Petroleum Development Company
How we got $34.7M
Based on 6 employees reported for PPP in 2020, grown at the industry's Oklahoma rate since.
What we know
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
▼ 67% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 6 | $19.9M |
| 2020 | Form 5500 | 2 | $6.6M |
| 2021 | Form 5500 | 2 | $6.6M |
| 2022 | Form 5500 | 2 | $6.6M |
| 2023 | Form 5500 | 2 | $6.6M |
| 2024 | Form 5500 | 2 | $6.6M |
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 |
|---|---|---|
| PETROLEUM DEVELOPMENT COMPANY this business | $27.8M | — |
| CASILLAS PETROLEUM CORP. Tulsa · 35 employees | $152.3M | 0.0 mi |
| LAWSON PETROLEUM COMPANY Tulsa · 2 employees | $8.8M | 0.0 mi |
| GEMINI OIL COMPANY INC Tulsa · 5 employees | $16.1M | 0.0 mi |
| MARJO OPERATING MID-CONTINENT LLC Tulsa · 10 employees | $41.2M | 0.0 mi |
| ORCA RESOURCES, LLC Tulsa · 4 employees | $13.4M | 0.0 mi |
| SHANE SAUNDERS Tulsa · 1 employees | $4.6M | 0.0 mi |
The full calculation
| Employees reported to the SBA | 6 |
| Industry revenue per employee | $3.3M |
| Revenue = employees × revenue per employee | $27.8M |
| EBITDA margin (industry, adjusted for size) | 23% |
| EBITDA = revenue × margin | $6.3M |
| Cross-check: revenue implied by PPP payroll | $7.8M |
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 | $34.7M |
| Multiple for this size and industry | 5.5× |
| Value range | $16.4M – $49.3M |
| Revenue range | $16.4M – $32.9M |
| EBITDA range | $3.7M – $7.5M |
| Industry (NAICS) | Crude Petroleum Extraction (211120) |
Low confidence: the employee-based and payroll-based estimates differ by more than 2×.
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
- BankingMidFirst BankPPP / 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
| MidFirst Bank PPP 2020, PPP 2021 | All 2,403 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/16/2020 | first | $41K | 6 |
| 1/20/2021 | second | $38K | 2 |
About Petroleum Development Company
Petroleum Development Company is a crude petroleum extraction company in Tulsa, Oklahoma. Its estimated annual revenue is about $27.8M, with roughly $6.3M of EBITDA. It has about 2 employees. Its estimated business value is $34.7M (likely range $16.4M–$49.3M).
Common questions
- Who owns Petroleum Development Company?
- The owner of Petroleum Development Company 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 Petroleum Development Company make?
- SeeBITDA estimates Petroleum Development Company's annual revenue at about $27.8M (likely between $16.4M and $32.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Petroleum Development Company worth?
- About $34.7M, roughly 5.5× its estimated EBITDA of $6.3M, typical for a crude petroleum extraction company its size. Likely range: $16.4M–$49.3M.
- How many employees does Petroleum Development Company have?
- About 2, from its 2024 retirement-plan filing.