Mammoth Energy gets new financing


Mammoth Energy Services, Inc., announced that, on October 16, 2023, it entered into a new revolving credit facility agreement and a new term loan agreement, which refinanced, in full, Mammoth’s indebtedness outstanding under its previous revolving credit facility.

The new five-year revolving credit facility with Fifth Third Bank, National Association (“Fifth Third”), provides for revolving commitments of up to $75 million, subject to a borrowing base calculation prepared monthly. The new five-year term loan agreement with Wexford Capital LP (“Wexford”), an affiliate of Mammoth, provides for term commitments of $45 million.

Mark Layton, Chief Financial Officer, commented, “We are pleased with the outcome of this refinancing transaction and look forward to building a long-term relationship with Fifth Third. In addition, we appreciate Wexford and their ongoing commitment to the Company. We believe these new agreements will provide Mammoth with a strong base of liquidity for years to come.”

Source: press release