Exhibit

The unaudited condensed combined financial statements have been prepared as if the Acquisition occurred on September 13, 2014, in the case of the unaudited condensed combined statements of comprehensive (loss) income for the years ended December 31, 2016, 2015 and 2014 and the three months ended March 31, 2017 and on March 31, 2017 in the case of the unaudited condensed combined balance sheet as of March 31, 2017. The unaudited condensed combined financial statements have also been prepared based on certain adjustments, as described in Note 2— Eliminations and are qualified in their entirety by reference to and should be read in conjunction with the following historical financial statements and related notes contained in those financial statements: (i) Sturgeon’s audited combined financial statements as of December 31, 2016 and 2015, and the results of its operations and its cash flows for the years then ended and the period September 13, 2014 to December 31, 2014 set forth in Exhibit 99.3 of this Report; (ii) Sturgeon's unaudited financial statements as of and for three months ended March 31, 2017 and 2016 set forth in Exhibit 99.4 of this Report; (iii) the Company’s audited combined financial statements as of and for years ended December 31, 2016, 2015 and 2014 set forth in its Annual Report on Form 10-K and filed with the Securities and Exchange Commission (the "SEC") and (iv) the Company’s unaudited combined interim financial statements as of and for the three months ended March 31, 2017 and 2016 set forth in its Quarterly Report on Form 10-Q and filed with the SEC.



ASSETS	Mammoth			Sturgeon		Sturgeon				Mammoth
	Historical			(A)		Eliminations				As Adjusted
CURRENT ASSETS
Cash and cash equivalents	$	12,278,120		$	649,122	$	—			$	12,927,242
Accounts receivable, net	24,973,332			639,174		—				25,612,506
Receivables from related parties	33,141,299			4,259,995		(4,967,907		)	a, b	32,433,387
Inventories	4,922,627			1,174,944		—				6,097,571
Prepaid Expenses	3,402,022			157,409		—				3,559,431
Other current assets	1,182,058			—		—				1,182,058
Total current assets	79,899,458			6,880,644		(4,967,907		)		81,812,195

Property, plant and equipment, net	244,021,697			20,705,745		—				264,727,442
Sand reserves, net	—			55,365,025		—				55,365,025
Intangible assets, net - customer relationships	13,859,772			—		—				13,859,772
Intangible assets, net - trade names	5,439,307			—		—				5,439,307
Goodwill	86,043,148			2,683,727		—				88,726,875
Other non-current assets	5,239,582			252,296		—				5,491,878
Total assets	$	434,502,964		$	85,887,437	$	(4,967,907	)		$	515,422,494

LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable	$	37,237,976		$	3,099,594	$	—			$	40,337,570
Payables to related parties	4,921,129			707,912		(4,967,907		)	a, c	661,134
Accrued expenses and other current liabilities	8,825,877			386,021		—				9,211,898
Income taxes payable	—			—		—				—
Current maturities of long-term debt	—			—		—				—
Total current liabilities	50,984,982			4,193,527		(4,967,907		)		50,210,602

Long-term debt	—			—		—				—
Deferred income taxes	43,881,012			—		—				43,881,012
Other liabilities	2,733,863			—		—				2,733,863
Total liabilities	97,599,857			4,193,527		(4,967,907		)		96,825,477

EQUITY
Equity:
Common stock	375,000			—		—				375,000
Additional paid in capital	400,775,752			—		—				400,775,752
Member's equity	—			81,693,910		—				81,693,910
Accumulated Deficit	(61,259,392		)	—		—				(61,259,392		)
Accumulated other comprehensive loss	(2,988,253		)	—		—				(2,988,253		)
Total equity	336,903,107			81,693,910		—				418,597,017
Total liabilities and equity	$	434,502,964		$	85,887,437	$	(4,967,907	)		$	515,422,494



	Mammoth			Sturgeon			Sturgeon				Mammoth
	Historical			(A)			Eliminations				As Adjusted
REVENUE
Services revenue	$	27,091,882		$	—		$	—			$	27,091,882
Services revenue - related parties	33,132,571			—			(170,914		)	a, b	32,961,657
Product revenue	2,615,209			756,854			—				3,372,063
Product revenue - related parties	11,576,151			7,618,808			(7,654,540		)	a, b	11,540,419
Total Revenue	74,415,813			8,375,662			(7,825,454		)		74,966,021

