Jolen Operating Company
How we got $29.7M
Based on its 6 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Likely to sell
- In business 45 years (since 1981)
- Founder still runs it after 45 years
From public records and the company's website, not a statement that it's for sale.
What they do
Jolen Operating Company manages mineral rights and oil and gas properties primarily in the mid-continent region. It is part of The Fleischaker Companies, which draws on more than 80 years in the oil and gas business.
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.
Employees over time
▲ 17% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 6 | $19.9M |
| 2020 | Form 5500 | 5 | $16.6M |
| 2021 | Form 5500 | 4 | $13.3M |
| 2022 | Form 5500 | 4 | $13.3M |
| 2023 | Form 5500 | 3 | $9.9M |
| 2024 | Form 5500 | 4 | $13.3M |
| 2025 | Form 5500 | 7 | $23.2M |
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 |
|---|---|---|
| JOLEN OPERATING COMPANY this business | $23.8M | — |
| TREK ENERGY LLC Oklahoma City · 1 employees | $4.5M | 0.0 mi |
| DERBY ENERGY, LLC Oklahoma City · 17 employees | $71.8M | 0.1 mi |
| GOSH EXPLORATION LP Oklahoma City · 4 employees | $22.1M | 0.1 mi |
| BINGER OPERATIONS LLC Oklahoma City · 11 employees | $40.0M | 0.1 mi |
| OGP ENERGY LTD PARTNERSHIP 1 Oklahoma City · 3 employees | $12.6M | 0.1 mi |
| SANDSTONE ENERGY ACQUISITIONS CORP Oklahoma City · 6 employees | $36.1M | 0.1 mi |
The full calculation
| Employees reported to the SBA | 6 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $23.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $18.5M |
| Estimate: the two combined (geometric mean) | $23.8M |
| EBITDA margin (industry, adjusted for size) | 23% |
| EBITDA = revenue × margin | $5.4M |
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 | $29.7M |
| Multiple for this size and industry | 5.5× |
| Value range | $15.6M – $40.6M |
| Revenue range | $15.6M – $27.1M |
| EBITDA range | $3.6M – $6.2M |
| 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
History & advisors
“Jolen Operating Company and The Fleischaker Companies were established by Richard Fleischaker and his son David in 1981.”
Advisors
- BankingJPMorgan Chase Bank, National AssociationPPP / 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
| JPMorgan Chase Bank, National Association PPP 2020, PPP 2021 | All 993 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 | $97K | 6 |
| 4/20/2021 | second | $100K | 6 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Jolen Operating Company
Jolen Operating Company is a crude petroleum extraction company in Oklahoma City, Oklahoma, in business since 1981. It is owned by Richard Fleischaker (Founder). Its estimated annual revenue is about $23.8M, with roughly $5.4M of EBITDA. It has about 7 employees. Its estimated business value is $29.7M (likely range $15.6M–$40.6M).
Common questions
- Who owns Jolen Operating Company?
- Jolen Operating Company is owned by Richard Fleischaker (Founder), according to public sources such as the company's website or filings.
- How much revenue does Jolen Operating Company make?
- SeeBITDA estimates Jolen Operating Company's annual revenue at about $23.8M (likely between $15.6M and $27.1M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Jolen Operating Company worth?
- About $29.7M, roughly 5.5× its estimated EBITDA of $5.4M, typical for a crude petroleum extraction company its size. Likely range: $15.6M–$40.6M.
- How many employees does Jolen Operating Company have?
- About 7, from its 2025 retirement-plan filing.
- When was Jolen Operating Company founded?
- Jolen Operating Company has been in business since 1981.
- Is Jolen Operating Company for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 45 years (since 1981); founder still runs it after 45 years.