Novus Consulting on Oil and Gas Startups

04/08/24 • 35 min

Kate Stevenson from Novus Consulting joins us to unpack the crucial role of data and tech in modernizing the energy industry. With experience from Accenture to Chesapeake, Kate’s seen it all—she’s now using that expertise at Novus to tackle one of the industry’s biggest challenges: data management. Clean, organized data is the bedrock for everything from AI to streamlined operations, and Kate breaks down how Novus helps energy companies get their data in order, even during tricky M&A transitions. We also dive into the future of field operations tech, from automating workflows to optimizing lease operator tasks. Kate shares insights on the midstream sector’s shift towards SaaS and standardized processes, creating real efficiencies and cost savings. Plus, she touches on Bitcoin mining's unexpected ties with energy management, hinting at new synergies between oil and crypto. It’s a fascinating look at how data and tech are reshaping energy, and Kate’s here to guide us through it.

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00:00 - Intro
01:03 - Novas Consulting Overview
01:41 - Kate’s Professional Background
05:44 - Passion for Consulting
07:33 - Due Diligence in M&A
09:18 - Surprises in the Consulting Industry
13:08 - Breaking Departmental Silos
16:53 - Current Industry Conversations
20:37 - Impact of AI in Consulting
22:58 - Staying Relevant in Consulting
23:50 - Industry Leaning Trends
25:10 - Independents vs Super Majors
27:10 - Data Contextualization for AI
29:00 - M&A Season Insights
30:20 - Midstream vs Upstream Analysis
31:30 - Bitcoin Mining Overview
33:17 - Energy Implications of Bitcoin Mining
33:45 - Complexity in Energy Markets
34:02 - Closing Remarks

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Previous Episode

Fueling the Future: The PetroVybe Story with Peter Snell

Peter Snell from PetroVybe joins us to share how his company is redefining what it means to be an oil and gas operator. For Peter, it’s about more than just drilling—it’s about stewardship, innovation, and creating real, lasting value. From his days as a business fixer to founding PetroVybe, Peter’s approach is deeply influenced by his faith and a philosophy that prioritizes sustainable, responsible growth. We dive into the challenges of fundraising in an evolving industry and PetroVybe’s business model, which focuses on reinvestment to build critical mass in production. Peter’s got a five-year vision for PetroVybe: scale up sustainably, stay disciplined, and fuel the future with a purpose. This episode is all about how PetroVybe is looking beyond the traditional oil and gas playbook to make a meaningful impact.

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00:00 - Intro
01:24 - PetraVibe Overview
05:32 - Why Operator Concept
14:40 - Business Model Explained
14:55 - Vision and Strategic Planning
19:58 - Business Model Insights
23:39 - Business Model Discussion
27:55 - Alternatives to Buying PDP
29:58 - Future of Petro Insights
31:56 - Fundraising Experience
35:10 - Closing Remarks

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Next Episode

Iconic Air on Oil and Gas Startups

Kyle from Iconic Air is back with us, and a lot has changed since his early days pitching the company at a West Virginia University business competition. Fast forward, Iconic Air has now raised $5 million in venture funding and is tackling the growing carbon accounting needs of oil and gas operators. With new SEC regulations making carbon data as crucial as financials, and the IRA bill introducing stricter emissions standards, carbon accounting is no longer just a checkbox—it’s reshaping how companies operate and attract capital. Iconic Air is stepping up with a “Turbo Tax” approach for carbon data, making compliance straightforward for operators of any size. Kyle shares insights on how they’re navigating evolving frameworks from the EPA and SEC, the rising demand for certified clean energy, and why carbon transparency is becoming a competitive edge. As carbon accounting shifts from a regulatory burden to a business necessity, Iconic Air is ready to support operators on this journey toward sustainability.

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00:00 - Intro
01:00 - What is Iconic Air
01:45 - SEC Carbon Accounting Regulation
03:45 - EPA Subpart W Quad O Compliance
06:15 - Private Market Demand for Carbon Credits
13:25 - Onboarding Process Overview
18:05 - Startup and Operator Disconnects
21:00 - Origin Story of Iconic
23:31 - Raising $5 Million for Iconic
25:25 - Positive Macro Trends for Iconic
28:45 - Evolution of Collide Pro from Bullpen
31:15 - Challenges Faced by Iconic
33:00 - Funding and Support Needs

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