Mid-Con Energy Operating, LLC
How we got $476.9M
Based on its 101 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Unlikely to sell soon
- Headcount down 98% since 2020 (retirement plan filings)
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.
Employees over time
▼ 99% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 101 | $334.9M |
| 2020 | Form 5500 | 66 | $218.9M |
| 2021 | Form 5500 | 13 | $43.1M |
| 2022 | Form 5500 | 12 | $39.8M |
| 2023 | Form 5500 | 1 | $3.3M |
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 |
|---|---|---|
| MID-CON ENERGY OPERATING, LLC this business | $324.7M | — |
| CANYON CREEK ENERGY OPERATING, LLC Tulsa · 13 employees | $26.9M | 0.1 mi |
| GOODROCK NATURAL RESOURCES LLC Tulsa · 6 employees | $15.0M | 0.7 mi |
| SROY FAMILY LLP Tulsa · 1 employees | $3.1M | 1.1 mi |
| AMERICAN OILFIELD BEARING LLC Tulsa · 5 employees | $15.5M | 1.1 mi |
| PARSAGE OIL COMPANY LLC Tulsa · 4 employees | $10.2M | 1.1 mi |
| G.R.B. RESOURCES, INC. Tulsa · 3 employees | $6.3M | 1.1 mi |
The full calculation
| Employees reported to the SBA | 101 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $345.9M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $304.8M |
| Estimate: the two combined (geometric mean) | $324.7M |
| EBITDA margin (industry, adjusted for size) | 20% |
| EBITDA = revenue × margin | $66.2M |
Brought up to date: prices are 10% higher than in the benchmark's year and Oklahoma employment in this industry has grown 4% since 2020, both included above.
| Estimated value = EBITDA × typical sale multiple | $476.9M |
| Multiple for this size and industry | 7.2× |
| Value range | $286.1M – $743.9M |
| Revenue range | $243.5M – $422.1M |
| EBITDA range | $49.7M – $86.1M |
| 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
People & advisors
Advisors
- AccountingGrant ThorntonAudits its 401(k) plan (2022 filing)
- 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 |
|---|---|---|---|
| 4/7/2020 | first | $2.0M | 101 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Mid-Con Energy Operating, LLC
Mid-Con Energy Operating, LLC is a crude petroleum extraction company in Tulsa, Oklahoma, in business since 2022. Its estimated annual revenue is about $324.7M, with roughly $66.2M of EBITDA. It has about 1 employees. Its estimated business value is $476.9M (likely range $286.1M–$743.9M).
Common questions
- Who owns Mid-Con Energy Operating, LLC?
- The owner of Mid-Con Energy Operating, LLC 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 Mid-Con Energy Operating, LLC make?
- SeeBITDA estimates Mid-Con Energy Operating, LLC's annual revenue at about $324.7M (likely between $243.5M and $422.1M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Mid-Con Energy Operating, LLC worth?
- About $476.9M, roughly 7.2× its estimated EBITDA of $66.2M, typical for a crude petroleum extraction company its size. Likely range: $286.1M–$743.9M.
- How many employees does Mid-Con Energy Operating, LLC have?
- About 1, from its 2023 retirement-plan filing.
- When was Mid-Con Energy Operating, LLC founded?
- Mid-Con Energy Operating, LLC has been in business since 2022.