The Oilers are owned by Andy Scurto, owner of the ECHL hockey franchise of the same name.

On July 26, 2022, Andy Scurto, owner of the Tulsa Oilers ECHL hockey team, announced that he had purchased an expansion franchise in the Indoor Football League set to begin play for the 2023 season.

[1] Although several fans had hoped for a return of the Tulsa Talons brand, Scurto stated that his preference was for the team to have an oil-related nickname.

[2] On August 16, the five name-the-team contest finalists were announced, Bison, Crude, Oilers, Tornado, and Wildcatters.

[4] On September 14, 2022, the Oilers announced that Marvin Jones would serve as the team's first head coach.