Special Energy Corporation
How we got $11.0M
Based on its 18 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale High sell likelihood
- In business 47 years (since 1979)
- Founder still runs it after 47 years
- No family successor named on its website
- Headcount down 31% since 2024 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
Special Energy Corporation is an independent oil and gas operating company based in Stillwater, Oklahoma, founded in 1979. It targets older or abandoned properties and acquires wells to recover additional oil and gas reserves.
From the company's website. Industry: Oil & gas.
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
▼ 50% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 18 | $5.9M |
| 2024 | Form 5500 | 13 | $4.3M |
| 2025 | Form 5500 | 9 | $3.0M |
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 |
|---|---|---|
| SPECIAL ENERGY CORPORATION this business | $10.3M | — |
| OPTIMAL PIPELINE SOLUTIONS, L.L.C. Stillwater | $3.3M | 0.7 mi |
| TOP HAND FIELD SERVICES, LLC Stillwater · 100 employees | $65.5M | 2.4 mi |
| LEGACY DRILLING, LLC Stillwater · 15 employees | $8.3M | 2.6 mi |
| B D B LLC Stillwater · 3 employees | $1.3M | 3.6 mi |
| EARL OIL, INC. Stillwater · 1 employees | $378K | 3.8 mi |
| TERRITORY RESOURCES, LLC Stillwater · 43 employees | $22.2M | 4.0 mi |
The full calculation
| Employees reported to the SBA | 18 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $7.6M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $10.7M |
| Estimate: the two combined (geometric mean) | $10.3M |
| EBITDA margin (industry, adjusted for size) | 24% |
| EBITDA = revenue × margin | $2.5M |
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 | $11.0M |
| Multiple for this size and industry | 4.4× |
| Value range | $5.8M – $15.1M |
| Revenue range | $6.8M – $11.7M |
| EBITDA range | $1.6M – $2.9M |
| 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
“Special Energy Corporation (SEC) began operation in May of 1979 and is based in Stillwater, Oklahoma.”
Leadership
- JEJim Eden, Jr., MBA, CPA, CGMAChief Financial Officer · Company website · source
- GBGary BondVice President, Land · Company website · source
- LBLarry BondVice President, Geology · Company website · source
- DTDon TerryOperations Manager · Company website · source
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 |
|---|---|---|---|
| 4/11/2020 | first | $320K | 18 |
| 3/2/2021 | second | $274K | 17 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Special Energy Corporation
Special Energy Corporation is an oil & gas company in Stillwater, Oklahoma, in business since 1979. It is owned by John F. Special (President). Its estimated annual revenue is about $10.3M, with roughly $2.5M of EBITDA. It has about 9 employees. Its estimated business value is $11.0M (likely range $5.8M–$15.1M).
Common questions
- Who owns Special Energy Corporation?
- Special Energy Corporation is owned by John F. Special (President), according to public sources such as the company's website or filings.
- How much revenue does Special Energy Corporation make?
- SeeBITDA estimates Special Energy Corporation's annual revenue at about $10.3M (likely between $6.8M and $11.7M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Special Energy Corporation worth?
- About $11.0M, roughly 4.4× its estimated EBITDA of $2.5M, typical for a oil & gas company its size. Likely range: $5.8M–$15.1M.
- How many employees does Special Energy Corporation have?
- About 9, from its 2025 retirement-plan filing.
- When was Special Energy Corporation founded?
- Special Energy Corporation has been in business since 1979.
- Is Special Energy Corporation for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 47 years (since 1979); founder still runs it after 47 years; no family successor named on its website.