Oil-Law Records Corp. is sold to Texas firm

Austin-based Drillinginfo has agreed to buy Oklahoma City-based Oil-Law Records Corp. in a deal executives from both companies said will enhance services offered to their customers.

“What the industry is going to see is a much more intelligent way to get access to the information they need to make fast decisions,” Oil-Law Records CEO J. Brad McPherson told The Oklahoman on Tuesday. “Drillinginfo’s mantra is fast, intelligent decisions. Ours has been wealth of data.”

Financial terms were not disclosed.

Under terms of the deal, McPherson and the other 11 Oil-Law Records employees will keep their jobs, and the Oklahoma City office will continue to operate as normal, McPherson said. Drillinginfo has about 500 employees nationwide.

“We have worked together with Drillinginfo for a long time as a partner in data sharing,” McPherson said. “We’re two companies that fit together naturally.”

“The cool thing from our perspective is what the combined entities will bring to the oil industry. It will create ways to display and visualize our information that are going to be serious game changers for our end users.”

Oil-Law Records has been in business for 62 years. The company provides drilling and completion records and other data for law firms, oil companies and other customers. The company provides information for The Oklahoman’s daily drilling and completions report.

The combined company will provide better and additional offerings to its customers, Drillinginfo CEO Jeff Hughes said.

“Bringing our two resources together reinforces our commitment to meticulously capture data and produce meaningful intelligence,” Hughes said in a statement. “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.”