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Mammoth Energy Services, Inc. Announces Sale of Engineering Business
Mammoth Energy sold Aquawolf LLC for $30 million to support portfolio optimization and secure $23.5 million in cash proceeds, enhancing deployment opportunities.
- Oklahoma City-based Mammoth Energy Partners LLC completed the sale of all equity interests in Aquawolf LLC to Qualus, LLC for $30 million, according to a Tuesday press release.
- The company said the sale advances its ongoing transformation and portfolio optimization initiatives, expanding deployment opportunities, and Mark Layton, Chief Financial Officer, said `This transaction provides another clear proof point of the strategic value we've unlocked this year.`
- At closing, Mammoth Energy Partners LLC received $23.5 million in cash proceeds and placed $2.5 million into escrow, with Fifth Third Bank, National Association, consenting and releasing collateral.
- TUSK shares rose in after-hours trading to $1.9 after the regular session closed at $1.76, down 0.84%, with an $85.06 million market cap.
- Aquawolf grew revenue from $12.1 million in 2022 to $17.3 million in 2024 and generated $12.0 million revenue for the nine months ended September 30, 2025; Mammoth Energy Services, Inc. said the sale reinforces belief in value disconnect from the current share price.
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Mammoth Energy Sells Aquawolf Engineering Div. to Qualus for $30M - Marcellus Drilling News
Oilfield services company (OFS) Mammoth Energy Services, headquartered in Oklahoma City, OK, operates in the Marcellus/Utica Shale and other major plays like the Permian and SCOOP/STACK. Mammoth announced yesterday that it has completed the sale of its wholly owned engineering subsidiary, Aquawolf LLC, to Qualus, LLC for $30.0 million. The company says the sale advances...
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Total News Sources24
Leaning Left1Leaning Right0Center12Last UpdatedBias Distribution92% Center
Bias Distribution
- 92% of the sources are Center
92% Center
C 92%
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