DeGolyer and MacNaughton
DeGolyer and MacNaughton is a privately held, Dallas-based international petroleum consulting firm founded in 1920, providing independent reserves evaluations, reservoir modeling, competent person's reports, and technical advisory services to oil and gas companies, national oil companies, and governments across more than 100 countries.
- Company typePrivate
- Founded1920
- HeadquartersDallas, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What DeGolyer and MacNaughton does
DeGolyer and MacNaughton (D&M) is a privately held, Dallas-headquartered international petroleum consulting firm founded in 1920. The firm provides independent technical assessments — reserves evaluations, reservoir modeling, geologic and petrophysical analyses, competent person's reports (CPRs), development planning, production enhancement consulting, and SEC/SPE-PRMS financial reporting guidance — to oil and gas companies, national oil companies, governments, and financial institutions across more than 100 countries and six continents. Its service portfolio has expanded beyond core hydrocarbon work to include ESG and greenhouse gas estimation, carbon sequestration certification (SRMS), critical minerals assessment, LNG advisory, and geothermal resource evaluation, including the first-ever Enhanced Geothermal Systems reserves report for Fervo Energy.
D&M's methodology blends energy economics, engineering, and earth sciences, supported by what the firm describes as the largest, most experienced team of professional reservoir consultants in the industry (many with 25+ years of tenure). Proprietary analytical assets include the ProPerIntel intelligence platform and diagnostic-based unconventional resource evaluation methodologies (developed in collaboration with KAPPA Engineering via the Citrine production analysis module) that have been applied to over 40% of North American unconventional wells. The firm delivered the independent reserves audit underpinning Saudi Aramco's $29.4 billion 2019 IPO and has been appointed by OPEC+ to audit Maximum Sustainable Capacity for 19 of 22 member countries for the 2026 cycle.
D&M's revenue model is professional services fees billed per engagement, with scope, complexity, and geography driving pricing; the firm explicitly does not disclose pricing publicly. It operates through direct enterprise field-sales engagements, delivered by senior professional staff across offices in Dallas (HQ), Houston, New Delhi, Algiers, Astana, Buenos Aires, Baku, and Madrid, with no resellers or distribution intermediaries. Customer concentration leans toward major international and national oil companies — SOCAR, Gazprom Neft, NOVATEK, EOG Resources, Harbour Energy, Ecopetrol, Antero Resources, Aramco — alongside a growing footprint of geothermal and clean-energy clients.
DeGolyer and MacNaughton firmographics
Firmographics- Name
- DeGolyer and MacNaughton
- Legal name
- DeGolyer and MacNaughton Corporate
- Website
- https://demac.com
- Company type
- Private
- Founded year
- 1920
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- DeGolyer and MacNaughton is a privately held, Dallas-based international petroleum consulting firm founded in 1920, providing independent reserves evaluations, reservoir modeling, competent person's reports, and technical advisory services to oil and gas companies, national oil companies, and governments across more than 100 countries.
- Ownership category
- akta.pro rank
DeGolyer and MacNaughton industry classification
Industry- Product category
- Petroleum Consulting Services
- NAICS
- Support Activities for Mining (2131), Geophysical Surveying and Mapping Services (541360), Environmental Consulting Services (54162)
- SIC
- Oil & Gas Field Exploration Services (1382), Oil & Gas Field Services, Nec (1389)
- akta.pro primary industry
- Field Development Planning & Subsurface Reservoir Engineering (EUALAAAC)
- akta.pro secondary industries
- Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH), Seismic & Geoscience Services (Acquisition, Processing, Interpretation) (EUALABAK), Geotechnical & Subsurface Engineering Consulting (BPAHAIAB), Corporate & Voluntary Procurement Policy (PPAs, Green Tariffs, 24/7 CFE) (EUAMANAH)
Keywords
Where DeGolyer and MacNaughton is headquartered
LocationHeadquarters
- HQ city
- Dallas
- HQ country
- United States
- HQ region
- North America
Offices8 records
Markets served
DeGolyer and MacNaughton business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Petroleum Consulting Services: Professional consulting fees for reserves evaluations, reservoir modeling, geologic analyses, competent person's reports, development planning, and financial reporting guidance provided to oil and gas companies, governments, and financial institutions worldwide.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
DeGolyer and MacNaughton product offering
Product offeringCore offering
DeGolyer and MacNaughton is an independent international petroleum consulting firm providing unbiased technical assessments including reserves evaluations, reservoir simulation, unconventional resources consulting, competent person's reports, geologic and petrophysical analyses, development planning, and production enhancement consulting to oil and gas companies, governments, and financial institutions in more than 100 countries. The firm blends energy economics, engineering, and earth sciences to support exploration, recovery, and management decisions for petroleum resources, including extended capabilities in ESG, carbon sequestration, geothermal resources, critical minerals, and LNG advisory.
