Mammoth Energy Services

Mammoth Energy Services, Inc. engages in the exploration and development of North American onshore unconventional oil and natural gas reserves. It operates through the following segments: Infrastructure, Pressure Pumping, Natural Sand Proppant, Drilling, and Other. The Infrastructure segment offers construction, upgrade, maintenance and, repair services to the electrical infrastructure industry. The Pressure Pumping segment provides pressure pumping services, also known as hydraulic fracturing, to exploration and production companies. The Natural Sand Proppant segment refers to mining, processing, and selling sand. The Drilling segment includes contract land, directional drilling, and rig moving services. The company was founded on June 3, 2016 and is headquartered in Oklahoma City, OK.

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Mammoth Energy Services posts robust Q4 results amidst supply challenges

Mammoth Energy Services delivered strong financial results in Q4 2022, driven by revenue growth and operational enhancements.
While facing supply chain challenges and inflation, the company remains optimistic about future growth and shareholder value.
Efforts to pursue payment from PREPA and upgrade equipment underscore Mammoth's commitment to sustainable growth and financial stability.

Mammoth Energy Services reports robust Q1 performance amidst challenges

Mammoth Energy Services delivered a strong performance in Q1 2023, marked by improved financial metrics and growth in key business segments.
While facing challenges from supply chain constraints and payment delays, the company remains resilient and optimistic about future prospects.
Strategic initiatives to manage near-term challenges and focus on operational excellence underscore Mammoth Energy's commitment to sustainable growth.
With a diverse service portfolio and proactive financial management, Mammoth Energy is well-positioned to capitalize on opportunities for expansion and market growth.

Mammoth Energy Services tackles challenges, eyes growth opportunities in 2024

Mammoth Energy Services navigated challenges in Q2 2023, with lower demand impacting certain divisions. Despite this, the company demonstrated strengths in their sand business and infrastructure services, showing resilience and growth potential.
Efforts to refinance debt, secure liquidity, and return value to shareholders through a stock repurchase program highlight Mammoth's proactive approach to financial management and long-term sustainability.
While facing short-term challenges and uncertainties, Mammoth Energy Services remains focused on leveraging opportunities for growth, operational improvements, and financial stability as they progress towards a stronger position in 2024.

Mammoth Energy secures liquidity, anticipates growth despite revenue challenges

Despite challenges in certain divisions, Mammoth Energy Services is focused on operational efficiencies and growth opportunities.
The company's successful refinancing and anticipation of increased completion activity signal positive momentum for the future.
Mammoth Energy's financial performance in Q3 2023 reflects a strategic approach to securing liquidity and managing debt.

Mammoth Energy Services faces Q4 challenges but eyes growth in 2024

Mammoth Energy Services navigated challenges in Q4 2023, with revenue decline attributed to market conditions. Despite this, the company showed strength in its infrastructure division and strategic initiatives. Looking ahead, Mammoth Energy Services is poised for growth in 2024, with opportunities in infrastructure expansion and investment in new technologies.

Mammoth Energy Services faces Q1 revenue decline but eyes growth

Mammoth Energy Services navigated challenges in Q1 2024 but sees opportunities for growth ahead. Strategic cost management, liquidity position, and revised CapEx provide a solid foundation. The company's focus on operational efficiency and optimism for future opportunities underpin its outlook.

Mammoth Energy Services plans to leverage PREPA settlement for growth

Mammoth Energy Services navigated challenges in Q2 but showed growth in Infrastructure Services.
The company aims to use PREPA settlement proceeds to strengthen its financial position and drive growth.
Efforts on cost management and strategic positioning position Mammoth for future opportunities.
Despite settlement charges impacting earnings, Mammoth remains focused on long-term value creation.

Mammoth Energy Services achieves debt-free status and eyes strategic growth

Mammoth Energy Services navigated challenges in Q3 2024, focusing on becoming debt-free, investing in equipment upgrades, and exploring strategic growth opportunities.
Despite industry softness, the company's strong cash position, commitment to enhancing capabilities, and proactive approach to M&A present a promising outlook for future growth.
With a revised CapEx budget and a focus on well completion services and T&D infrastructure, Mammoth is poised to capitalize on opportunities and drive performance improvements.

