Mammoth Energy Services, Inc
Mammoth Energy Services is a U.S.-based integrated services company serving oil and natural gas, aviation, and utility/fiber infrastructure customers. Its portfolio spans equipment rentals, infrastructure construction and maintenance, natural sand proppant, remote accommodations, and directional drilling, with a focus on asset utilization, margin expansion, and capital efficiency.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2020–2025
Liiketoiminta
Osuus liikevaihdostaEquipment rentals and aviation leasing used in drilling, construction and flight operations.
Engineering, design, construction, upgrade, maintenance and repair for fiber networks.
Mining, processing and sale of Northern White sand used in hydraulic fracturing.
Remote lodging and support services for crews working in field locations.
Directional drilling services provided to oilfield operators.
Asiakkaat
Customers are primarily independent oil and natural gas producers, sand suppliers, fiber network owners, and aircraft-based passenger and cargo operators in North America. The company also serves utilities and co-ops through its infrastructure work, and its customer base is concentrated enough that the loss of a few large accounts can materially affect revenue. Cross-selling across rental, sand, drilling and infrastructure services is an important part of the model.
Buy rental equipment, directional drilling, sand proppant and accommodations to support well development and completion activity.
Buy engineering, construction, upgrade and maintenance services for fiber and utility infrastructure projects.
Buy or source natural sand proppant for hydraulic fracturing and related logistics.
Lease aircraft and aircraft equipment to improve fleet flexibility and avoid residual value risk.
Rent cranes, generators, light plants and related equipment for project-based work.
Strategia
Management is focused on improving asset utilization, expanding margins and allocating capital more efficiently across the portfolio. Near-term priorities include growing the rental business, using aviation assets as a flexible financing tool, and redeploying capital after the infrastructure divestiture into higher-return opportunities.
Rental assets can scale with relatively high incremental returns when utilization improves.
The company wants to use proceeds to fund accretive investments and strengthen returns.
Bundling rentals, sand, drilling and accommodations can deepen customer relationships and improve retention.
Maantiede
2025Operations are concentrated in the United States with a smaller presence in Alberta, Canada. Facilities and service centers are located in Ohio, Texas, Oklahoma, Wisconsin and Alberta to support active basins and fiber markets, while the company serves basins such as West Texas, Appalachia, the SCOOP/STACK, the Arkoma and Anadarko basins, and the Marcellus. Geography matters because the business is tied to local drilling activity, basin access, rail/logistics for sand, and regional fiber buildout demand.
Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.
Riskit
Revenue is exposed to customer concentration, commodity-cycle volatility and project timing in oilfield and infrastructure markets. The business also carries operational and environmental risk from heavy equipment, field operations, and transportation, while asset-heavy segments create impairment and capital-allocation risk if utilization weakens.
- Customer concentrationVaikutus: KorkeaTodennäköisyys: Korkea
A small number of customers account for a large portion of revenue, so non-renewal or non-payment would materially reduce sales.
Kohdistuu: Top five customers were about 55% of revenue in 2025
- Commodity-cycle and drilling activity volatilityVaikutus: KorkeaTodennäköisyys: Korkea
Demand for rentals, drilling, sand and accommodations depends on oil and gas capital spending.
Kohdistuu: Oilfield services and proppant demand
- Asset impairmentVaikutus: KorkeaTodennäköisyys: Korkea
Large equipment, sand reserves and intangible assets may need write-downs if cash flows weaken.
Kohdistuu - Operational and environmental incidentsVaikutus: KorkeaTodennäköisyys: Kohtalainen
Heavy equipment, transportation and field work can cause accidents, spills, fires and claims.
Kohdistuu: Oilfield and infrastructure field operations
Kirjanpito
Harkinnanvaraiset erätThe PREPA settlement drove a large non-cash charge, showing how receivable collectability can materially affect earnings.
Vaikutus: Accounts receivable and operating income
The company recognized impairment on long-lived assets, reflecting sensitivity to utilization and expected cash flows.
Vaikutus: Property, plant and equipment, sand reserves and earnings
Field operations and legacy disputes can create reserves and settlement costs that are hard to forecast.
Vaikutus: Earnings and liquidity
Operating and financing leases are important for rail cars, real estate and infrastructure equipment.
Vaikutus: Balance sheet leverage and EBITDA-like metrics
Samankaltaisia listattuja yhtiöitä
Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.
Liberty Energy Inc.
LBRT · Oil & Gas Field Services, NEC
SM Energy Co
SM · Crude Petroleum & Natural Gas
SM Energy Co is a U.S.-based independent oil and gas exploration and production company focused on crude oil, natural gas, and natural gas liquids.
Atlas Energy Solutions Inc.
AESI · Crude Petroleum & Natural Gas
Diamondback Energy, Inc.
FANG · Crude Petroleum & Natural Gas
Diamondback Energy is an independent U.S.
Energy Services of America CORP
ESOA · Water, Sewer, Pipeline, Comm & Power Line Construction
Energy Services of America is a U.S.
Natural Gas Services Group, Inc
NGS · Oil & Gas Field Services, NEC
Päivitetty: 24.9.2026