Mammoth Energy Services, Inc. Announces Sale of Infrastructure Subsidiaries
1. Mammoth Energy Services sold subsidiaries for $108.7 million, enhancing cash position. 2. CEO Phil Lancaster will transition to Peak Utility Services Group in 2025. 3. Company purchased eight aircraft for $11.5 million to diversify rental fleet. 4. Amendments to credit facility allow for stock repurchases and expanded investment. 5. Increased cash reserves and ongoing expansion may yield positive financial outcomes.