tools, and we needed a better way. That challenge led Turing and McDaniel to build EVA and usher in a new era of reservoir and asset evaluation. From a standing start, we’ve grown to nearly 40 team members in 5 years, and, thanks to this exceptional team, EVA is now trusted by clients operating more than 50% of Canada’s production. We’re excited to take the next step with Novi Labs, combining the strengths of both companies to set a new standard for North American upstream analytics.”
The integrated platform now allows customers to assess assets across US and Canadian basins using a unified data set and modeling framework. This enables direct comparability across regions.