Since our beginning, OLR has been squarely focused on innovation; firmly rooted in the day-to-day aspects of delivering relevant and useful information to clients but always diligently pursuing the industry’s latest technology and trends.
As the most respected data provider and partner to the oil and gas industry, OLR invites you to take a look at a brief history of the company so far. For it is only by understanding OLR’s imaginative past that you can fully grasp the company’s innovative future.
Oil-Law Records Corporation was founded in 1955 by three oil and gas men who were among the most gifted innovators in the history of this industry. These men all were products of the regulatory and engineering braintrust at Amoco Production Company (then called Stanolind Oil and Gas, now a part of British Petroleum): Barth Walker, Jim Ramsey and Paul Peterson.
The inspiration for Oil-Law Records began during the trio’s tenure as the key members of Amoco's Oklahoma Regulatory and Legal team in the late 1940’s. At that time, the volume of oil and gas regulatory filings at the OCC – spacing and pooling orders, field rules, enhanced recovery units and such – was growing so rapidly and becoming so complex that it became nearly impossible to understand them.
These pro-oil and gas regulations not only encouraged continued drilling but made Oklahoma an industry leader in protecting correlative rights of adjacent operators and owners. But even with this neatly-organized, well-connected system for charting the development of oil and gas zones via a trackable unitization system, the complexities of correctly reporting and identifying them for regulatory compliance proved to be increasingly difficult.
The Early Years
This growing complexity inspired these three Oil-Law Records (OLR) visionaries to construct a more organized and user-friendly records system; one that would allow the applicant to research the body of filings and correctly note the related precedent, allowing for a building block approach to developing existing oil and gas zones or establishing new zones.
OLR founders envisioned a system that could track each filing from application stage to final order, recording them in a way that would allow every filing to be easily researched on a legal-description basis. OLR set out to create a powerful and unique method for indexing spacing orders; one that would allow a legal/geological index to be created and maintained on every spacing order filed. This index would accurately track the development of a productive oil and/or gas zone from its origin through full development, over time and distance, up and down the strata, from any surface location. From this vision, the company’s Source Numbering System was born.
Through succeeding decades and into the 1980's, Oil-Law Records saw the number of spacing filings boom and, with their increased volume, the Source Numbering System became more important than the founders ever imagined.
Today, OLR’s one-of-a-kind system combines 100-plus years of data and hundreds of thousands of separate ‘information threads’ to paint the most complete picture of Oklahoma Corporation Commission spacing data in existence.
Two Key Acquisitions
During the past 20 years, two strategic business mergers played a crucial role in allowing OLR to emerge as the industry’s most trusted information resource.
In 1996, OLR merged with Oklahoma-based PLC Energy Data Company, an oil and gas land consulting and development firm. PLC had captured and digitized the entire body of OCC regulatory filings – approximately three million document pages – at the time the largest private operational and financial commitment in Oklahoma energy data history.
Five years later, OLR acquired RealityGrid, the private sector company created by the University of Oklahoma to market their extensive Natural Resource Inventory System (NRIS) – the state’s largest, most-detailed database ever created on Oklahoma wells and production.
Both acquisitions not only added volumes of raw well records, a sophisticated digital mapping platform and enhanced production data to OLR, but also superior capture, digitization and distribution capabilities that clients quickly embraced and accessed.
Leveraging today’s easy-to-use Internet-based tools to access a repository of tens of millions of document pages, global clients are discovering the length, depth and breadth of the information and services offered by Oil-Law Records Corporation.