Lee Keeling And Associates, Inc.

What Lee Keeling And Associates, Inc. does

Lee Keeling and Associates, Inc. (LKA) is a privately held, Tulsa, Oklahoma-based petroleum consulting firm founded in 1957 by Lee A. Keeling, providing geological, engineering, and economic evaluation services to the global oil and gas industry. The firm operates as a single unified professional services practice delivered by a small core team of senior petroleum geologists, reservoir engineers, a geophysics associate, and an engineering and geology technician, supplemented by an on-call network of independent consultants. Its core offerings fall into three interconnected service lines: (1) petroleum engineering services including reserve estimates, appraisals, CO2 sequestration feasibility studies, gas storage and water flood studies, expert witness testimony, pipeline feasibility assessments, formation and reservoir analysis, unitization, enhanced recovery, and horizontal drilling studies; (2) oil and gas appraisals for acquisitions, divestitures, bankruptcies, estates, royalty and mineral valuations; and (3) geology and geophysical services including drilling prospect evaluation, regional geological surveys, log analysis, reservoir volumetrics, and seismic interpretation. The firm states that it uses a wide range of professionally accepted evaluation software and engineering practices to produce specialized reports tailored to client needs.

LKA's business model is professional services on a custom, per-project basis with multi-year contract relationships, targeting a horizontal segmentation of the petroleum value chain: integrated oil companies, independent operators, pipelines and utilities, energy banks and financial groups, legal and accounting firms, and federal, state, and tribal governmental agencies. Pricing is not publicly disclosed. Its go-to-market is relationship-driven and reputation-led, with limited marketing presence, relying on six decades of continuous operation, reports "recognized and respected by major financial institutions worldwide," and acceptance of its appraisals for registration with regulatory authorities globally. The firm has conducted work in over 30 countries and every major U.S. petroleum province, including the Permian, Eagle Ford, Haynesville, Marcellus, Bakken, Woodford, and Niobrara shale plays, and has worked on projects in Canada, Europe, the Middle East, Indonesia, and Latin America. Operations are now centralized in Tulsa after prior offices in Los Angeles and Houston were closed, and the company is currently led by President John R. Wheeler, who assumed the role in 2018 following the retirement of Gordon L. Romine.

Name

Lee Keeling And Associates, Inc.

Legal name

Lee Keeling and Associates, Inc.

Website

https://lkaengineers.com

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

1–10 employees

Short description

Lee Keeling and Associates is a Tulsa-based petroleum consulting firm founded in 1957, providing geological, engineering, and economic evaluations — including reserve estimates, appraisals, and feasibility studies — to oil and gas operators, financial institutions, legal firms, and government agencies worldwide.

Ownership category

akta.pro rank

Product category

Petroleum Engineering Consulting

NAICS

Geophysical Surveying and Mapping Services (54136), Geophysical Surveying and Mapping Services (541360), Other Scientific and Technical Consulting Services (54169)

SIC

Oil & Gas Field Exploration Services (1382), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Exploration & Prospecting (Geology, Geophysics, Seismic) (EUALAAAA)

akta.pro secondary industries

Seismic & Geoscience Services (Acquisition, Processing, Interpretation) (EUALABAK), Geotechnical & Subsurface Engineering Consulting (BPAHAIAB)

Keywords

• Petroleum consulting services
• Oil and gas appraisals
• Reserve evaluation services
• Petroleum engineering consulting
• Geological consulting services

Headquarters

HQ city

Tulsa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations

Revenue model

1. Petroleum Consulting Services: Professional consulting fees for petroleum geology and engineering evaluations, reserve estimates, appraisals, and specialized reports tailored to client requirements. Services include expert witness testimony, pipeline feasibility studies, and investment counseling.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Lee Keeling and Associates provides confidential consulting to the petroleum industry through professional petroleum engineers and geologists. Core offerings include comprehensive petroleum engineering services (oil and gas reserve estimates, appraisals, CO2 sequestration feasibility studies, expert witness testimony, drilling and development programs), oil and gas appraisals recognized by major financial institutions worldwide, and geological and geophysical services including drilling prospect evaluation, log analysis, reservoir volumetrics, and seismic analysis.

Product overview

Lee Keeling and Associates (LKA) is an international petroleum E&P consulting and reserve evaluation company founded in 1957. The company operates as a single unified consulting service providing specialized petroleum geology and engineering expertise. The core product portfolio consists of three interconnected service lines: Petroleum Engineering Services (covering reserve estimates, appraisals, feasibility studies, expert testimony, and technical consulting), Oil and Gas Appraisals (for acquisitions, divestitures, and financial/regulatory purposes), and Geology and Geophysical Services (including drilling prospect evaluation, seismic analysis, and reservoir volumetrics). These services are delivered through a dedicated staff of professional petroleum engineers and geologists who produce specialized reports tailored to client needs. The company serves the entire spectrum of the petroleum industry including investors, financial institutions, integrated oil companies, independent operators, attorneys, and governmental agencies.

