Boone Operating, Inc.
How we got $19.8M
Based on 4 employees reported for PPP in 2020, grown at the industry's Oklahoma rate since.
What we know
Signs of a sale Some signs of a sale
- In business 28 years (since 1998)
From public records and the company's website, not a statement that it's for sale.
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 |
|---|---|---|
| BOONE OPERATING, INC. this business | $18.5M | — |
| ZEPHYR OPERATING CO LLC Oklahoma City · 3 employees | $10.5M | 0.3 mi |
| ZEPHYR SWD LLC Oklahoma City · 12 employees | $55.6M | 0.3 mi |
| HURRICAN RESOURCES COMPANY LLC Oklahoma City · 2 employees | $7.3M | 0.3 mi |
| JMA ENERGY COMPANY, LLC Oklahoma City · 28 employees | $159.5M | 0.3 mi |
| SKYCAP ENERGY, LLC Oklahoma City · 4 employees | $18.0M | 0.3 mi |
| B.R. POLK, INC. Oklahoma City · 7 employees | $28.7M | 0.4 mi |
The full calculation
| Employees reported to the SBA | 4 |
| Industry revenue per employee | $3.3M |
| Revenue = employees × revenue per employee | $18.5M |
| EBITDA margin (industry, adjusted for size) | 23% |
| EBITDA = revenue × margin | $4.2M |
| Cross-check: revenue implied by PPP payroll | $4.6M |
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 | $19.8M |
| Multiple for this size and industry | 4.7× |
| Value range | $9.4M – $28.1M |
| Revenue range | $11.0M – $21.9M |
| EBITDA range | $2.5M – $5.0M |
| Industry (NAICS) | Crude Petroleum Extraction (211120) |
Low confidence: the employee-based and payroll-based estimates differ by more than 2×.
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
Advisors
- BankingRCB 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 Roles are as stated there and may be out of date.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
| RCB Bank PPP 2020, PPP 2021 | All 1,690 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/15/2020 | first | $24K | 4 |
| 2/11/2021 | second | $24K | 4 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Boone Operating, Inc.
Boone Operating, Inc. is a crude petroleum extraction company in Oklahoma City, Oklahoma, in business since 1998. Its estimated annual revenue is about $18.5M, with roughly $4.2M of EBITDA. It has about 4 employees. Its estimated business value is $19.8M (likely range $9.4M–$28.1M).
Common questions
- Who owns Boone Operating, Inc.?
- The owner of Boone Operating, Inc. isn't in public records we've found yet. If you own or run the business, you can add or correct its details on SeeBITDA.
- How much revenue does Boone Operating, Inc. make?
- SeeBITDA estimates Boone Operating, Inc.'s annual revenue at about $18.5M (likely between $11.0M and $21.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Boone Operating, Inc. worth?
- About $19.8M, roughly 4.7× its estimated EBITDA of $4.2M, typical for a crude petroleum extraction company its size. Likely range: $9.4M–$28.1M.
- How many employees does Boone Operating, Inc. have?
- About 4, as reported on its PPP loan.
- When was Boone Operating, Inc. founded?
- Boone Operating, Inc. has been in business since 1998.