Winter Mud, LLC
How we got $3.1M
Based on its 10 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Likely to sell
- In business 44 years (since 1982)
- Founder still runs it after 44 years
From public records and the company's website, not a statement that it's for sale.
What they do
Winter Mud, LLC provides drilling fluid products and services and also operates a liquid mud plant and a trucking company, Mud Haulers LLC. It says it serves oil and gas drilling operations in its listed regions.
From the company's website. Industry: Other Chemical and Allied Products Merchant Wholesalers.
Customers & suppliers
Customers
- Shell Oil · named on its website
- Texaco · named on its website
- Phillips · named on its website
- Anadarko · named on its website
- Sinclair · named on its website
- Shamrock · named on its website
- Mobil · named on its website
- Jones Energy · named on its website
- FourPoint · named on its website
- Linn Energy · named on its website
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- GULFPORT ENERGY CORPORATION · Oklahoma City, 6 mi · $1.42B
- MACH RESOURCES LLC · Oklahoma City, 7 mi · $1.18B
- CROWN ENERGY COMPANY · Oklahoma City, 3 mi · $711.4M
- T/J INSPECTION, INC. · Del City, 8 mi · $651.7M
- CIRCLE 9 RESOURCES LLC · Oklahoma City, 5 mi · $557.6M
Estimated value over time
▲ 21% 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 |
|---|---|---|
| WINTER MUD, LLC this business | $20.4M | — |
| ENERGY & ENVIRONMENTAL SERVICES, INC. Oklahoma City | $42.5M | 3.4 mi |
| BG PRODUCTS INC Oklahoma City · 7 employees | $10.9M | 6.1 mi |
| AUTOMATIC FIRE CONTROL, INC. Oklahoma City · 7 employees | $10.5M | 6.6 mi |
| GREAT PLAINS URETHANES DISTRIBUTING INC Oklahoma City · 2 employees | $2.1M | 6.8 mi |
| OIL CENTER RESEARCH OF OKLAHOMA, LLC Oklahoma City · 1 employees | $2.7M | 9.9 mi |
| REVIVE & RESTORE WELLNESS CENTER, LLC. Moore · 1 employees | $1.4M | 14.8 mi |
The full calculation
| Employees reported to the SBA | 10 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $14.1M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $22.6M |
| Estimate: the two combined (geometric mean) | $20.4M |
| EBITDA margin (industry, adjusted for size) | 4% |
| EBITDA = revenue × margin | $853K |
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 | $3.1M |
| Multiple for this size and industry | 3.6× |
| Value range | $1.6M – $4.2M |
| Revenue range | $13.4M – $23.2M |
| EBITDA range | $561K – $973K |
| Industry (NAICS) | Other Chemical and Allied Products Merchant Wholesalers (424690) |
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
“In 1982 Don and Don Ray Winter founded Winter Mud Company in Guymon, Oklahoma.”
Advisors
- BankingProsperity Bank, Equity 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
| Equity Bank PPP 2021 | All 375 borrowers → |
| Prosperity Bank PPP 2020 | All 748 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/30/2020 | first | $264K | 10 |
| 1/25/2021 | second | $264K | 10 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Winter Mud, LLC
Winter Mud, LLC is an other chemical and allied products merchant wholesalers company in Oklahoma Citty, Oklahoma, in business since 1982. It is owned by Don Ray Winter (Founder). Its estimated annual revenue is about $20.4M, with roughly $853K of EBITDA. It has about 10 employees. Its estimated business value is $3.1M (likely range $1.6M–$4.2M).
Common questions
- Who owns Winter Mud, LLC?
- Winter Mud, LLC is owned by Don Ray Winter (Founder), according to public sources such as the company's website or filings.
- How much revenue does Winter Mud, LLC make?
- SeeBITDA estimates Winter Mud, LLC's annual revenue at about $20.4M (likely between $13.4M and $23.2M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Winter Mud, LLC worth?
- About $3.1M, roughly 3.6× its estimated EBITDA of $853K, typical for a other chemical and allied products merchant wholesalers company its size. Likely range: $1.6M–$4.2M.
- How many employees does Winter Mud, LLC have?
- About 10, as reported on its PPP loan.
- When was Winter Mud, LLC founded?
- Winter Mud, LLC has been in business since 1982.
- Is Winter Mud, LLC for sale?
- There's no public listing, but it shows signs that often come before a sale: in business 44 years (since 1982); founder still runs it after 44 years.