Two Eight Drilling Inc.
- Rick CrossVice President · Company website
- Shawn SullivanVice President of Operations · Company website
- Mitchell TurnerGeneral Manager · Company website
How we got $5.6M
Based on 29 employees reported for PPP in 2020, grown 8% a year since.
Estimated value over time
▲ 103% 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
▲ 155% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 29 | $10.3M |
| 2020 | Form 5500 | 38 | $13.4M |
| 2021 | Form 5500 | 48 | $17.0M |
| 2022 | Form 5500 | 50 | $17.7M |
| 2023 | Form 5500 | 66 | $23.3M |
| 2024 | Form 5500 | 67 | $23.7M |
| 2025 | Form 5500 | 74 | $26.2M |
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.
What we know
Signs of a sale Likely to sell
- In business 56 years (since 1970)
- No family successor named on its website
From public records and the company's website, not a statement that it's for sale.
What they do
Two Eight is a rock drilling and blasting company that offers drilling, blasting and crushing services to mining, aggregate, construction, infrastructure and water well clients across the United States.
From the company's website. Industry: Water and Sewer Line and Related Structures Construction.
Customers & suppliers
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- ONEOK, Inc. · Tulsa, 60 mi · $33.63B
- Helmerich & Payne · Tulsa, 60 mi · $3.75B
- MAGELLAN MIDSTREAM HOLDINGS GP, LLC · Tulsa, 61 mi · $760.6M
- LATSHAW DRILLING COMPANY, LLC · Tulsa, 50 mi · $251.4M
- EXPLORER PIPELINE COMPANY · Tulsa, 56 mi · $141.7M
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| TWO EIGHT DRILLING INC. this business | $16.7M | — |
| VENTURE DRILLING SUPPLY LLC Tahlequah · 16 employees | $9.2M | 0.0 mi |
| VENTURE SUPPLY SERVICES LLC Tahlequah · 3 employees | $1.7M | 0.0 mi |
| CHAFFIN TOWER SERVICES, INC. Tahlequah · 32 employees | $15.6M | 6.7 mi |
| CHAFFIN TOWERS SERVICES INC Tahlequah · 27 employees | $13.1M | 6.7 mi |
| JERRY'S EXCAVATION INC. Hulbert · 22 employees | $12.7M | 13.2 mi |
| BLAKE SANDERS Cookson · 1 employees | $403K | 13.9 mi |
Ranges & sources
| Revenue range | $12.5M – $21.7M |
| EBITDA range | $1.2M – $2.1M |
| Industry (NAICS) | Water and Sewer Line and Related Structures Construction (237110) |
| Value range | $3.3M – $8.7M |
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
“Since 1970, our teams have drilled and blasted over 17,000,000,000 cubic yards across the United States.”
Advisors
- BankingArmstrong BankPPP / 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
| Armstrong Bank PPP 2020 | All 1,355 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/6/2020 | first | $328K | 29 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Two Eight Drilling Inc.
Two Eight Drilling Inc. is a water and sewer line and related structures construction company in Tahlequah, Oklahoma, in business since 1970. It is owned by Ace McCarthy (President). Its estimated annual revenue is about $16.7M, with roughly $1.6M of EBITDA. It has about 74 employees. Its estimated business value is $5.6M (likely range $3.3M–$8.7M).
Common questions
- Who owns Two Eight Drilling Inc.?
- Two Eight Drilling Inc. is owned by Ace McCarthy (President), according to public sources such as the company's website or filings.
- How much revenue does Two Eight Drilling Inc. make?
- SeeBITDA estimates Two Eight Drilling Inc.'s annual revenue at about $16.7M (likely between $12.5M and $21.7M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Two Eight Drilling Inc. worth?
- About $5.6M, roughly 3.4× its estimated EBITDA of $1.6M, typical for a water and sewer line and related structures construction company its size. Likely range: $3.3M–$8.7M.
- How many employees does Two Eight Drilling Inc. have?
- About 74, from its 2025 retirement-plan filing.
- When was Two Eight Drilling Inc. founded?
- Two Eight Drilling Inc. has been in business since 1970.
- Is Two Eight Drilling Inc. for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 56 years (since 1970); no family successor named on its website.