FederalPay.org
PPP Loan Data — Power Rig, LLC,
Woodward, OK
Power Rig, LLC
Entity: Limited Liability Company (LLC)
Industry: Drilling Oil and Gas Wells
Location: Woodward, OK
Tweet This
•
Search All PPP Data
Power Rig, LLC is a limited liability company (LLC) located at 5060 Western Ave in Woodward, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $2,890,300.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 156 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
156Loan Approved:
2020-04-14Lender:
BANK 7Power Rig, LLC received a Paycheck Protection Loan of $2.89M through BANK 7, which was approved in April, 2020.
Based on standard PPP eligibility rules, Power Rig, LLC's total 2019 payroll expenses were approximately $13.87M in order to qualify for the PPP loan amount received.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $88,932 per employee1.
Business Information - Power Rig, LLC in Woodward, OK
5060 Western Ave
Woodward, OK 73801
Business Industry
Drilling Oil and Gas Wells (NAICS code 213111)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: OK-03Similar Companies near Woodward
In the Woodward area, 8 businesses in the "Drilling Oil and Gas Wells" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 156) and received an average PPP loan of $862,814 (compared to this company's $2.89M).
Similar Nearby Businesses Who Received PPP Funding:
Mid-Con Exploration, LLC
Woodward, OK
Security Compression
Woodward, OK
Hot Oil Units, Inc
Woodward, OK
Atlas Drilling, LLC
Woodward, OK
T4 Consulting
Woodward, OK
Wildcat Drilling Servises Inc
Woodward, OK
Hybrid Drilling Inc.
Woodward, OK
Industry PPP Comparison Statistics
Nationwide, 2,946 businesses in the "Drilling Oil and Gas Wells" industry received a total of $499,833,830.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 93% lower than Power Rig, LLC's reported 156 employees, and received an average PPP loan of $169,665, 94% lower than this company's loan of $2.89M.
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.
Footnotes & Information
1. 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.
Have FederalPay.org's open data tools been valuable? Consider donating!