Acquisition brings together U.S. and Canadian upstream analytical datasets to support capital allocation decisions for operators and energy investors
AUSTIN, TX / ACCESS Newswire / April 29, 2026 / Novi Labs today announced the acquisition of Calgary-based Turing Analytics, the company behind EVA, a Canadian-focused upstream analytics and proprietary data platform. By combining its U.S. platform with Turing's Canadian datasets and technical expertise, Novi establishes a unified analytical environment for evaluating upstream investments across North America-addressing a longstanding 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 U.S. 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 remain fragmented, forcing teams to reconcile datasets and forecasts before making investment decisions. This fragmentation limits comparability across assets and leads to misallocated capital.
As high-quality inventory in the Lower 48 becomes more constrained and competition for assets intensifies, investors are expanding their focus to Canadian opportunities, often without a consistent framework for comparing assets across markets, raising the risk of misallocated capital.
Novi's platform is built on proprietary well-level data licensed from customers and 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 U.S. operators and investors, this framework is extended to Canada through the acquisition, bringing the same analytical and modeling framework to Canadian assets.
Turing Analytics developed EVA in partnership with McDaniel & Associates, one of Canada's leading reservoir engineering firms. EVA provides well-level forecasts, technical analysis, and engineering insight across Canadian basins and is embedded in evaluation workflows across operators, investors, and advisory firms.
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. This enables direct comparability across regions, improves prioritization of capital deployment, and increases confidence in cross-border investment decisions.
Scott Sherwood, CEO, Novi Labs:
"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."
Brian Hamm, CEO, Turing Analytics:
"EVA began out of necessity. 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 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."
About Novi Labs
Novi Labs is the leading AI-driven energy analytics platform redefining how energy operators and investors make high-stakes capital decisions. Built on proprietary machine learning, exclusive datasets, and deep reservoir expertise, Novi delivers the industry's most accurate well-level forecasts and development insights. Many leading E&P operators and mineral owners rely on Novi, with billions in monthly capital decisions flowing through the platform. Novi is headquartered in Austin, Texas.
www.novilabs.com
About Turing Analytics
Turing Analytics is a Calgary-based technology company and developer of EVA, a cloud-based upstream analytics platform built in partnership with McDaniel Research. EVA integrates geological, engineering, and production data to support decision-making across the Canadian energy sector.
https://www.turinganalytics.net/
Contact Information
Mohamed El Hannaoui
VP of Marketing
mhannaoui@novilabs.com
512.368.9042
SOURCE: Novi Labs
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/novi-labs-acquires-turing-analytics-to-establish-a-unified-north-american-platfo-1162027
