Mammoth receives $150M PREPA settlement, pays off debt, raises capex guidance to $23M

MAMMOTH ENERGY SERVICES, INC.

Received $150M first installment from PREPA settlement; total settlement proceeds $188.4M.
Paid off $50.9M in full including interest; terminated term credit facility with Wexford Capital.
Company now debt-free; Wexford waived 1% early termination penalty.
Increased 2024 capex guidance to $23M (up $11M) for infrastructure crew growth and maintenance.
Appeals of settlement order filed by Puerto Rico municipalities and Foreman Electric; Company believes meritless.

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