Novi Labs, an AI-driven energy analytics platform, has acquired Calgary-based Turing Analytics, the company behind EVA, a Canadian-focused upstream analytics and proprietary data platform, to create a unified analytical environment for evaluating upstream investments across North America.
Together, Novi and Turing support operators and institutional investors managing tens of billions of dollars in annual upstream capital deployment. Turing’s EVA platform is used by clients representing over 50% of Canada’s oil and gas production. EVA was developed in partnership with McDaniel & Associates, one of Canada’s leading reservoir engineering firms, and provides well-level forecasts, technical analysis, and engineering insight across Canadian basins.
The acquisition addresses a longstanding gap in cross-border asset evaluation, where capital allocation is increasingly managed across U.S. and Canadian portfolios but data and evaluation workflows remain fragmented. The integrated platform enables customers to assess assets across U.S. and Canadian basins using a unified dataset and modeling framework without switching systems or reconciling separate outputs, improving prioritization of capital deployment and confidence in cross-border investment decisions.
KEY QUOTES:
Novi was founded on the belief that the best capital decisions come from forecasts built upon proprietary data and AI-driven models. For a decade, we’ve proven that in the U.S. 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.
Scott Sherwood, CEO, Novi Labs
EVA began out of necessity. Modern well design and the multivariate analysis it demands had outgrown traditional tools, and we needed a better way. From a standing start, we’ve grown to nearly 40 team members in five 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.
Brian Hamm, CEO, Turing Analytics
