MAMMOTH ENERGY SERVICES Business Summary

Mammoth Energy Services, Inc. (TUSK) operates as an integrated energy and infrastructure services provider, generating revenue through a mix of service-based contracts and product sales across North America. The company’s primary business segments include Infrastructure Services (electric grid and fiber optic maintenance), Well Completion (hydraulic fracturing and stimulation), Natural Sand Proppant (mining and logistics), and Drilling Services, which recently saw record margins in the Permian Basin. Additionally, the company has aggressively expanded its Rentals segment, specifically focusing on high-margin aviation rentals, while divesting non-core engineering assets like Aquawolf to optimize its balance sheet. Mammoth competes directly with specialized firms such as Ranger Energy Services (RNGR), RPC Inc. (RES), and Quanta Services (PWR) in the infrastructure space, positioning itself as a diversified, small-cap player that leverages a debt-free capital structure to navigate commodity volatility and infrastructure modernization cycles. The company is led by Chief Executive Officer Phil Lancaster, who assumed the role on January 1, 2025, bringing over two decades of industry experience including previous leadership at Redback Energy Services and Mammoth Energy Partners LP. The executive team includes Mark Layton as Chief Financial Officer and Bernard Lancaster as Chief Operating Officer, both of whom have been instrumental in the company’s 2025-2026 strategic transformation and cost-reduction initiatives. Mammoth was founded in 2014 with significant backing from Wexford Capital LP, which remains the company’s largest shareholder with an approximate 46% stake. The Board of Directors is chaired by Arthur Amron, a Partner at Wexford Capital, and includes notable members such as Dr. Corey Booker and James Palm, ensuring strong alignment between the company’s operational strategy and its institutional investor base.