War Horse Resources, LLC
How we got $6.2M
Based on its 48 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Estimated value over time
▲ 4% 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 |
|---|---|---|
| WAR HORSE RESOURCES, LLC this business | $17.3M | — |
| WHEELHORSE ENTERPRISES Tuttle · 13 employees | $6.7M | 8.0 mi |
| OKIE EXCAVATORS El Reno · 17 employees | $4.8M | 10.7 mi |
| ALLABOUT OILFIELD SERVICE INC Yukon · 10 employees | $2.6M | 10.8 mi |
| Davis Water Well Mustang | $5.8M | 11.1 mi |
| DIAMOND OIL FIELD SERVICES INC El Reno · 58 employees | $31.1M | 13.2 mi |
| JOHNSONS RAINMAKER IRRIGATION, INC El Reno · 3 employees | $1.7M | 14.9 mi |
The full calculation
| Employees reported to the SBA | 48 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $17.0M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $13.6M |
| Estimate: the two combined (geometric mean) | $17.3M |
| EBITDA margin (industry, adjusted for size) | 11% |
| EBITDA = revenue × margin | $1.8M |
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 | $6.2M |
| Multiple for this size and industry | 3.4× |
| Value range | $3.3M – $8.5M |
| Revenue range | $11.4M – $19.8M |
| EBITDA range | $1.2M – $2.1M |
| Industry (NAICS) | Oil and Gas Pipeline and Related Structures Construction (237120) |
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
- BankingMidFirst 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 Roles are as stated there and may be out of date.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
| 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 |
|---|---|---|---|
| 4/15/2020 | first | $513K | 48 |
About War Horse Resources, LLC
War Horse Resources, LLC is an oil and gas pipeline and related structures construction company in Minco, Oklahoma. Its estimated annual revenue is about $17.3M, with roughly $1.8M of EBITDA. It has about 48 employees. Its estimated business value is $6.2M (likely range $3.3M–$8.5M).
Common questions
- Who owns War Horse Resources, LLC?
- The owner of War Horse Resources, LLC isn't in public records we've found yet. If you own or run the business, you can add or correct its details on SeeBITDA.
- How much revenue does War Horse Resources, LLC make?
- SeeBITDA estimates War Horse Resources, LLC's annual revenue at about $17.3M (likely between $11.4M and $19.8M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is War Horse Resources, LLC worth?
- About $6.2M, roughly 3.4× its estimated EBITDA of $1.8M, typical for a oil and gas pipeline and related structures construction company its size. Likely range: $3.3M–$8.5M.
- How many employees does War Horse Resources, LLC have?
- About 48, as reported on its PPP loan.