Mammoth Energy 3Q16: “Intense Fracs” in Utica Shale

mammothlogoOilfield services company Mammoth Energy Services, headquartered in Oklahoma City, OK, operates in both the Utica Shale and Permian Basin. Mammoth offers services like “completion and production services, natural sand proppant services, contract land and directional drilling services and remote accommodation services.” Mammoth is a baby company, formed in 2014, but already booking $243 million in revenue for the 12 months ended June 30th. In October, Mammoth announced an initial public offering (IPO) hoping to raise roughly $150 million (see Utica Oilfield Services Co. Mammoth Energy Floats ~$150M IPO). “If wishes were horses, beggars would ride,” as the old saying goes. The IPO didn’t perform as well as hoped, bringing in only $112 million (see Mammoth IPO Not So Mammoth After All – Priced at Low End). Yesterday Mammoth issued its third quarter 2016 update. There is a (very) brief bullet point talking about activity in the Utica Shale…

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