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OKLAHOMA CITY , Nov. 7, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. (NASDAQ: TUSK) ("Mammoth" or the "Company") today announced that Arty Straehla has notified Mammoth's Board of Directors of his decision to retire as the CEO of the Company, effective as of December 31, 2024. He will remain the CEO of the Company until Phil Lancaster, who currently serves as the Company's Vice President of Corporate Development, transitions into the role of the Chief Executive Officer.

Mammoth Energy Services, Inc. Announces CEO Transition

Mammoth Energy Services, Inc. (NASDAQ:TUSK ) Q3 2024 Earnings Conference Call November 1, 2024 10:00 AM ET Company Participants Zach Vaughan - Investor Relations Arty Straehla - Chief Executive Officer Mark Layton - Chief Financial Officer Conference Call Participants Josh Jayne - Daniel Energy Partners Operator Greetings and welcome to the Mammoth Energy Services Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Mammoth Energy Services, Inc. (TUSK) Q3 2024 Earnings Call Transcript

OKLAHOMA CITY , Nov. 1, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. (NASDAQ: TUSK) ("Mammoth" or the "Company") today reported financial and operational results for the third quarter ended September 30, 2024. Arty Straehla, Chief Executive Officer of Mammoth commented, "Softness across our Well Completion Services markets appeared to have bottomed in the third quarter, and we expect a rebound in the fourth quarter.

Mammoth Energy Services, Inc. Announces Third Quarter 2024 Operational and Financial Results

OKLAHOMA CITY , Oct. 28, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. (NASDAQ: TUSK) (the "Company"), announced today that it will disclose its 2024 third quarter financial results before the market opens on Friday, November 1, 2024. In conjunction with the earnings release, the Company has scheduled a conference call and webcast to discuss third quarter results on the same day at 10:00 a.m.

Mammoth Energy Services, Inc. Announces 2024 Third Quarter Earnings Release and Conference Call Schedule

OKLAHOMA CITY , Oct. 21, 2024 /PRNewswire/ -- Cobra Acquisitions LLC ("Cobra"), a wholly owned subsidiary of Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK), today announced the receipt of $18.4 million from the Puerto Rico Electric Power Authority ("PREPA") in accordance with the previously announced Settlement Agreement.   Arty Straehla, Chief Executive Officer, commented, "We are pleased to have received the next installment payment under our Settlement Agreement with PREPA and look forward to receiving the final installment of $20 million upon the confirmation of PREPA's plan of adjustment in their bankruptcy proceedings.

Cobra Acquisitions LLC Announces Receipt of $18.4 Million From PREPA

Mammoth Energy Services has significant potential in electrical infrastructure, especially post-natural disasters, with a strong cash position and no debt. EF Hutton's raised price target suggests optimism, particularly with potential surprises in Q3 and Q4 due to hurricane impacts and increased gas drilling activity. TUSK's infrastructure services show growth, driven by increased storm-related work and opportunities from the Infrastructure Investment and Jobs Act.

Mammoth Energy Services: Scratch And Dent Sale, Come On Down

OKLAHOMA CITY , Oct. 3, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK) today announced the payoff and termination of its term credit facility with Wexford Capital LP. On October 2, 2024, the Company used a portion of the proceeds received from the first installment payment from the previously disclosed settlement agreement with the Puerto Rico Electric Power Authority to pay off all outstanding amounts under its term credit facility, including accrued and unpaid interest, in the aggregate amount of $50.9 million, and terminated the facility.

Mammoth Announces Payoff and Termination of Term Credit Facility and Increase in 2024 Capital Expenditure Guidance

OKLAHOMA CITY , Oct. 1, 2024 /PRNewswire/ --Cobra Acquisitions LLC ("Cobra"), a wholly owned subsidiary of Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK), today announced the receipt of $150 million from the Commonwealth of Puerto Rico in accordance with the Settlement Agreement with the Puerto Rico Electric Power Authority ("PREPA"). Arty Straehla, Chief Executive Officer, commented, "We are happy to have received the initial $150 million in settlement proceeds.

