DeGolyer and MacNaughton
| Company type | Private |
|---|---|
| Industry | Petroleum consulting |
| Predecessor | Amerada (partnership origin) |
| Founded | 1936 |
| Founder | Everette Lee DeGolyer, Lewis MacNaughton |
| Headquarters | Dallas , United States |
Area served | Worldwide (including Asia Pacific, Latin America, Central Europe, Asia, Europe, Africa, North America) |
Key people | John W. Wallace (Chairman and CEO), Charles F. Boyette (President) |
| Products | Petroleum consulting services including reserve appraisals, economic forecasting, geological and engineering studies, reservoir simulation, management consulting, ESG support |
| Website | www |
DeGolyer and MacNaughton is a petroleum consulting enterprise based in Dallas, Texas, with additional offices located in Houston, Buenos Aires, and Algiers.
Established in 1936 by Everette Lee DeGolyer and Lewis MacNaughton, the firm originated from their partnership at Amerada, where DeGolyer, serving as President, brought McNaughton on board in 1928.
Company founding and early years
During the 1930s, financial institutions increasingly demanded independent appraisals of oil reserves used as collateral for long-term financing to oil companies. This need generated a market for trustworthy and impartial reservoir evaluations. DeGolyer and MacNaughton was created to address this requirement.
On October 30, 1936, DeGolyer proposed forming a business partnership to McNaughton, offering a base salary with opportunities for advancement. McNaughton agreed on October 18, initiating what evolved into a premier geological consulting organization. By 1939, they had established a standardized approach to assessing oil properties—an important service given the potential conflicts of interest posed by company-employed geologists. The firm compiled comprehensive data on individual wells and properties, ultimately amassing millions of records.
DeGolyer’s contributions to petroleum exploration were commemorated in 1966 by the Society of Petroleum Engineers through the creation of the DeGolyer Distinguished Service Medal, honoring exceptional achievements within the industry.
In addition to reserve appraisals for financing purposes, the company undertook geological surveys, oilfield development analyses, and management evaluations. Within its first ten years, it completed more than one thousand projects for fourteen of the world’s top twenty oil corporations, numerous smaller entities, and leading natural gas companies. Its consulting services extended internationally to countries including Mexico, Peru, Uruguay, Brazil, Ecuador, Colombia, Venezuela, Trinidad, as well as conducting evaluations for the U.S. Government in Alaska and regions in the Middle East.
Divisions
The company emphasizes its broad expertise across major oil-producing areas worldwide through divisions covering:
- Asia Pacific/Latin America
- Central Europe/Asia
- Europe/Africa
- North America
- Reservoir Studies
Activities
DeGolyer and MacNaughton Corp. offers petroleum consulting services both domestically and abroad. These include reserve appraisals, economic forecasting, geological, geophysical, and petrophysical analyses; engineering studies; reservoir simulation; reserve estimation; and management consulting. Their service portfolio also encompasses Economic Analysis and Modeling; assessments of Prospective and Unconventional Resources; as well as Environmental, Social, and Corporate Governance (ESG) support—such as calculating Greenhouse Gas Emissions in accordance with ISO 14064 standards. The firm provides production optimization advice alongside financial reporting assistance and forecasting related to petroleum assets for clients within the energy sector and financial markets.
In 2004, the company expanded its presence into Canada by acquiring Outtrim Szabo Associates based in Calgary as a subsidiary.
Executives
- John W. Wallace, chairman and chief executive officer
- Charles F. Boyette, president