Ram Energy LLC
How we got $14.1M
Based on its 24 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 46% 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
▲ 5% 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
▼ 46% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 24 | $7.9M |
| 2020 | Form 5500 | 24 | $7.9M |
| 2021 | Form 5500 | 22 | $7.3M |
| 2022 | Form 5500 | 22 | $7.3M |
| 2023 | Form 5500 | 13 | $4.3M |
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 |
|---|---|---|
| RAM ENERGY LLC this business | $13.2M | — |
| DAVIS OPERATING COMPANY Tulsa · 4 employees | $2.2M | 0.1 mi |
| Empire Petroleum Corporation Tulsa | $34.2M | 0.2 mi |
| Bcf Minerals Tulsa | $1.5M | 0.3 mi |
| Brigadier Oil & Gas Tulsa | $1.5M | 0.6 mi |
| GOLDEN GAS SERVICE COMPANY Tulsa · 3 employees | $2.2M | 0.7 mi |
| Huntington Resources, Inc. Tulsa | $1.5M | 0.7 mi |
The full calculation
| Employees reported to the SBA | 24 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $9.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $14.1M |
| Estimate: the two combined (geometric mean) | $13.2M |
| EBITDA margin (industry, adjusted for size) | 24% |
| EBITDA = revenue × margin | $3.2M |
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 | $14.1M |
| Multiple for this size and industry | 4.4× |
| Value range | $7.4M – $19.4M |
| Revenue range | $8.7M – $15.0M |
| EBITDA range | $2.1M – $3.7M |
| Industry (NAICS) | Drilling Oil and Gas Wells (213111) |
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
- 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, PPP 2021 | 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 |
|---|---|---|---|
| 4/29/2020 | first | $501K | 23 |
| 2/13/2021 | second | $525K | 24 |
About Ram Energy LLC
Ram Energy LLC is an oil & gas company in Tulsa, Oklahoma. Its estimated annual revenue is about $13.2M, with roughly $3.2M of EBITDA. It has about 13 employees. Its estimated business value is $14.1M (likely range $7.4M–$19.4M).
Common questions
- Who owns Ram Energy LLC?
- The owner of Ram Energy 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 Ram Energy LLC make?
- SeeBITDA estimates Ram Energy LLC's annual revenue at about $13.2M (likely between $8.7M and $15.0M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Ram Energy LLC worth?
- About $14.1M, roughly 4.4× its estimated EBITDA of $3.2M, typical for a oil & gas company its size. Likely range: $7.4M–$19.4M.
- How many employees does Ram Energy LLC have?
- About 13, from its 2023 retirement-plan filing.