Citation Oil & Gas Corp
- Chris PhelpsExecutive · Company website
- Kent HunterSouthern Oklahoma Region · Company website
- Connie NguyenAccounting · Company website
- Terry DavisAccounting · Company website
- Rachel WoodReservoir · Company website
How we got $1.2M
Based on typical figures for its industry (2022 Economic Census), not its own records.
What we know
Signs of a sale High sell likelihood
- In business 45 years (since 1981)
- Founder still runs it after 45 years
- 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
Citation Oil & Gas Corp. describes itself as one of the largest privately-held independent oil and gas acquisition, development and production companies in the United States.
From the company's website. Industry: Oil & gas.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| Citation Oil & Gas Corp this business | $1.5M | — |
| Mack Energy Co. Ratliff City | $1.5M | 0.6 mi |
| AMERICAN PETROLEUM CORP Ratliff City · 6 employees | $3.0M | 1.4 mi |
| O-K PUMP Ratliff City · 2 employees | $931K | 1.4 mi |
| EDDIE JOHNSON'S WELDING AND MACHINE CO Ratliff City · 3 employees | $1.3M | 1.5 mi |
| FLECTCHER OIL LLC Ratliff City · 1 employees | $368K | 1.5 mi |
| NELSON DIRECTIONAL BORING LLC Ratliff City · 16 employees | $7.7M | 1.7 mi |
The full calculation
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 | $1.2M |
| Multiple for this size and industry | 2.4× |
| Value range | $309K – $2.5M |
This business has no PPP loan on record, so there is no business-specific data. The figures are the typical estimated revenue of Support Activities for Oil and Gas Operations businesses in our Oklahoma data: the middle value, with the range covering the middle half of those businesses. EBITDA applies the industry margin (34%). Treat these as a rough guide.
| Revenue range | $479K – $2.6M |
| EBITDA range | $161K – $857K |
| Industry (NAICS) | Support Activities for Oil and Gas Operations (213112) |
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. Listing details come from Overture Maps open data. Full methodology
History & advisors
“Founded in 1981 by Forrest E. Harrell, Sr., Citation has built a significant portfolio of mature, long-life producing properties through a combination of disciplined acquisitions, focused operations and subsequent development.”
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.
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Citation Oil & Gas Corp
Citation Oil & Gas Corp is an oil & gas company in Ratliff City, Oklahoma, in business since 1981. It is owned by Forrest E. Harrell, Sr. (Founder). Its estimated annual revenue is about $1.5M, with roughly $490K of EBITDA. Its estimated business value is $1.2M (likely range $309K–$2.5M).
Common questions
- Who owns Citation Oil & Gas Corp?
- Citation Oil & Gas Corp is owned by Forrest E. Harrell, Sr. (Founder), according to public sources such as the company's website or filings.
- How much revenue does Citation Oil & Gas Corp make?
- SeeBITDA estimates Citation Oil & Gas Corp's annual revenue at about $1.5M (likely between $479K and $2.6M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Citation Oil & Gas Corp worth?
- About $1.2M, roughly 2.4× its estimated EBITDA of $490K, typical for a oil & gas company its size. Likely range: $309K–$2.5M.
- When was Citation Oil & Gas Corp founded?
- Citation Oil & Gas Corp has been in business since 1981.
- Is Citation Oil & Gas Corp 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; no family successor named on its website.