Mammoth Energy Services is to expand through the acquisition of silica sand manufacturer Taylor Frac and two oil field service companies. The deal will create a company with more than $900 million in annual revenue that can provide services for companies like ExxonMobil, ConocoPhillips, Marathon Oil Corp. and Royal Dutch Shell Plc.
Mammoth Energy Services is to expand through the acquisition of silica sand manufacturer Taylor Frac and two oil field service companies. Oklahoma-based Mammoth Energy will issue 7 million common shares, based on pro-rata ownership of the acquired firms, as part of the all-stock deal worth a total consideration of $133.8m.