Mammoth Energy Services Inc. announced that its subsidiaries, Piranha Proppant LLC and Taylor Frac LLC, have entered into two sand supply agreements with third-party service providers with terms of 12 months and 21 months, respectively, beginning on Jan. 1, 2023.
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This Week’s Market Buzz
• Oil prices slid at press time, building on last week’s steep losses, as rising Covid cases prompted fears of a demand slowdown. West Texas Intermediate crude futures declined 2.5% to trade at $66.60 per barrel. International benchmark Brent crude declined 2.2% to $69.15 per barrel.
Read MoreMammoth Energy Services Closes Taylor Frac Deal
Mammoth Energy Services, Inc. announced that it closed the acquisitions of Sturgeon Acquisitions LLC, which includes Sturgeon’s wholly owned subsidiaries Taylor Frac LLC, Taylor Real Estate Investments LLC, South River Road LLC, Stingray Cementing LLC and Stingray Energy Services LLC for 7 million shares of Mammoth common stock on June 5, 2017.
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• Mammoth Energy Services has agreed to acquire frac sand mining company Taylor Frac and two oilfield service businesses for issuance of 7 million common shares. Based upon Mammoth Energy Services’ March 20 closing price of $19.06/share, the value of the transaction is $133.8 million, including the assumption of $7.3 million in debt. Mammoth Energy Services said it plans to…
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