Differentiator

Problem solved

Functional benefit

Products and services

• Petroleum Engineering Services Comprehensive petroleum engineering consulting including oil and gas reserve estimates, appraisals, CO2 sequestration feasibility studies, PHMSA audit preparation, gas storage studies, water flood studies, expert witness testimony, pipeline feasibility studies, drilling and development programs, formation evaluation, reservoir analysis, unitization studies, fluid injection programs, enhanced recovery studies, horizontal drilling studies, deliverability studies, subsurface fluid disposal, and investment and management counseling for petroleum industry clients.
• Oil and Gas Appraisals Extensive appraisal reports used for property acquisitions and divestitures, bankruptcies, estates and trusts, oil and gas companies, pipeline companies, foreign companies, investment opportunities, and royalty and mineral appraisals; recognized and accepted by major financial institutions worldwide.
• Geology and Geophysical Services Expert geological and geophysical consulting including evaluation of drilling prospects, regional geological surveys, log analysis, reservoir volumetrics, and geophysical analysis. Services include seismic data processing and integration with well logs, regional geology, and reservoir engineering data for exploration and development clients.

Quantifiable outcome

• Reports accepted by major financial institutions worldwide for petroleum company mergers, purchases, sales, and financing
• +1 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Experienced Independent Consultants NetworkminorImplementation/ SI/ Consulting PartnerLKA maintains associations with other experienced independent consultants with varying expertise not normally required in the firm's regular assignments. When required, the firm retains these experts to satisfy specific client requests.

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Sproule (an ERM company): Calgary-headquartered petroleum reserves and geoscience consulting firm (now part of ERM). Comparable to LKA in core reserves-evaluation and geoscience services, with strong North American unconventional reservoir expertise and global operator/bank clientele.
• Ryder Scott Company: Houston-based petroleum reserves-evaluation and consulting firm offering oil and gas reserve audits, appraisals, and geological studies. Directly comparable to LKA in service mix (reserves reports, geological/geophysical evaluation) and target buyer (financial institutions, operators, attorneys).
• TRACS International: International petroleum reserves auditor and consultancy providing independent evaluation, audit, and certification services to operators, governments, and financial institutions. Comparable to LKA in regulator-accepted reserve reporting and global project footprint.
• DeGolyer & MacNaughton: Dallas-based petroleum consulting firm founded in 1938, providing reserves evaluations, geological/geophysical studies, and reservoir engineering globally. Comparable to LKA as a long-tenured, internationally recognized appraisal firm whose reports are accepted by financial institutions and regulators worldwide.
• Netherland, Sewell & Associates, Inc. One of the largest and most recognized petroleum reserves-evaluation and geological consulting firms globally, headquartered in Dallas/Houston. Directly comparable to LKA in that both produce reserves reports accepted by financial institutions worldwide for M&A, financing, and SEC/SEC-equivalent registrations; LKA's own VP previously served as SVP there.
• LaRoche Petroleum Consultants: Dallas-based petroleum engineering consulting firm specializing in oil and gas reserve appraisals, property evaluations, and reservoir studies. Comparable to LKA in boutique scale, bank-accepted reports, and operator/client mix across the U.S.
• Miller and Lents, Ltd. Houston-based independent petroleum engineering firm providing oil and gas reserve evaluations, economic analyses, and reservoir engineering. Comparable to LKA as a long-established boutique offering bank- and SEC-accepted reserves reports.
• W.D. Von Gonten & Co. Houston-based petroleum engineering and geological consulting firm offering reserves determinations, reservoir characterization, and formation evaluation. Comparable to LKA in boutique consulting model with strong unconventional shale expertise.
• Haas Petroleum Engineering Services, Inc. Dallas-based petroleum engineering consultancy providing reserves audits, appraisals, and reservoir engineering. Comparable to LKA as a long-standing boutique firm producing bank-accepted reserves reports for operators, banks, and legal clients.
• Cawley, Gillespie & Associates, Inc. Texas-based petroleum engineering and geological consulting firm providing reserve evaluations, economic studies, and expert testimony. Comparable to LKA in reserves-and-geology service mix and Texas/Oklahoma operator client base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/lee-keeling-and-associates-inc.-international-petroleum-consultants-

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lee Keeling And Associates, Inc.