Sanguine Gas Exploration, LLC
- Randolph NelsonPresident · Company website
- Dylan TrotzukVice President · Company website
- Jill BurkeVice President Land · Company website
- Mike LedbetterVice President of Land and A&D · Company website
- Robert SchaffitzelChief Operating Officer · Company website
How we got $197.0M
Based on its 30 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
- Family in the business (Randolph Nelson, President)
From public records and the company's website, not a statement that it's for sale.
What they do
Sanguine Gas Exploration, LLC is described as a third generation exploration company based in Tulsa, Oklahoma. The site offers little detail on its specific operations.
From the company's website. Industry: Crude Petroleum Extraction.
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
▲ 23% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 30 | $99.5M |
| 2020 | Form 5500 | 27 | $89.5M |
| 2021 | Form 5500 | 29 | $96.2M |
| 2022 | Form 5500 | 31 | $102.8M |
| 2023 | Form 5500 | 32 | $106.1M |
| 2024 | Form 5500 | 36 | $119.4M |
| 2025 | Form 5500 | 37 | $122.7M |
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 |
|---|---|---|
| SANGUINE GAS EXPLORATION, LLC this business | $137.6M | — |
| EP ENTERPRISES, INC. Tulsa · 6 employees | $21.6M | 0.0 mi |
| OLIFANT ENERGY LLC Tulsa · 8 employees | $50.7M | 0.1 mi |
| LOWRY EXPLORATION, INC. Tulsa · 2 employees | $5.6M | 0.2 mi |
| SAMSON RESOURCES II OPCO, LLC Tulsa · 68 employees | $326.8M | 0.2 mi |
| RICHARD GIBBON Tulsa · 3 employees | $11.6M | 0.2 mi |
| PATHENON TRADING COMPANY Tulsa · 2 employees | $6.2M | 0.2 mi |
The full calculation
| Employees reported to the SBA | 30 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $117.5M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $123.9M |
| Estimate: the two combined (geometric mean) | $137.6M |
| EBITDA margin (industry, adjusted for size) | 20% |
| EBITDA = revenue × margin | $27.4M |
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 | $197.0M |
| Multiple for this size and industry | 7.2× |
| Value range | $103.6M – $269.5M |
| Revenue range | $90.5M – $156.9M |
| EBITDA range | $18.0M – $31.2M |
| Industry (NAICS) | Crude Petroleum Extraction (211120) |
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
History & advisors
“Katherine represents the fifth generation of her family to work in the oil and gas industry and the third generation to serve at Sanguine.”
Advisors
- BankingBOKF, National AssociationPPP / 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
| BOKF, National Association PPP 2020, PPP 2021 | All 2,399 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/7/2020 | first | $652K | 30 |
| 2/20/2021 | second | $652K | 30 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Sanguine Gas Exploration, LLC
Sanguine Gas Exploration, LLC is a crude petroleum extraction company in Tulsa, Oklahoma, in business since 2017. It is owned by Randy Nelson (President). Its estimated annual revenue is about $137.6M, with roughly $27.4M of EBITDA. It has about 37 employees. Its estimated business value is $197.0M (likely range $103.6M–$269.5M).
Common questions
- Who owns Sanguine Gas Exploration, LLC?
- Sanguine Gas Exploration, LLC is owned by Randy Nelson (President), according to public sources such as the company's website or filings.
- How much revenue does Sanguine Gas Exploration, LLC make?
- SeeBITDA estimates Sanguine Gas Exploration, LLC's annual revenue at about $137.6M (likely between $90.5M and $156.9M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Sanguine Gas Exploration, LLC worth?
- About $197.0M, roughly 7.2× its estimated EBITDA of $27.4M, typical for a crude petroleum extraction company its size. Likely range: $103.6M–$269.5M.
- How many employees does Sanguine Gas Exploration, LLC have?
- About 37, from its 2025 retirement-plan filing.
- When was Sanguine Gas Exploration, LLC founded?
- Sanguine Gas Exploration, LLC has been in business since 2017.