Triple Crown Energy LLC
How we got $130.8M
Based on its 20 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
- In business 19 years (since 2007)
- Family in the business (Chase Williams, Co-Founder and Principal)
- Headcount down 42% since 2022 (retirement plan filings)
From public records and the company's website, not a statement that it's for sale.
What they do
Triple Crown Energy LLC is an independent, privately held oil and gas company based in Tulsa, Oklahoma, that acquires, owns, develops and operates oil and natural gas properties and is building mineral and non-operated working interests.
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
▼ 65% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 20 | $66.3M |
| 2020 | Form 5500 | 9 | $29.8M |
| 2021 | Form 5500 | 9 | $29.8M |
| 2022 | Form 5500 | 12 | $39.8M |
| 2023 | Form 5500 | 9 | $29.8M |
| 2024 | Form 5500 | 7 | $23.2M |
| 2025 | Form 5500 | 7 | $23.2M |
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 |
|---|---|---|
| TRIPLE CROWN ENERGY LLC this business | $102.8M | — |
| PARDUS OIL AND GAS OPERATING LP Tulsa · 6 employees | $24.9M | 0.0 mi |
| PARTHENON TRADING COMPANY Tulsa · 2 employees | $6.2M | 0.3 mi |
| SULLIVAN AND COMPANY LLC Tulsa · 4 employees | $16.6M | 0.3 mi |
| E2 OPERATING LLC Tulsa · 10 employees | $44.3M | 0.3 mi |
| E2 OPERATIONS LLC Tulsa · 10 employees | $44.2M | 0.3 mi |
| DECK OIL CO Tulsa · 4 employees | $13.1M | 0.5 mi |
The full calculation
| Employees reported to the SBA | 20 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $78.3M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $103.8M |
| Estimate: the two combined (geometric mean) | $102.8M |
| EBITDA margin (industry, adjusted for size) | 20% |
| EBITDA = revenue × margin | $20.4M |
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 | $130.8M |
| Multiple for this size and industry | 6.4× |
| Value range | $68.8M – $179.0M |
| Revenue range | $67.6M – $117.2M |
| EBITDA range | $13.4M – $23.3M |
| 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
People & advisors
“From our humble roughneck beginnings to the heights of the great achievements throughout our careers, our history of success is defined by hard work, perseverance, serving others well and making our visions become a reality.”
Leadership
- CWChase WilliamsCo-Founder and Principal · Company website · source
Advisors
- BankingMidFirst Bank, International Bank of CommercePPP / 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
| International Bank of Commerce PPP 2021 | All 442 borrowers → |
| MidFirst Bank PPP 2020 | 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 |
|---|---|---|---|
| 4/10/2020 | first | $546K | 20 |
| 2/1/2021 | second | $399K | 15 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Triple Crown Energy LLC
Triple Crown Energy LLC is a crude petroleum extraction company in Tulsa, Oklahoma, in business since 2007. It is owned by Doyle Williams (Co-Founder and Principal). Its estimated annual revenue is about $102.8M, with roughly $20.4M of EBITDA. It has about 7 employees. Its estimated business value is $130.8M (likely range $68.8M–$179.0M).
Common questions
- Who owns Triple Crown Energy LLC?
- Triple Crown Energy LLC is owned by Doyle Williams (Co-Founder and Principal), according to public sources such as the company's website or filings.
- How much revenue does Triple Crown Energy LLC make?
- SeeBITDA estimates Triple Crown Energy LLC's annual revenue at about $102.8M (likely between $67.6M and $117.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Triple Crown Energy LLC worth?
- About $130.8M, roughly 6.4× its estimated EBITDA of $20.4M, typical for a crude petroleum extraction company its size. Likely range: $68.8M–$179.0M.
- How many employees does Triple Crown Energy LLC have?
- About 7, from its 2025 retirement-plan filing.
- When was Triple Crown Energy LLC founded?
- Triple Crown Energy LLC has been in business since 2007.