Cobra Acquisitions LLC Announces Receipt of $150 Million

PREPA Required to Pay Cobra $150 Million within Ten Business Days OKLAHOMA CITY , Sept. 19, 2024 /PRNewswire/ -- Cobra Acquisitions LLC ("Cobra"), a wholly owned subsidiary of Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK), today announced that the previously disclosed Settlement Agreement with the Puerto Rico Electric Power Authority ("PREPA") was approved by the Title III Court at the omnibus hearing held on September 18, 2024.

Cobra Acquisitions LLC Announces Approval of Settlement Agreement by Title III Court

Mammoth Energy Services, Inc. (NASDAQ:TUSK ) Q2 2024 Earnings Conference Call August 9, 2024 10:00 AM ET Company Participants Ken Denard - Dennard Lascar Investor Relations Arty Straehla - Chief Executive Officer Mark Layton - Chief Financial Officer Conference Call Participants John Daniel - Daniel Energy Partners David Marsh - Singular Research Operator Greetings and welcome to the Mammoth Energy Services Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Mammoth Energy Services, Inc. (TUSK) Q2 2024 Earnings Call Transcript

OKLAHOMA CITY , Aug. 9, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK) today reported financial and operational results for the second quarter ended June 30, 2024. Financial Overview for the Second Quarter 2024: Total revenue was $51.5 million for the second quarter of 2024 compared to $43.2 million for the first quarter of 2024.

Mammoth Energy Services, Inc. Announces Second Quarter 2024 Operational and Financial Results

OKLAHOMA CITY , July 29, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. (NASDAQ: TUSK) (the "Company"), announced today that it will disclose its 2024 second quarter financial results before the market opens on Friday, August 9, 2024. In conjunction with the earnings release, the Company has scheduled a conference call and webcast to discuss second quarter results on the same day at 10:00 a.m.

Mammoth Energy Services, Inc. Announces 2024 Second Quarter Earnings Release and Conference Call Schedule

Total Settlement Proceeds Expected to be Approximately $188 Million OKLAHOMA CITY , July 22, 2024 /PRNewswire/ -- Cobra Acquisitions LLC ("Cobra"), a wholly owned subsidiary of Mammoth Energy Services, Inc., ("Mammoth" or the "Company") (NASDAQ: TUSK) today announced that it has entered into a release and settlement agreement with the Puerto Rico Electric Power Authority ("PREPA") and the Financial Oversight and Management Board for Puerto Rico, in its capacity as Title III representative for PREPA ("FOMB"), to settle all outstanding matters between Cobra and PREPA (the "Settlement Agreement"). Arty Straehla, Chief Executive Officer, commented, "We are pleased to have reached this resolution with PREPA and look forward to receiving the money for work we concluded over five years ago.

COBRA ACQUISITIONS LLC ANNOUNCES SETTLEMENT AGREEMENT WITH PREPA

Mammoth Energy Services, Inc. (NASDAQ:TUSK ) Q1 2024 Results Conference Call May 2, 2024 10:00 AM ET Company Participants Zach Vaughan - Investor Relations Arty Straehla - Chief Executive Officer Mark Layton - Chief Financial Officer Conference Call Participants Blake McLean - Daniel Energy Partners Michael Mathison - Singular Research Operator Greetings, and welcome to the Mammoth Energy Services First Quarter Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Mammoth Energy Services, Inc. (TUSK) Q1 2024 Earnings Call Transcript

Mammoth's Q1 2024 results were quite weak, with negative $6 million in adjusted EBITDA, excluding PREPA interest. Only an average of 0.6 of its 6 pressure pumping fleets were active in Q1 2024. I still expect a 1H 2025 rebound in demand, but Mammoth will need to manage its liquidity for the rest of 2024.

Mammoth Energy Services: Dealing With Challenging Near-Term Business Conditions

OKLAHOMA CITY , May 2, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK) today reported financial and operational results for the first quarter ended March 31, 2024. Financial Overview for the First Quarter 2024: Total revenue was $43.2 million for the first quarter of 2024 compared to $116.3 million for the same quarter of 2023 and $52.8 million for the fourth quarter of 2023.

