Drillinginfo Strengthens Its Solutions Around Well Spacing, Unitization and Historical Well Records in Oklahoma and New Mexico
Energy software giant acquires Oil-Law Records of Oklahoma
Media Contact: Jon Haubert | 303.396.5996
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 delivers business-critical insights to the energy, power, and commodities markets. Our state-of-the-art SaaS platform offers sophisticated technology, powerful analytics, and industry-leading data. Our solutions deliver value across upstream, midstream and downstream markets, empowering exploration and production (E&P), oilfield services, midstream, utilities, trading and risk, and capital markets companies to be more collaborative, efficient, and competitive. Drillinginfo delivers actionable intelligence over mobile, web, and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. Drillinginfo serves over 3,500 companies globally from its Austin, Texas, headquarters and has approximately 650 employees. For more information visit drillinginfo.com.