Dozens of energy companies in Oklahoma took advantage of the federal Paycheck Protection Program created by Congress during the COVID-19 pandemic.
More than 64,000 business and organizations received nearly $5.5 billion in forgivable loans under the program including oil and gas firms, transportation companies and others.
As the political news website NonDoc recently reported, more than 57,000 business entities including nonprofits each received loans up to $149,999 while another 6,800 received more than $150,000. Another 44 received between $5 million and $10 million and their total funds amounted to between $220 and $440 million.
A review of those firms receiving the larger loans included LSB Industries Inc. in Oklahoma City, a major chemical manufacturing firm, Advantage Energy Services of McAlester, American Piping Inspection of Tulsa, Latshaw Drilling of Tulsa, Legend Energy Services of Oklahoma City and United Petroleum Transports of Oklahoma City.
A list of those firms that received loans of $2 to $5 million included Mach Energy Services LLC and Mach Resources Inc., both of Oklahoma City; Mustang Fuel Corporation of Oklahoma City and Frontier Drilling LLC of Oklahoma City, Hutchinson Oil Company of Elk City, Impac Exploration Services of Weatherford, Industrial Piping Companies of Pryor, and Panhandle Oilfield Service of Oklahoma City.
Those firms that received loans in the $1 million to $2 million range included Allegiant Energy Services LLC of Oklahoma City, Atlas Drilling of Woodward, Big Elk Energy Systems of Tulsa, Bluefin Water Solutions of Purcell, Canadian Valley Electric Cooperative of Seminole and Canyon Oilfield Services of Elk City.
The list of firms can be downloaded here as published by NonDoc.