AUSTIN, Texas, Nov. 7, 2017 /PRNewswire/ -- Drillinginfo, the energy industry's leading SaaS and data analytics company, has acquired Oklahoma City-based Oil-Law Records (OLR), one of the first oil and gas industry information providers in the U.S. Throughout its 62-year history, Oil-Law Records has developed an unrivaled reputation for quality records-keeping and timely updates used in the exploration and production of oil and gas.
The combination of Oil-Law Records' data and Drillinginfo's cutting edge information, software and analytical solutions provide a solid foundation for the discovery phase of leasing and drilling activity, which helps landmen, geologists, engineers, regulatory compliance teams and others involved in the Authorization for Expenditure (AFE) process.
"Bringing our two resources together reinforces our commitment to meticulously capture data and produce meaningful intelligence. This serves a diverse mix of stakeholders – from landmen to lawyers and planning to permitting teams – and drives efficiencies for those focused on doing more with less, a critical goal of every company in energy right now," said Jeff Hughes, CEO of Drillinginfo.
OLR's Source spacing database is the only fully interpreted database of spacing information in existence. With it, users have the power to quickly tie together historical spacing information up and down geological strata – across geography and across time – which establishes new spacing and reveals opportunities for well development and in-fill drilling.
In addition to its proprietary database of historical spacing units and expertise in regulatory processes unique in these basins, Oil-Law Records was instrumental in digitizing New Mexico's historic well records, hearing and administrative orders. The result is an extremely robust database with tens of thousands of New Mexico well records that are proprietary to OLR, as the originals were destroyed by the state commission in the early 2000s.
"The pairing of these two highly complementary systems clearly demonstrates that the sum is greater than its parts," said J. Brad McPherson, Chief Executive Officer of Oil-Law Records Corporation. "We've worked with Drillinginfo as partners for more than ten years. Adding our historical data to DI's best-in-class solutions is something that will benefit everyone interested in Oklahoma and New Mexico, including the SCOOP/STACK, and Permian Basins," said McPherson.
Drillinginfo is the leading energy SaaS and data analytics platform that provides predictive tools and technology to drive exploration decisions, evaluate rapidly evolving opportunities and achieve better, faster results. The company delivers actionable intelligence over mobile, web and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. Drillinginfo serves more than 3,000 companies globally from its Austin, Texas headquarters and has more than 400 employees. For more information visit drillinginfo.com.
About Oil-Law Record:
Founded in 1955, Oil-Law Records provides the oil and gas industries of Oklahoma and New Mexico with innovative efficient solutions to address information gathering challenges. Every day, Oil-Law Records compiles, analyzes and abstracts state-level oil and gas filings and distributes that information to thousands of end users. OLR allows its users to harness the most precious of all assets: time. For additional information, please see www.oil-law.com.