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 Likely to sell
- In business 32 years (since 1994)
- Founder still runs it after 32 years
From public records and the company's website, not a statement that it's for sale.
What they do
Welltec optimizes energy and productivity for the energy industry by maximizing reservoir contact, optimizing recovery and reducing production costs with a minimized environmental footprint. It offers completion, intervention, downhole isolation and new energy solutions.
From the company's website. Industry: Oil & gas.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| Welltec this business | $1.5M | — |
| Peak Completion Technology Tulsa | $1.5M | 0.0 mi |
| Blue Mountain Midstream Tulsa | $1.5M | 0.0 mi |
| THE H AND S DRILLING COMPANY Tulsa · 3 employees | $1.8M | 0.0 mi |
| Citizen Energy Tulsa | $1.5M | 0.0 mi |
| Silverado Oil & Gas Tulsa | $1.5M | 0.0 mi |
| EAGLE ROAD OIL LLC Tulsa · 15 employees | $8.6M | 0.0 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
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 Roles are as stated there and may be out of date.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 Welltec
Welltec is an oil & gas company in Tulsa, Oklahoma, in business since 1994. It is owned by Jørgen Hallundbæk (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 Welltec?
- Welltec is owned by Jørgen Hallundbæk (Founder), according to public sources such as the company's website or filings.
- How much revenue does Welltec make?
- SeeBITDA estimates Welltec'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 Welltec 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 Welltec founded?
- Welltec has been in business since 1994.
- Is Welltec for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 32 years (since 1994); founder still runs it after 32 years.