Elkhorn Energy, LLC
- Stephanie MerrimanSigns company filings · Form 5500 (2020)
How we got $7.6M
Based on 10 employees reported for PPP in 2020, grown 8% a year since.
Estimated value over time
▲ 103% 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
▲ 40% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 10 | $48.2M |
| 2020 | Form 5500 | 12 | $57.8M |
| 2021 | Form 5500 | 13 | $62.7M |
| 2022 | Form 5500 | 15 | $72.3M |
| 2023 | Form 5500 | 21 | $101.2M |
| 2024 | Form 5500 | 14 | $67.5M |
| 2025 | Form 5500 | 14 | $67.5M |
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.
What we know
Signs of a sale Unlikely to sell soon
- Headcount down 33% since 2023 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| ELKHORN ENERGY, LLC this business | $8.1M | — |
| Elkhorn Gas Processing Tulsa | $1.3M | 0.0 mi |
| MARSTAR HOLDINGS LLC Tulsa · 1 employees | $815K | 0.1 mi |
| MAKEFIELD OIL COMPANY Tulsa · 2 employees | $1.6M | 0.9 mi |
| WACHTMAN OIL, LLC Tulsa · 1 employees | $815K | 1.3 mi |
| TOKLAN OIL AND GAS CORPORATION Tulsa · 11 employees | $9.0M | 1.6 mi |
| PACE EXPLORATION LLC Tulsa · 1 employees | $815K | 1.6 mi |
Ranges & sources
| Revenue range | $6.1M – $10.6M |
| EBITDA range | $1.5M – $2.6M |
| Industry (NAICS) | Natural Gas Extraction (211130) |
| Value range | $4.5M – $11.8M |
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
History & advisors
Advisors
- BankingArvest 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 Roles are as stated there and may be out of date.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
| Arvest Bank PPP 2020, PPP 2021 | All 5,114 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 | $204K | 10 |
| 1/21/2021 | second | $221K | 10 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Elkhorn Energy, LLC
Elkhorn Energy, LLC is a natural gas extraction company in Tulsa, Oklahoma. It is owned by Tom Rinehart. Its estimated annual revenue is about $8.1M, with roughly $2.0M of EBITDA. It has about 14 employees. Its estimated business value is $7.6M (likely range $4.5M–$11.8M).
Common questions
- Who owns Elkhorn Energy, LLC?
- Elkhorn Energy, LLC is owned by Tom Rinehart, according to public sources such as the company's website or filings.
- How much revenue does Elkhorn Energy, LLC make?
- SeeBITDA estimates Elkhorn Energy, LLC's annual revenue at about $8.1M (likely between $6.1M and $10.6M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Elkhorn Energy, LLC worth?
- About $7.6M, roughly 3.8× its estimated EBITDA of $2.0M, typical for a natural gas extraction company its size. Likely range: $4.5M–$11.8M.
- How many employees does Elkhorn Energy, LLC have?
- About 14, from its 2025 retirement-plan filing.