NextOil International (NEXTOIL) Company Profile

Background

Overview

NextOil International, also known as NEXTOIL, is a privately held advisory firm specializing in the upstream oil and gas sector. Established in 2016, the company is headquartered in Katy, Texas, United States. NEXTOIL offers a comprehensive suite of services, including oil field development, reservoir studies, reserves intelligence, asset transaction due diligence, petroleum economics, and commercial and strategic advisory. The firm's mission is to transform oil reservoirs into reserves and economics swiftly with deep insights.

Mission and Vision

NEXTOIL's mission is to provide full-spectrum Technical-Economic-Commercial (TEC) advisory and intelligence services to the upstream oil and gas sector. The company aims to bridge the gaps among technical, economic, and commercial disciplines in the upstream business, thereby optimizing field development, reserves, and investment efficiencies.

Primary Area of Focus

The company's primary focus is on upstream oil and gas operations, offering services that encompass the entire project lifecycle—from initial planning and design to procurement, construction, and installation. NEXTOIL leverages cutting-edge technology and financial resources to deliver complete project packages, ensuring world-class engineering expertise and innovative technology solutions.

Industry Significance

NEXTOIL has established itself as a recognized leader in oil field analytics, having been awarded the "Recognised Leaders in Oil Field Analytics 2020 - USA" by Corporate Vision Magazine. The company's innovative use of data sciences and artificial intelligence, particularly through its proprietary NEXT-ai™ intelligence engine and OilGRID™ database, has advanced the oil and gas sector to a new level.

Key Strategic Focus

Core Objectives

NEXTOIL's strategic objectives include:

• Optimizing Field Development: Utilizing advanced technologies and methodologies to enhance the efficiency and effectiveness of field development projects.

• Enhancing Reserves Intelligence: Providing accurate and insightful reserves evaluations to inform strategic decision-making.

• Supporting Asset Transactions: Offering technical due diligence and advisory services to facilitate successful asset transactions.

• Advancing Petroleum Economics: Delivering comprehensive economic analyses to support investment decisions and maximize returns.

Specific Areas of Specialization

NEXTOIL specializes in:

• Oil Field Development and Reservoir Studies: Conducting in-depth analyses to inform development strategies and optimize reservoir performance.

• Reserves Intelligence: Providing detailed evaluations and certifications of oil and gas reserves.

• Asset Transaction Due Diligence: Offering technical assessments to support buy-side advisory in asset transactions.

• Petroleum Economics: Performing economic analyses to guide investment decisions and enhance project viability.

Key Technologies Utilized

NEXTOIL employs several proprietary technologies and platforms, including:

• NEXT-ai™ Intelligence Engine: An on-premises artificial intelligence engine that integrates data science and machine learning to provide actionable insights.

• OilGRID™ Database: A comprehensive database that supports advanced analytics and decision-making processes.

• ROS™ & RIS™ Platforms: Proprietary platforms designed to optimize field development and reserves management.

Primary Markets or Conditions Targeted

NEXTOIL primarily targets the upstream oil and gas sector, focusing on:

• Conventional and Unconventional Resources: Providing services across various resource types, including both conventional and unconventional oil and gas plays.

• Global Operations: Serving clients in regions such as the Middle East, Central Asia, Canada, and Africa.

Financials and Funding

Funding History

Specific details regarding NEXTOIL's funding history, total funds raised, and recent funding rounds are not publicly disclosed. The company operates as a privately held entity, and such financial information is typically confidential.

Notable Investors

Information about individual investors or investment firms backing NEXTOIL is not publicly available.

Intended Utilization of Capital

While specific details on the utilization of capital are not disclosed, it is reasonable to infer that NEXTOIL invests in:

• Technological Development: Enhancing proprietary platforms like NEXT-ai™ and OilGRID™.

• Global Expansion: Extending services to new markets and regions.

• Talent Acquisition: Recruiting experts in data science, engineering, and petroleum economics.

Pipeline Development

As an advisory firm, NEXTOIL does not have a product pipeline in the traditional sense. Instead, the company focuses on delivering tailored services to clients, which may include:

• Customized Reservoir Studies: Conducting detailed analyses based on client-specific needs.

• Bespoke Economic Evaluations: Providing economic assessments for individual projects or portfolios.

• Strategic Advisory Services: Offering guidance on asset transactions, field development strategies, and commercial negotiations.

Technological Platform and Innovation

Proprietary Technologies

• NEXT-ai™ Intelligence Engine: An artificial intelligence engine that integrates data science and machine learning to provide actionable insights for oil field development and reserves management.

• OilGRID™ Database: A comprehensive database that supports advanced analytics and decision-making processes in the oil and gas sector.

Significant Scientific Methods

• Data Analytics: Utilizing advanced data analytics to interpret complex geological and reservoir data.

• Machine Learning Algorithms: Applying machine learning techniques to predict reservoir behavior and optimize field development strategies.

AI-Driven Capabilities

NEXTOIL's AI-driven capabilities, particularly through the NEXT-ai™ intelligence engine, enable the company to:

• Enhance Decision-Making: Provide data-driven insights that inform strategic decisions.

• Optimize Reservoir Management: Predict reservoir performance and inform development plans.

• Streamline Asset Transactions: Offer accurate valuations and assessments to support buy-side advisory.

Leadership Team

Key Executives

• Dr. Allan Chen, PE – Co-Founder

• Professional Background: Ph.D. in Petroleum Engineering from Stanford University. Previous roles include Managing Director at ROC Oil, Manager and Reserves Specialist at QRI, and Senior Reservoir Engineer at Ryder Scott.

• Contributions to NEXTOIL: Dr. Chen co-founded NEXTOIL and has been instrumental in leading field development and reserves projects globally.

• Dr. Peter Christman – Chief Advisor

• Professional Background: Ph.D. in Chemical Engineering from the University of Texas, Austin. Former Manager of Unconventional Center at Shell and Chief Engineer at QRI.

• Contributions to NEXTOIL: Dr. Christman serves as Chief Advisor, leveraging his extensive experience in reservoir engineering to guide NEXTOIL's strategic direction.

• Jonny Pinto – Geoscience Lead

• Professional Background: M.S. in Geology from the University of Texas, Austin. Previous roles include Senior Geophysicist at Sterling Seismic and Senior Geologist at iReservoir.

• Contributions to NEXTOIL: Mr. Pinto provides analytical geosciences to support NEXTOIL's technical and commercial projects, contributing to structural mapping, basin analysis, and reservoir characterization.

Competitor Profile

Market Insights and Dynamics

The upstream oil and gas advisory sector is characterized by a competitive landscape with numerous firms offering specialized services. Key competitors include:

• NuTech Energy Alliance: Specializes in reservoir characterization and intelligence, offering services such as reservoir potential evaluation, opportunity validation, and reservoir optimization.

• EAG: Provides engineering, procurement, and construction services to the energy sector, focusing on project execution and management.

• ASRC Energy Services: Offers a range of services including engineering, procurement, and construction management for the energy industry.

Competitor Analysis

• NuTech Energy Alliance: Known for its advanced reservoir intelligence solutions, NuTech collaborates with NEXTOIL to provide comprehensive TEC services, combining NEXTOIL's reserves certification and intelligence with NuTech's reservoir characterization and intelligence.

• EAG and ASRC Energy Services: While not direct competitors, these firms operate in adjacent sectors, offering complementary services such as engineering and procurement, construction, and project management.