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PPP Loan Data — Noram Drilling Company,
Houston, TX
Noram Drilling Company
Entity: Corporation
Industry: Support Activities for Oil and Gas Operations
Location: Houston, TX
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Noram Drilling Company is a corporation located at 8400 N Sam Houston Pkwy W Ste 120 in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a male owned business, and employed at least 151 people during the applicable loan loan period.
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PPP Loan Information
Loan #1988328410
Loan Size:
Jobs Retained:
151Loan Approved:
2021-02-03Loan Status:
Paid in Full or ForgivenLender:
Prosperity BankNoram Drilling Company in Houston, TX received a Paycheck Protection Loan of $2M through Prosperity Bank, which was approved in February, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in November, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Noram Drilling Company's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 151 jobs retained, this equals an estimated average yearly compensation of $63,576 per employee1
Reported PPP Proceed Usage:
On the PPP application, Noram Drilling Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Noram Drilling Company in Houston, TX
8400 N Sam Houston Pkwy W Ste 120
Houston, TX 77064
Business Industry:
Support Activities for Oil and Gas Operations
NAICS code 213112
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 39 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 151) and received an average PPP loan of $384,392 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Mines Power LLC
Houston, TX
Artesia Ecoscience Operating LLC
Houston, TX
Marland Process LLC
Houston, TX
Kurt Wiseman Oil And Gas, LTD
Houston, TX
Fortesa International Inc
Houston, TX
Integrity Gas Services, LLC
Houston, TX
Deltatek Energy, Inc
Houston, TX
James Emmet Mcmurrer III
Houston, TX
Industry PPP Comparison Statistics
Nationwide, 20,748 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $3.85B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 12 employees, 92% lower than Noram Drilling Company's reported 151 employees, and received an average PPP loan of $185,324, 91% lower than this company's loan of $2M.
Noram Drilling Company
Entity: Corporation
Industry: Crude Petroleum Extraction
Location: Houston, TX
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Noram Drilling Company is a corporation located at 8400 N Sam Houston Parkway West Suite 12o in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $5,500,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 100 people during the applicable loan loan period.
$
PPP Loan Information
Loan #9594137202
Loan Size:
Jobs Retained:
100Loan Approved:
2020-04-28Loan Status:
Paid in Full or ForgivenLender:
Prosperity BankNoram Drilling Company in Houston, TX received a Paycheck Protection Loan of $5.5M through Prosperity Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 2021.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 100 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 264. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Noram Drilling Company's 2019 payroll expenses are estimated to be at least $26.4M (not accounting for salary amounts > $100k).
Because the 100 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Noram Drilling Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,500,000
Business Information - Noram Drilling Company in Houston, TX
8400 N Sam Houston Parkway West Suite 12o
Houston, TX 77064
Business Industry:
Crude Petroleum Extraction
NAICS code 211120
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 15 businesses in the "Crude Petroleum Extraction " industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 100) and received an average PPP loan of $489,222 (compared to this company's $5.5M).
Similar Nearby Businesses Who Received PPP Funding:
Glenn Andrews
Houston, TX
Lively Exploration Company
Houston, TX
Dunwoody Holdings LP
Houston, TX
New Dawn Energy LLC
Houston, TX
Americo Energy Resources LLC
Houston, TX
Big '6' Drilling Company
Houston, TX
Cheney Energy Partners LLC
Houston, TX
Ycos Inc
Houston, TX
Industry PPP Comparison Statistics
Nationwide, 5,858 businesses in the "Crude Petroleum Extraction " industry received a total of $637.65M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 7 employees, 93% lower than Noram Drilling Company's reported 100 employees, and received an average PPP loan of $108,851, 98% lower than this company's loan of $5.5M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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