Product overview
DeGolyer and MacNaughton is an international petroleum industry consulting firm that operates as a single integrated service offering rather than a platform-plus-modules architecture. The firm provides a comprehensive portfolio of consulting services including reserves evaluations, reservoir simulation, unconventional resources consulting, enhanced oil recovery, geothermal resources evaluation, and ESG/greenhouse gas estimation. These services are delivered by a team of professional reservoir consultants who work across more than 100 countries, blending energy economics, engineering, and earth sciences to provide unbiased analysis for exploration, recovery, and management of oil and gas resources. The firm also offers specialized products such as ProPerIntel for industry intelligence, along with reference materials including oil and gas price data and SEC compliance documentation.
Differentiator
Problem solved
Functional benefit
Brands
- ProPerIntel: A proprietary intelligence platform or service offered by DeGolyer and MacNaughton
- Geothermal Resources
- SEC Compliance Services
Products and services
- Reserves Evaluations Independent evaluation and certification of oil and gas reserves (proved, probable, and possible) for financial reporting, SEC compliance, and corporate decision-making purposes.
- Reservoir Simulation Advanced reservoir modeling and simulation services to analyze fluid flow, predict reservoir behavior, and optimize field development strategies.
- Unconventional Resources Consulting Specialized consulting services for the evaluation and assessment of unconventional oil and gas resources, including tight gas, shale gas, and basin-centered gas deposits.
- Enhanced Oil Recovery Consulting Consulting services focused on improving oil recovery factors through advanced recovery techniques including water flooding, gas injection, and chemical EOR methods.
- ESG and Greenhouse Gas Estimation Environmental, social, and governance consulting including greenhouse gas emission estimation and reporting for petroleum assets.
- Storage Certification Certification services for storage facilities and projects, including evaluation of storage capacity and safety standards.
- Carbon Sequestration and SRMS Assessment Assessment and evaluation services for carbon capture and sequestration projects, including Storage Resource Management System (SRMS) certification.
- Prospective Resources Evaluation Independent evaluation of undiscovered oil and gas resources, assessing the potential and commercial viability of exploration prospects.
- LNG Consulting Specialized consulting services for liquefied natural gas (LNG) projects including feasibility studies, market analysis, and technical evaluation.
- ProPerIntel A proprietary intelligence product providing analysis and insights for petroleum industry decision-making.
- Critical Minerals Consulting Consulting services for the evaluation of critical mineral resources within reservoir brines and traditional hydrocarbon assets.
- Geothermal Resources Consulting Independent evaluation and reserves reporting for enhanced geothermal systems (EGS) and conventional geothermal resources, including the world's first reserves report on EGS for Fervo Energy.
- Competent Person's Reports (CPR) Independent Competent Person's Reports for M&A transactions, regulatory filings, and stock exchange listings, providing certified reserves and resources estimates (e.g., Harbour Energy's Wintershall Dea portfolio certified at 1,117 mmboe 2P reserves).
- Development Planning and Production Enhancement Consulting Field development planning, geologic and petrophysical analyses, and production enhancement consulting for oil and gas field optimization.
- Financial Reporting and SEC Compliance Consulting Guidance with financial reporting issues and financial forecasting for petroleum discoveries to support SEC compliance and SPE-PRMS reserves disclosure.
Quantifiable outcome
- D&M's EGS reserves methodology confirmed 50-60% thermal recovery factors, tripling conventional geothermal technology recovery rates
- +2 more outcomes
Companies that use DeGolyer and MacNaughton
Customer profileNamed customers11 records
Segments4 records
Ideal customer profiles4 records
DeGolyer and MacNaughton technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
DeGolyer and MacNaughton partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- SOCARcoreD&M and SOCAR (State Oil Company of the Azerbaijan Republic) have an established partnership for hydrocarbon reserve estimation and evaluation, as well as optimization of oil and gas field development plans. On November 14, 2025, SOCAR President Rovshan Najaf met with D&M CEO John Wallace to review ongoing joint projects and explore new opportunities in innovative reserve-assessment technologies and digitalization. The partnership includes a 2017 agreement for D&M to review 20 oil field development plans, recommend production enhancement and recovery factor improvements.
- Gazprom NeftcoreGazprom Neft entered into a multi-year agreement (2018-2020) with D&M for selection and utilization of enhanced oil recovery (EOR) techniques at the Priobskoye field in West Siberia. D&M specialists analyze field history, assess production increase potential, evaluate oil recovery factor improvements, and formulate recommendations for realizing potential. Implementation is expected to increase oil recovery factor by 5-6%. Gazprom Neft has worked with D&M for more than 10 years on annual reserves audits.
- Fervo EnergycoreD&M issued the first-ever reserves report on Enhanced Geothermal Systems for Fervo Energy's Cape Station project. This comprehensive technical and economic evaluation provides external verification of Fervo's ability to deliver contracted clean energy volumes to customers including Shell Energy and Southern California Edison. D&M's independent estimates of heat-in-place and reserves involved comprehensive review of Fervo's drilling data, geologic models, and production test results.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
DeGolyer and MacNaughton competitors and assessment
Company assessmentDirect peers
- Sproule (now part of ERCE): Sproule, now part of ERCE, provides independent reserves and resource evaluations to oil & gas clients worldwide. It competes directly with D&M on Competent Person's Reports and reserves audits, particularly in Canada, Europe, and the Middle East.
