True Well Service, LLC
How we got $15.2M
Based on its 37 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
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.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| TRUE WELL SERVICE, LLC this business | $14.2M | — |
| TRUE ENERGY SERVICES, LLC Ada · 3 employees | $1.5M | 0.0 mi |
| UNITED ENERGY AND EXPLORA TION LLC Ada · 6 employees | $2.7M | 0.0 mi |
| ARCHIBALD OIL & GAS OPERA TIONS INC Ada · 18 employees | $7.5M | 0.2 mi |
| ARCHIBALD OIL & GAS OPERATIONS, INC. Ada · 18 employees | $9.0M | 0.2 mi |
| AMERICANA ENERGY, INC Ada · 3 employees | $1.3M | 0.2 mi |
| GRAYSON INVESTMENTS LLC Ada · 2 employees | $1.4M | 0.2 mi |
The full calculation
| Employees reported to the SBA | 37 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $14.6M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $10.6M |
| Estimate: the two combined (geometric mean) | $14.2M |
| EBITDA margin (industry, adjusted for size) | 24% |
| EBITDA = revenue × margin | $3.5M |
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 | $15.2M |
| Multiple for this size and industry | 4.4× |
| Value range | $8.0M – $20.9M |
| Revenue range | $9.3M – $16.2M |
| EBITDA range | $2.3M – $3.9M |
| 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
History & advisors
Advisors
- BankingCitizens Bank of AdaPPP / 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 Roles are as stated there and may be out of date.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
| Citizens Bank of Ada PPP 2020, PPP 2021 | All 171 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/4/2020 | first | $377K | 37 |
| 1/16/2021 | second | $371K | 37 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About True Well Service, LLC
True Well Service, LLC is an oil & gas company in Ada, Oklahoma. It is owned by KEVIN CANTRELL. Its estimated annual revenue is about $14.2M, with roughly $3.5M of EBITDA. It has about 37 employees. Its estimated business value is $15.2M (likely range $8.0M–$20.9M).
Common questions
- Who owns True Well Service, LLC?
- True Well Service, LLC is owned by KEVIN CANTRELL, according to public sources such as the company's website or filings.
- How much revenue does True Well Service, LLC make?
- SeeBITDA estimates True Well Service, LLC's annual revenue at about $14.2M (likely between $9.3M and $16.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is True Well Service, LLC worth?
- About $15.2M, roughly 4.4× its estimated EBITDA of $3.5M, typical for a oil & gas company its size. Likely range: $8.0M–$20.9M.
- How many employees does True Well Service, LLC have?
- About 37, as reported on its PPP loan.