PPP Loan Data — Samson Resources II Opco, LLC, Tulsa, OK
Samson Resources II Opco, LLC is a limited liability company (LLC) located at 15 East 5th Street, Ste 1000 0.0 in Tulsa, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $1,621,321.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Samson Resources II Opco, LLC in Tulsa, OK received a Paycheck Protection Loan of $1.62M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 78. 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
Understanding Payroll Estimates Based On PPP Amount
Based 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, Samson Resources II Opco, LLC's 2019 payroll expenses are estimated to be at least $7.78M (not accounting for salary amounts > $100k).
Because the 68 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, Samson Resources II Opco, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,526,745
- Rent: $94,576
Business Information - Samson Resources II Opco, LLC in Tulsa, OK
15 East 5th Street, Ste 1000 0.0
Tulsa, OK 74103
Crude Petroleum Extraction
NAICS code 211120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Tulsa
In the Tulsa area, 28 businesses in the "Crude Petroleum Extraction " industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 68) and received an average PPP loan of $232,261 (compared to this company's $1.62M).
Similar Nearby Businesses Who Received PPP Funding:
Petroglobe Energy, LLC
Lawson Petroleum Company
Petroleum Development Company
Gemini Oil Company Inc
Eagle Road Oil LLC
Contrast Energy, LLC
Diamond Energy Services,LP
Industry PPP Comparison Statistics
Nationwide, 5,870 businesses in the "Crude Petroleum Extraction " industry received a total of $637.96M 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, 90% lower than Samson Resources II Opco, LLC's reported 68 employees, and received an average PPP loan of $108,682, 93% lower than this company's loan of $1.62M.
FederalPay's PPP Information Policy
Footnotes & Information
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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