- Ryder Scott Company: Ryder Scott is the closest direct peer to D&M, providing independent petroleum reserves audits and Competent Person's Reports to operators and financial institutions. The two firms are routinely engaged jointly (e.g., co-auditing Ecopetrol) and compete head-to-head for large reserves certifications globally.
- Netherland, Sewell & Associates: Netherland Sewell is a Dallas-based independent reserves evaluation firm with a comparable client base among international E&P companies and financial institutions. It directly competes with D&M on reserves audits, reservoir studies, and SEC/SPE-PRMS reporting mandates.
Broad incumbents
- Wood Mackenzie: Wood Mackenzie provides commercial energy research, asset valuation, and subsurface advisory to oil & gas and energy transition clients. While more commercially and financially focused, it competes with D&M on transaction-related reserves valuation and corporate advisory mandates.
- SGS: SGS provides testing, inspection, and certification services to the energy sector, including reserves-related verification and energy advisory work. It is a broader incumbent whose energy practice partially overlaps with D&M's independent certification engagements.
- Halliburton Landmark: Halliburton's Landmark division provides reservoir engineering software and consulting services to oil & gas operators. It overlaps with D&M's reservoir simulation and modeling practices, particularly where operators prefer integrated technology-plus-services offerings.
- Bureau Veritas: Bureau Veritas offers testing, inspection, and certification services across multiple industries including oil & gas. It competes with D&M primarily on the certification and independent verification elements of reserves and energy asset assessments.
- RPS Group (Tetra Tech): RPS, now part of Tetra Tech, provides subsurface, reserves, and energy advisory services to oil & gas clients. It overlaps with D&M on Competent Person's Reports and reserves evaluations while also offering broader environmental and infrastructure consulting.
- Gaffney, Cline & Associates: Gaffney Cline, now a Baker Hughes subsidiary, offers independent reserves advisory and reservoir consulting with global reach. It competes with D&M on reserves audits while benefiting from integration with SLB/Baker Hughes' broader upstream technology and services portfolio.
- Schlumberger (SLB) Reservoir Performance: SLB provides reservoir consulting, simulation, and characterization services as part of its broader upstream technology portfolio. While not a pure reserves auditor, SLB competes with D&M on subsurface evaluation, reservoir modeling, and integrated field development planning.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
DeGolyer and MacNaughton social profiles
Digital presenceDeGolyer and MacNaughton financial estimates
Financial estimateRevenue estimate
Valuation estimate
DeGolyer and MacNaughton leadership team
Management profileNumber of profiles
Profiles3 records
DeGolyer and MacNaughton funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DeGolyer and MacNaughton M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DeGolyer and MacNaughton
What does DeGolyer and MacNaughton do?
DeGolyer and MacNaughton is an independent international petroleum consulting firm providing unbiased technical assessments including reserves evaluations, reservoir simulation, unconventional resources consulting, competent person's reports, geologic and petrophysical analyses, development planning, and production enhancement consulting to oil and gas companies, governments, and financial institutions in more than 100 countries. The firm blends energy economics, engineering, and earth sciences to support exploration, recovery, and management decisions for petroleum resources, including extended capabilities in ESG, carbon sequestration, geothermal resources, critical minerals, and LNG advisory.
Is DeGolyer and MacNaughton a public or private company?
DeGolyer and MacNaughton is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was DeGolyer and MacNaughton founded?
DeGolyer and MacNaughton was founded in 1920. It employs 101 to 250 people.
Where is DeGolyer and MacNaughton based?
DeGolyer and MacNaughton is headquartered in Dallas, United States, in the North America region.
How does DeGolyer and MacNaughton make money?
One revenue line is on record: petroleum Consulting Services.
Who are DeGolyer and MacNaughton's main competitors?
Direct peers on record are Sproule (now part of ERCE), Ryder Scott Company and Netherland, Sewell & Associates. Broad incumbents are Wood Mackenzie, SGS, Halliburton Landmark, Bureau Veritas, RPS Group (Tetra Tech), Gaffney, Cline & Associates and Schlumberger (SLB) Reservoir Performance.
Does DeGolyer and MacNaughton have an API?
No public API is recorded for DeGolyer and MacNaughton.
What industry is DeGolyer and MacNaughton in?
DeGolyer and MacNaughton's product category is Petroleum Consulting Services. Its primary akta.pro industry code is EUALAAAC, Field Development Planning & Subsurface Reservoir Engineering, with a secondary code of EUALAAAH, Unconventional Resources Development (Shale/Tight, CBM). Its NAICS code is 2131 and its SIC code is 1382.