SeeBITDAOklahoma

Ascent Resources

Natural Gas Extraction
Company websiteascentresources.comLinkedIn pageCompany profile and employees
Estimated valueLow confidence
$1.3M
$335Klikely range$2.7M
About 2.6× its yearly profit, typical for a company this size in its industry.
Revenue
$1.5M
a year
Profit (EBITDA)
$490K
34% of revenue
Employees
—
not reported
Leadership
John Raymond
Founder · source
Unlikely to sell soon
  • Brooks Shughart
    Chief Executive Officer and President · Company website
  • Marianella Foschi
    Executive Vice President – Chief Financial Officer · Company website
  • Keith Yankowsky
    Executive Vice President – Chief Operating Officer · Company website
  • Dana Bryant
    Senior Vice President - Midstream & Marketing · Company website
  • Serena Buck
    Senior Vice President – Land · Company website
Has a management team. Someone besides the owner runs part of the business, which buyers pay more for.

How we got $1.3M

Based on typical figures for its industry (2022 Economic Census), not its own records.

A typical natural gas extraction business in Oklahoma$1.5M
Revenue$1.5M
× 34% profit margin$490K
× 2.6 sale multiple = value$1.3M

· Own this business? Correct these figures

Employees over time

▲ 10% since 2020
0250500202020212022202320242025392433
401(k) / retirement-plan participants
Show as table
YearSourceEmployeesEst. revenueEst. EBITDA
2020Form 5500392$1.89B$634.6M
2021Form 5500388$1.87B$628.1M
2022Form 5500419$2.02B$678.3M
2023Form 5500438$2.11B$709.0M
2024Form 5500427$2.06B$691.2M
2025Form 5500433$2.09B$700.9M

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

No PPP loan
401(k) filing, 2025
No reported financials
Company website
Owner named

Signs of a sale Unlikely to sell soon

  • In business 15 years (since 2011)

From public records and the company's website, not a statement that it's for sale.

What they do

Ascent Resources is one of the largest privately held exploration and production companies in the United States, described as the largest natural gas producer in Ohio. It is backed by financial partners EMG and First Reserve for its Appalachian operations.

Products & services
Exploration and production
Markets served
Energy
Service area
OhioAppalachian

From the company's website. Industry: Natural Gas Extraction.

Compared with similar businesses nearby

BusinessEst. revenueEst. profitDistance
Ascent Resources
this business
$1.5M$490K—
CASTLEROCK RESOURCES, INC.
Oklahoma City · 4 employees
$16.7M$3.8M0.3 mi
BAYS EXPLORATION, INC.
Oklahoma City · 17 employees
$69.8M$15.8M0.6 mi
TO PRODUCTION LLC
Oklahoma City · 2 employees
$6.7M$1.8M0.7 mi
RYAN LOCKE ENTERPRISES, INC
Oklahoma City · 1 employees
$4.1M$1.1M0.7 mi
TIPTOP ENERGY PRODUCTION US, LLC
Oklahoma City
$22.0M$5.0M1.0 mi
HINKLE OIL AND GAS, INC.
Oklahoma City · 7 employees
$33.0M$7.5M1.1 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$1.3M
Multiple for this size and industry2.6×
Value range$335K – $2.7M

This business has no PPP loan on record, so there is no business-specific data. The figures are the typical estimated revenue of Natural Gas Extraction 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)Natural Gas Extraction (211130)

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

Advisors

  • AccountingBaker Tilly Us, LLPAudits its 401(k) plan (2025 filing)

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

LinkedIn company page
Size as the company lists it
Employees—

Matched to this business by name and address from public government data; a match can occasionally be wrong.

About Ascent Resources

Ascent Resources is a natural gas extraction company in Oklahoma City, Oklahoma, in business since 2011. It is owned by John Raymond (Founder). Its estimated annual revenue is about $1.5M, with roughly $490K of EBITDA. It has about 433 employees. Its estimated business value is $1.3M (likely range $335K–$2.7M).

Common questions

Who owns Ascent Resources?
Ascent Resources is owned by John Raymond (Founder), according to public sources such as the company's website or filings.
How much revenue does Ascent Resources make?
SeeBITDA estimates Ascent Resources'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 Ascent Resources worth?
About $1.3M, roughly 2.6× its estimated EBITDA of $490K, typical for a natural gas extraction company its size. Likely range: $335K–$2.7M.
How many employees does Ascent Resources have?
About 433, from its 2025 retirement-plan filing.
When was Ascent Resources founded?
Ascent Resources has been in business since 2011.