Exhibit 99.1

Mammoth Energy Services, Inc. Announces

Fourth Quarter and Full Year 2022 Operational and Financial Results

Q4 Revenue Up 80% and Full Year Revenue Up 58%

Financial Overview for the Fourth Quarter and Full Year 2022:

Well Completion Services

Infrastructure Services

Natural Sand Proppant Services

Drilling Services

Other Services

Selling, General and Administrative Expenses

Liquidity

Capital Expenditures

Conference Call Information

About Mammoth Energy Services, Inc.

Forward-Looking Statements and Cautionary Statements

This news release (and any oral statements made regarding the subjects of this release, including on the conference call announced herein) contains certain statements and information that may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts that address activities, events or developments that Mammoth expects, believes or anticipates will or may occur in the future are forward-looking statements. The words “anticipate,” “believe,” “ensure,” “expect,” “if,” “intend,” “plan,” “estimate,” “project,” “forecasts,” “predict,” “outlook,” “aim,” “will,” “could,” “should,” “potential,” “would,” “may,” “probable,” “likely” and similar expressions, and the negative thereof, are intended to identify forward-looking statements. Without limiting

the generality of the foregoing, forward-looking statements contained in this press release specifically include statements, estimates and projections regarding the Company’s business outlook and plans, future financial position, liquidity and capital resources, operations, performance, acquisitions, returns, capital expenditure budgets, costs and other guidance regarding future developments. Forward-looking statements are not assurances of future performance. These forward-looking statements are based on management’s current expectations and beliefs, forecasts for the Company’s existing operations, experience and perception of historical trends, current conditions, anticipated future developments and their effect on Mammoth, and other factors believed to be appropriate. Although management believes that the expectations and assumptions reflected in these forward-looking statements are reasonable as and when made, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all). Moreover, the Company’s forward-looking statements are subject to significant risks and uncertainties, including those described in its Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings it makes with the SEC, including those relating to the Company’s acquisitions and contracts, many of which are beyond the Company’s control, which may cause actual results to differ materially from historical experience and present expectations or projections which are implied or expressed by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: any continuing impacts of the COVID-19 pandemic, related global and national health concerns and economic repercussions; demand for our services; the volatility of oil and natural gas prices and actions by OPEC members and other exporting nations affecting commodities prices and production levels; the impact of the war in Ukraine on the global energy and capital markets and global stability; operational challenges relating to the COVID-19 pandemic and efforts to mitigate the spread of the virus, including logistical challenges, protecting the health and well-being of our employees, remote work arrangements, performance of contracts and supply chain disruptions; inflationary pressures; rising interest rates and their impact on the cost of capital; the outcome of ongoing government investigations and other legal proceedings, including those relating to the contracts awarded to the Company’s subsidiary Cobra Acquisitions LLC ("Cobra") by the Puerto Rico Electric Power Authority ("PREPA"); the failure to receive or delays in receiving governmental authorizations, approvals and/or payments, including payments with respect to the PREPA account receivable for prior services to PREPA performed by Cobra; the Company’s inability to replace the prior levels of work in its business segments, including its infrastructure and well completion services segments; risks relating to economic conditions, including concerns over a potential economic slowdown or recession; impacts of the recent federal infrastructure bill on the infrastructure industry and our infrastructure services business; the loss of or interruption in operations of one or more of Mammoth’s significant suppliers or customers; the loss of management and/or crews; the outcome or settlement of our litigation matters and the effect on our financial condition and results of operations; the effects of government regulation, permitting and other legal requirements; operating risks; the adequacy of capital resources and liquidity; Mammoth's ability to (i) continue to comply with or, if applicable, obtain a waiver of forecasted or actual non-compliance with certain financial covenants from its lenders and comply with other terms and conditions under its amended revolving credit facility, as amended, (ii) extend, repay or refinance its revolving credit facility at or prior to maturity on the terms acceptable to Mammoth or at all and (iii) meet its financial projections associated with reducing its debt; weather; natural disasters; litigation; volatility in commodity markets; competition in the oil and natural gas and infrastructure industries; and costs and availability of resources.

Investors are cautioned not to place undue reliance on any forward-looking statement which speaks only as of the date on which such statement is made. We undertake no obligation to correct, revise or update any forward-looking statement after the date such statement is made, whether as a result of new information, future events or otherwise, except as required by applicable law.

Adjusted EBITDA

Consolidated

Well Completion Services

			Three Months Ended												Years Ended
			December 31,																		December 31,
Reconciliation of Adjusted EBITDA to net income (loss):			2022						2021												2022						2021
Net income (loss)			$	7,838					$	(4,659)											$	10,194					$	(58,051)
Depreciation and amortization expense			4,140						6,709												22,103						26,377
Gains on disposal of assets, net			(68)						(122)												(615)						(770)
Public offering costs			—						—												—						31
Stock based compensation			106						80												380						333
Interest expense			617						419												1,940						1,107
Other expense (income), net			1						1												(343)						1,843
Interest on trade accounts receivable			—						—												—						(1,841)
Adjusted EBITDA			$	12,634					$	2,428											$	33,659					$	(30,971)

Infrastructure Services

			Three Months Ended												Years Ended
			December 31,																		December 31,
Reconciliation of Adjusted EBITDA to net income (loss):			2022						2021												2022						2021
Net income (loss)			$	1,609					$	(5,992)											$	4,933					$	(36,711)
Depreciation and amortization expense			3,675						4,380												16,171						21,880
(Gains) losses on disposal of assets, net			—						(31)												(795)						(286)
Impairment of goodwill			—						891												—						891
Impairment of other long-lived assets			—						665												—						665
Public offering costs			—						—												—						39
Stock based compensation			88						100												349						500
Interest expense			2,046						1,613												7,390						3,925
Other income, net			(10,522)						(4,100)												(40,470)						(6,499)
Provision for income taxes			3,250						3,175												13,427						712
Interest on trade accounts receivable			10,785						9,571												41,276						36,551
Adjusted EBITDA			$	10,931					$	10,272											$	42,281					$	21,667

Natural Sand Proppant Services

			Three Months Ended												Years Ended
			December 31,																		December 31,
Reconciliation of Adjusted EBITDA to net (loss) income:			2022						2021												2022						2021
Net (loss) income			$	(2,849)					$	2,858											$	(1,945)					$	(6,328)
Depreciation, depletion, amortization and accretion expense			2,015						1,946												8,732						9,005
Losses (gains) on disposal of assets, net			1						12												(89)						(30)
Public offering costs			—						—												—						12
Stock based compensation			29						39												119						202
Interest expense			201						183												753						474
Other (income) expense, net			(4)						6												(14)						(844)
Interest on trade accounts receivable			—						—												—						(1)
Adjusted EBITDA			$	(607)					$	5,044											$	7,556					$	2,490

Drilling Services

			Three Months Ended												Years Ended
			December 31,																		December 31,
Reconciliation of Adjusted EBITDA to net loss:			2022						2021												2022						2021
Net loss			$	(2,027)					$	(2,590)											$	(7,510)					$	(11,307)
Depreciation expense			1,539						1,812												6,467						7,996
Losses (gains) on disposal of assets, net			113						(11)												(172)						(202)
Public offering costs			—						—												—						2
Stock based compensation			5						5												18						76
Interest expense			166						116												545						293
Other expense, net			—						34												—						25
Adjusted EBITDA			$	(204)					$	(634)											$	(652)					$	(3,117)

Adjusted Net Income (Loss) and Adjusted Earnings (Loss) per Share