Clearwater Enterprises, L.L.C.
How we got $39.5M
Based on 30 employees on its 2025 401(k) filing.
What we know
Signs of a sale Unlikely to sell soon
- In business 21 years (since 2005)
- Acquired by Clearwater Enterprises (2023)
From public records and the company's website, not a statement that it's for sale.
What they do
Clearwater Enterprises provides natural gas services, including producer services, energy retail services, and risk management and wholesale trading, to natural gas producers, consumers and investors. It says it serves customers across North America.
From the company's website. Industry: Natural Gas Distribution.
Ownership & transactions
- Acquired by Clearwater Enterprises · Nov 2023Oklahoma Energy Source, LLC was sold to Clearwater Enterprises, according to its company history page.Source
Estimated value over time
▲ 70% 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.
Employees over time
▲ 36% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 22 | $28.8M |
| 2020 | Form 5500 | 21 | $27.4M |
| 2021 | Form 5500 | 22 | $28.8M |
| 2022 | Form 5500 | 26 | $34.0M |
| 2023 | Form 5500 | 26 | $34.0M |
| 2024 | Form 5500 | 24 | $31.4M |
| 2025 | Form 5500 | 30 | $39.2M |
Participants are employees in the company's retirement plan at year end, from its Form 5500 filing with the Department of Labor. They usually run a little under total headcount (part-timers and new hires may not be eligible). Revenue and EBITDA apply this industry's revenue per employee and margin to each year's count.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| CLEARWATER ENTERPRISES, L.L.C. this business | $71.0M | — |
| FLYWHEEL ENERGY MANAGEMENT, LLC Oklahoma | $731.0M | 4.0 mi |
| SPARTAN ENERGY SERVICES, LLC Oklahoma City | $16.9M | 4.6 mi |
| WARD PETROLEUM CORPORATION Oklahoma City · 18 employees | $12.4M | 6.3 mi |
| CROSSBOW PRODUCTION COMPANY, L.L.C. Edmond | $4.3M | 6.6 mi |
| UNITED PETROLEUM TRANSPORTS, INC. Oklahoma City · 417 employees | $695.6M | 7.9 mi |
| JAK DISTRIBUTION LLC Noble · 3 employees | $3.4M | 28.3 mi |
The full calculation
Brought up to date: prices are 10% higher than in the benchmark's year, both included above.
| Estimated value = EBITDA × typical sale multiple | $39.5M |
| Multiple for this size and industry | 6.5× |
| Value range | $25.3M – $71.1M |
| Employees in its retirement plan (2025 Form 5500) | 30 |
| Industry revenue per employee | $1.3M |
| Revenue = employees × revenue per employee | $71.0M |
| EBITDA margin (industry, adjusted for size) | 9% |
| EBITDA = revenue × margin | $6.1M |
| For comparison: employees reported for PPP (2020) | 22 |
Uses the newest headcount we have: participants in the company's retirement plan from its Form 5500 filing with the Department of Labor. Plans can leave out part-timers and new hires, so the range leans higher than the estimate.
| Revenue range | $56.8M – $106.4M |
| EBITDA range | $4.9M – $9.1M |
| Industry (NAICS) | Natural Gas Distribution (221210) |
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. These are statistical estimates, not reported financials. Full methodology
People & advisors
Advisors
- BankingInternational Bank of CommercePPP / 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
| International Bank of Commerce PPP 2020, PPP 2021 | All 442 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/4/2020 | first | $383K | 20 |
| 1/20/2021 | second | $487K | 22 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Clearwater Enterprises, L.L.C.
Clearwater Enterprises, L.L.C. is a natural gas distribution company in Oklahoma City, Oklahoma, in business since 2005. Its estimated annual revenue is about $71.0M, with roughly $6.1M of EBITDA. It has about 30 employees. Its estimated business value is $39.5M (likely range $25.3M–$71.1M).
Common questions
- Who owns Clearwater Enterprises, L.L.C.?
- The owner of Clearwater Enterprises, L.L.C. 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 Clearwater Enterprises, L.L.C. make?
- SeeBITDA estimates Clearwater Enterprises, L.L.C.'s annual revenue at about $71.0M (likely between $56.8M and $106.4M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Clearwater Enterprises, L.L.C. worth?
- About $39.5M, roughly 6.5× its estimated EBITDA of $6.1M, typical for a natural gas distribution company its size. Likely range: $25.3M–$71.1M.
- How many employees does Clearwater Enterprises, L.L.C. have?
- About 30, from its 2025 retirement-plan filing.
- When was Clearwater Enterprises, L.L.C. founded?
- Clearwater Enterprises, L.L.C. has been in business since 2005.