Mammoth Energy Services, Inc. (NASDAQ:TUSK) (“Mammoth” or the “Company”) today 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 January 1, 2023. Under the terms of the agreements, the Company’s subsidiaries have agreed to supply, in aggregate, approximately 1.75 million tons of sand across multiple grades (20/40, 30/50, and 40/70) over the contract periods.
Arty Straehla, Chief Executive Officer, commented, “As we move into 2023, the execution of these sand supply agreements at attractive pricing provides a solid foundation for predictable cash flow in our natural sand proppant division. We believe the timing of these contracts is prudent for capturing favorable pricing and utilizing the capacity of our sand mines by producing all of the grades of sand we can provide.”
