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PPP Loan Data — Power Rig, LLC, Woodward, OK

SBA PPP loan data, payroll data, and salaries for Power Rig, LLC

Power Rig, LLC

Entity: Limited Liability Company (LLC)

Industry: Drilling Oil and Gas Wells

Location: Woodward, OK

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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:


Loan Approved:




Power 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.

Because the loan received by Power Rig, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Power Rig, LLC in Woodward, OK

Power Rig, LLC
5060 Western Ave
Woodward, OK 73801

Business Industry

Drilling Oil and Gas Wells (NAICS code 213111)

Business Owner Demographics

Race / Ethnicity: WHITE


Veteran Status: NON-VETERAN

Congressional District: OK-03

Similar 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).

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.

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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.

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