Blue Star Gas Corp
How we got $134.1M
Based on its 24 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Some signs of a sale
- In business 35 years (since 1991)
- No family successor named on its website
From public records and the company's website, not a statement that it's for sale.
What they do
Blue Star Land Services is an Oklahoma City-based land brokerage providing title, acquisition, regulatory, and project support services for oil and gas, renewable energy, pipeline, water and infrastructure development projects across major U.S. producing basins.
From the company's website. Industry: Crude Petroleum Extraction.
Estimated value over time
▲ 29% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| BLUE STAR GAS CORP this business | $105.4M | — |
| ROX EXPLORATION, INC. Norman · 5 employees | $21.0M | 0.2 mi |
| KMV LAND, LLC Norman · 1 employees | $4.1M | 0.8 mi |
| ARROW OIL AND GAS LLC Norman · 13 employees | $37.7M | 1.5 mi |
| WEGO PERFORATORS INC Norman · 3 employees | $11.9M | 1.5 mi |
| GLA, INC. Norman · 4 employees | $18.5M | 1.5 mi |
| ENERGETIC SYSTEMS, INC. LLC Norman | $72.9M | 1.7 mi |
The full calculation
| Employees reported to the SBA | 24 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $94.0M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $90.9M |
| Estimate: the two combined (geometric mean) | $105.4M |
| EBITDA margin (industry, adjusted for size) | 20% |
| EBITDA = revenue × margin | $21.0M |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $134.1M |
| Multiple for this size and industry | 6.4× |
| Value range | $70.6M – $183.5M |
| Revenue range | $69.3M – $120.2M |
| EBITDA range | $13.8M – $23.9M |
| Industry (NAICS) | Crude Petroleum Extraction (211120) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
“Since 1991, Blue Star has assisted operators, developers, attorneys, investors and project teams with ownership analysis, title research, leasing, due diligence, regulatory compliance, title curative and surface acquisition.”
Leadership
- TTTaylor Tinsley JonesOwner / Manager · Company website · source
- APAnn Pepper NoonSenior Landman · Company website · source
- RBRyan BassSenior Landman · Company website · source
Advisors
- BankingLiberty National BankPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| Liberty National Bank PPP 2020, PPP 2021 | All 430 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/7/2020 | first | $478K | 24 |
| 1/27/2021 | second | $478K | 24 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Blue Star Gas Corp
Blue Star Gas Corp is a crude petroleum extraction company in Norman, Oklahoma, in business since 1991. It is owned by Matthew H. Barry (Owner / Manager). Its estimated annual revenue is about $105.4M, with roughly $21.0M of EBITDA. It has about 24 employees. Its estimated business value is $134.1M (likely range $70.6M–$183.5M).
Common questions
- Who owns Blue Star Gas Corp?
- Blue Star Gas Corp is owned by Matthew H. Barry (Owner / Manager), according to public sources such as the company's website or filings.
- How much revenue does Blue Star Gas Corp make?
- SeeBITDA estimates Blue Star Gas Corp's annual revenue at about $105.4M (likely between $69.3M and $120.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Blue Star Gas Corp worth?
- About $134.1M, roughly 6.4× its estimated EBITDA of $21.0M, typical for a crude petroleum extraction company its size. Likely range: $70.6M–$183.5M.
- How many employees does Blue Star Gas Corp have?
- About 24, as reported on its PPP loan.
- When was Blue Star Gas Corp founded?
- Blue Star Gas Corp has been in business since 1991.