Duncan Oil Properties, Inc. is a privately-held E&P company established in Oklahoma City by J. Walter Duncan, Jr. in 1981, and holds assets in 26 states and Canada. The company has been managed since 1993 by J. Walter Duncan IV, who graduated with honors from the University of Texas with a Masters of Business Administration degree. Our powerful management team has over 150 years of combined experience.
Our team works together to develop comprehensive geological understanding with cutting edge completion technologies and proven production expertise to maximize asset value. By integrating deep subsurface knowledge with innovative engineering and disciplined execution, we optimize well performance, enhance recovery, and deliver reliable, long term results for our partners. We believe developing honest alignment with our stakeholders. We strive to remain opportunity focused through the full cycles in the exploration and production business.
President
James Walter Duncan IV (Walt) is president of Duncan Oil Properties Inc., an independent oil and gas exploration and production company located in Oklahoma City, Oklahoma. He was previously employed by the company as a landman from 1989-1991 and has been the acting chief executive officer since 1995.
Mr. Duncan is currently a board member of the Oklahoma Medical Research Foundation, where he has chaired the Technology Transfer Committee and the Audit and Finance Committee. He also is a member of the board and executive committee of the Oklahoma Petroleum Alliance.
From 2019 to 2024, Mr. Duncan served on the Board of Directors of the Federal Reserve Bank of Kansas City’s Oklahoma City Branch. Additionally, he has held board positions with Allied Arts, the YMCA of Greater Oklahoma City, Petroleum Club, Calm Waters, and the Citizens League of Central Oklahoma. He was the former chair of the Oklahoma City Chapter of the Young Presidents Organization and served as the Energy Division chair for the United Way Capital Campaign.
Mr. Duncan obtained a Bachelor of Science degree in philosophy from DePauw University and a Master of Business Administration from the University of Texas at Austin.
General Counsel
Jason Blose serves as General Counsel and Corporate Secretary, where he provides legal and strategic guidance across a broad range of operational areas. Jason brings a practical, business-oriented approach shaped by extensive experience both in-house and in private practice.
Prior to joining Duncan, he held multiple leadership roles at Chesapeake Energy and later led the business, real estate, and oil and gas practice at an Oklahoma law firm. Jason graduated summa cum laude from Lafayette College and earned his J.D. from Penn State Dickinson School of Law.
Land Manager
Joe Ferguson serves as Land Manager for Duncan Oil Properties, Inc., where he leads the company’s land department and its acquisition and development efforts.
With nearly two decades of experience in the oil and gas industry, primarily focused in the Anadarko Basin, Joe has extensive experience in strategic lease acquisition and is well versed in Oklahoma Corporation Commission and Texas Railroad Commission regulatory matters.
Prior to joining Duncan Oil Properties, Inc., Joe gained broad industry experience through a range of land roles with Chesapeake Energy, Roan Resources, and O’Neal Oil and Gas.
Joe earned a Bachelor of Business Administration in Finance from the University of Central Oklahoma and is a Certified Professional Landman (CPL) through the American Association of Professional Landmen.
He is also a member of the Oklahoma City Association of Professional Landmen.
Operations Engineering Manager
Ernie Gonzalez is an Operations Engineering Manager with 25 years of oil and gas experience in drilling, completions, and production operations.
He held engineering and leadership roles with Halliburton Energy Services, Diamondback Energy Services, and Ely and Associates before joining Duncan Oil Properties, Inc. in 2011.
Ernie is known for his hands-on leadership and operational expertise. He graduated from the University of Texas at San Antonio with a degree in Mechanical Engineering.
Exploration Manager
Tiffany M. Stephens serves as the Exploration Manager for Duncan Oil Properties, Inc., leveraging over 20 years of integrated geological and legal expertise in the oil and gas industry.
She specializes in subsurface exploration and asset development, with a primary geographic focus on the Anadarko Basin and Shelf, where she has extensively evaluated key formations including the Cana Woodford, STACK, Cleveland, Marmaton, Red Fork, Granite Wash, and Hunton, as well as emerging plays such as the “Cherokee” shale.
Her diverse corporate background includes roles at Pioneer Natural Resources, Chaparral Energy, Arnold Oil Properties, Black Crown Energy, and Vernon L. Smith and Associates, managing both exploration geology and complex Oklahoma title and lease processes. Tiffany holds a J.D., an M.S. in Geology, and a B.S. in Geology from the University of Oklahoma and is a published researcher in paleontology.
Controller
Rikki Schoonover serves as Controller and has extensive experience in the oil and gas industry dating back to 2012. She holds a Bachelor of Science in Accounting from the University of Central Oklahoma and a Master of Science in Energy Management from Oklahoma City University, combining strong technical expertise with a practical understanding of the energy sector.
Rikki is recognized for her collaborative approach and dedication to building strong, supportive teams. She values accuracy, transparency, and continuous improvement, and she actively partners across departments to promote efficient and responsible operations. She is actively involved in the industry, including serving on the board of COPAS OKC from 2022 to 2026 and participating in the Women’s Energy Network, where she supports professional development and leadership growth.
Our company is interested in establishing relationships with qualified investors and partnering with like-minded energy companies for the purposes of exploring for and developing oil and gas reserves in the Anadarko and Permian Basins.
