Land management is an increasingly more important concern for those in the oil and gas industry. A new data management system will help companies better organize property records.
CoreLogic, a leading global property information, analytics and data-enabled services provider, has introduced a new land records management solution that is the first single source of location information and property characteristics data for the oil and gas, utilities and telecommunications industries. SpatialRecord integrates CoreLogic parcel-level spatial data with the company’s vast property-level database to provide expanded data analysis and more granular information.
The patented technology used to create SpatialRecord technology converts raw data into easily digestible information that can be leveraged to make more informed exploration, planning, serviceability and compliance process decisions. SpatialRecord, appends and normalizes location information and property characteristic data that is often otherwise dispersed across a variety of sources so that it’s ready for client use quickly and without further analysis required.
“Whether managing field infrastructure, planning the path of a new transmission line or managing legal compliance and risk, it’s vital for oil and gas, utility and telecommunications companies to have access to complete information to make critical decisions quickly and accurately,” said Jay Kingsley, senior vice president for CoreLogic Spatial Solutions. “This integration of location information and property-specific data, combined with the quick turnaround and comprehensive front-end analysis, puts crucial information at a user’s fingertips, reducing the time and resources required and allowing a greater focus on core business activities.”
SpatialRecord provides highly granular data that is updated daily from more than 4,700 sources on 99 percent of properties throughout the U.S. In addition to combining the data sets into a single, ready-to-use resource, the expanded integration of CoreLogic spatial and property-level data includes:
- Land property use, as well as the actual and effective year a structure was built on the property.
- Land, structure and property valuation and tax information.
- Property and structure area.
- Construction and structure details, including specifics on the type of foundation, roof covering used, the number of bathrooms and the number of fixtures in each.
- Mailing addresses that coincide with site addresses, which can help prevent delays and mistakes in compliance processes and communications.
- Both first and last names of primary property owners, as well as first and last names of secondary property owners to increase accuracy in identifying and communicating with land owners.
“Combining the most granular property characteristics with parcel-level accuracy not only saves time and money, but also improves efficiencies in the complex processes of planning, exploration and compliance,” said Kingsley. “And the benefits extend to land and property owners as well. With a more comprehensive record of a property in hand, these companies are better positioned to work more effectively, minimize errors or disruptions and provide a higher level of service to individual land owners.”