Mammoth Energy Services, Inc. Announces First Quarter 2024 Operational and Financial Results

OKLAHOMA CITY , April 22, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. (NASDAQ: TUSK) (the "Company"), announced today that it will disclose its 2024 first quarter financial results before the market opens on Thursday, May 2, 2024. In conjunction with the earnings release, the Company has scheduled a conference call and webcast to discuss first quarter results on the same day at 10:00 a.m.

MAMMOTH ENERGY SERVICES, INC. ANNOUNCES 2024 FIRST QUARTER EARNINGS RELEASE AND CONFERENCE CALL SCHEDULE

Mammoth Energy Services, Inc. (TUSK) Q4 2023 Earnings Call Transcript

OKLAHOMA CITY , March 1, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK) today announced payment of $50.6 million from the Puerto Rico Electric Power Authority ("PREPA") for a portion of the work its wholly-owned subsidiary Cobra Acquisitions LLC ("Cobra") completed in the aftermath of Hurricane Maria. This is in addition to $13.4 million paid by PREPA in January 2024.

Mammoth Energy Services, Inc. Announces PREPA's Payment of $50.6 Million and Reports Fourth Quarter and Full Year 2023 Operational and Financial Results

Mammoth Energy Services, Inc. exchanged some of its Puerto Rico Electric Power Authority accounts receivables for cash upfront from a third party. Mammoth will give the next $54.4 million paid by PREPA to the SPCP Group and is receiving $46.3 million in net proceeds. The proceeds help pay off Mammoth's credit facility debt and gives it the ability to weather a period of challenging business results.

Mammoth Energy: Improved Liquidity By Partially Monetizing Accounts Receivables

OKLAHOMA CITY , Feb. 12, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. (NASDAQ: TUSK) (the "Company"), announced today that it will disclose its 2023 fourth quarter and full year financial results before the market opens on Friday, March 1, 2024. In conjunction with the earnings release, the Company has scheduled a conference call and webcast to discuss fourth quarter and full year results on the same day at 10:00 a.m.

MAMMOTH ENERGY SERVICES, INC. ANNOUNCES 2023 FOURTH QUARTER AND FULL YEAR EARNINGS RELEASE AND CONFERENCE CALL SCHEDULE

OKLAHOMA CITY , Dec. 6, 2023 /PRNewswire/ -- Cobra Acquisitions LLC ("Cobra"), a wholly owned subsidiary of Mammoth Energy Services, Inc., ("Mammoth" or the "Company") (NASDAQ: TUSK) today announced that, on December 1, 2023, it entered into an agreement to transfer approximately $54.4 million of its outstanding receivable with the Puerto Rico Electric Power Authority ("PREPA") to SPCP Group, LLC ("SPCP Group") in exchange for net proceeds of $46.3 million. Mark Layton, Chief Financial Officer, commented, "We are pleased to enter this agreement with SPCP Group to monetize a portion of our outstanding receivable with PREPA.

COBRA ACQUISITIONS LLC ANNOUNCES MONETIZATION OF A PORTION OF THE PREPA RECEIVABLE

Mammoth's adjusted EBITDA is currently fairly minimal, excluding interest on its PREPA accounts receivables. It is facing challenges with weak demand for its pressure pumping fleets, and this may last well into 2024 given low natural gas prices. Mammoth has received around $22 million in PREPA repayments in 2023 so far, and has a high chance of receiving another $78 million.

Mammoth Energy Services: Making Progress With Repayments From PREPA

OKLAHOMA CITY , Nov. 9, 2023 /PRNewswire/ -- Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK) today reported financial and operational results for the third quarter ended September 30, 2023. Financial Overview for the Third Quarter 2023: Total revenue was $65.0 million for the third quarter of 2023 compared to $107.2 million for the same quarter last year and $75.4 million for the second quarter of 2023.

Mammoth Energy Services, Inc. Announces Third Quarter 2023 Operational and Financial Results

OKLAHOMA CITY , Nov. 1, 2023 /PRNewswire/ -- Mammoth Energy Services, Inc. (NASDAQ: TUSK) (the "Company"), announced today that it will disclose its 2023 third quarter financial results before the market opens on Thursday, November 9, 2023. In conjunction with the earnings release, the Company has scheduled a conference call and webcast to discuss third quarter results on the same day at 10:00 a.m.

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