Cirrus Production Company
How we got $39.8M
Based on its 7 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 39 years (since 1987)
- 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
Cirrus Production Company, formed in 1987, is an independent oil and gas producer based in Enid, Oklahoma, primarily engaged in oil and gas production in the Mid Continent area.
From the company's website. Industry: Natural Gas Extraction.
Estimated value over time
▲ 31% 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 |
|---|---|---|
| CIRRUS PRODUCTION COMPANY this business | $31.8M | — |
| RESOURCES OPERATING CO., INC. Enid · 2 employees | $8.3M | 2.0 mi |
| HENRY GUNGOLL OPERATING INC Enid · 5 employees | $24.9M | 2.2 mi |
| SHELLBARK VENTURES LLC Enid · 1 employees | $4.5M | 2.3 mi |
| D & J OIL COMPANY, INC. Enid · 10 employees | $35.5M | 3.3 mi |
| ON POINT RESOURCES, LLC Enid · 1 employees | $4.6M | 4.7 mi |
| HIGH PLAINS OPERATING, INC. Waukomis · 2 employees | $9.3M | 8.2 mi |
The full calculation
| Employees reported to the SBA | 7 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $34.1M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $22.9M |
| Estimate: the two combined (geometric mean) | $31.8M |
| EBITDA margin (industry, adjusted for size) | 23% |
| EBITDA = revenue × margin | $7.2M |
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 | $39.8M |
| Multiple for this size and industry | 5.5× |
| Value range | $20.9M – $54.4M |
| Revenue range | $20.9M – $36.3M |
| EBITDA range | $4.8M – $8.2M |
| Industry (NAICS) | Natural Gas Extraction (211130) |
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
“Cirrus Production Company, formed in 1987, is primarly engaged in oil and gas production in the Mid Continent area.”
Leadership
- MJMichael JohnsonOwner, CFO · Company website · source
Advisors
- BankingBancFirstPPP / 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
| BancFirst PPP 2020 | All 7,048 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/10/2020 | first | $99K | 7 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Cirrus Production Company
Cirrus Production Company is a natural gas extraction company in Enid, Oklahoma, in business since 1987. It is owned by Ray Gill. Its estimated annual revenue is about $31.8M, with roughly $7.2M of EBITDA. It has about 7 employees. Its estimated business value is $39.8M (likely range $20.9M–$54.4M).
Common questions
- Who owns Cirrus Production Company?
- Cirrus Production Company is owned by Ray Gill, according to public sources such as the company's website or filings.
- How much revenue does Cirrus Production Company make?
- SeeBITDA estimates Cirrus Production Company's annual revenue at about $31.8M (likely between $20.9M and $36.3M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Cirrus Production Company worth?
- About $39.8M, roughly 5.5× its estimated EBITDA of $7.2M, typical for a natural gas extraction company its size. Likely range: $20.9M–$54.4M.
- How many employees does Cirrus Production Company have?
- About 7, as reported on its PPP loan.
- When was Cirrus Production Company founded?
- Cirrus Production Company has been in business since 1987.