COST AND EXPENSES
Services cost of revenue	45,460,804			—			—				45,460,804
Services cost of revenue - related parties	494,345			—			(64,428		)	a, c	429,917
Product cost of revenue	5,376,897			7,230,368			—				12,607,265
Product cost of revenue - related parties	7,554,380			206,646			(7,761,026		)	a, c	—
Selling, general and administrative	5,844,093			235,811			332,640			a, c	6,412,544
Selling, general and administrative - related parties	377,717			279,177			(332,640		)	a, c	324,254
Depreciation and amortization	16,893,777			343,474			—				17,237,251
Impairment of long-lived assets	—			—			—				—
Total cost and expenses	82,002,013			8,295,476			(7,825,454		)		82,472,035
Operating (loss) income	(7,586,200		)	80,186			—				(7,506,014		)

OTHER (EXPENSE) INCOME
Interest expense	(286,338		)	(110,846		)	—				(397,184		)
Other, net	(170,041		)	(14,105		)	—				(184,146		)
Total other expense	(456,379		)	(124,951		)	—				(581,330		)
Loss before income taxes	(8,042,579		)	(44,765		)	—				(8,087,344		)
Provision for income taxes	(3,106,065		)	—			—				(3,106,065		)
Net (loss) income	$	(4,936,514	)	$	(44,765	)	$	—			$	(4,981,279	)

OTHER COMPREHENSIVE LOSS
Foreign currency translation adjustment	228,110			—			—				228,110
Comprehensive (loss) income	$	(4,708,404	)	$	(44,765	)	$	—			$	(4,753,169	)

Net loss per share (basic and diluted) (Note 3)											$	(0.11	)
Weighted average number of shares outstanding (Note 3)											44,500,000



	Mammoth			Sturgeon			Sturgeon			Mammoth
	Historical			(A)			Eliminations			As Adjusted
REVENUE
Services revenue	$	89,642,899		$	—		$	—		$	89,642,899
Services revenue - related parties	107,599,378			—			(452,378		)	107,147,000
Product revenue	5,433,141			2,619,304			—			8,052,445
Product revenue - related parties	28,323,303			24,853,721			(27,393,771		)	25,783,253
Total Revenue	230,998,721			27,473,025			(27,846,149		)	230,625,597

COST AND EXPENSES
Services cost of revenue	139,807,987			—			255,029			140,063,016
Services cost of revenue - related parties	5,575,092			—			(4,511,861		)	1,063,231
Product cost of revenue	7,577,660			24,096,338			218,047			31,892,045
Product cost of revenue - related parties	20,589,170			3,220,649			(23,807,364		)	2,455
Selling, general and administrative	15,836,165			781,536			672,922			17,290,623
Selling, general and administrative - related parties	894,810			536,004			(672,922		)	757,892
Depreciation and amortization	69,910,858			2,404,540			—			72,315,398
Impairment of long-lived assets	1,870,885			—			—			1,870,885
Total cost and expenses	262,062,627			31,039,067			(27,846,149		)	265,255,545
Operating loss	(31,063,906		)	(3,566,042		)	—			(34,629,948		)

OTHER (EXPENSE) INCOME
Interest expense	(3,711,457		)	(384,725		)	—			(4,096,182		)
Other, net	252,239			(94,066		)	—			158,173
Total other expense	(3,459,218		)	(478,791		)	—			(3,938,009		)
Loss before income taxes	(34,523,124		)	(4,044,833		)	—			(38,567,957		)
Provision for income taxes	53,884,871			—			—			53,884,871
Net loss	$	(88,407,995	)	$	(4,044,833	)	$	—		$	(92,452,828	)

OTHER COMPREHENSIVE LOSS
Foreign currency translation adjustment	2,710,605			—			—			2,710,605
Comprehensive loss	$	(85,697,390	)	$	(4,044,833	)	$	—		$	(89,742,223	)

Net loss per share (basic and diluted) (Note 3)										$	(2.40	)
Weighted average number of shares outstanding (Note 3)										38,500,000



	Mammoth			Sturgeon			Sturgeon				Mammoth
	Historical			(A)			Eliminations				As Adjusted
REVENUE
Services revenue	$	172,012,405		$	—		$	—			$	172,012,405
Services revenue - related parties	132,674,989			—			(122,131		)	a, b	132,552,858
Product revenue	16,732,077			8,457,482			—				25,189,559
Product revenue - related parties	38,517,222			23,185,931			(23,521,183		)	a, b	38,181,970
Total Revenue	359,936,693			31,643,413			(23,643,314		)		367,936,792

COST AND EXPENSES
Services cost of revenue	225,820,450			—			123,818			a, c	225,944,268
Services cost of revenue - related parties	4,177,335			—			(2,798,502		)	a, c	1,378,833
Product cost of revenue	25,838,555			21,525,593			—				47,364,148
Product cost of revenue - related parties	20,510,977			457,653			(20,968,630		)	a, c	—
Selling, general and administrative	19,303,557			1,354,695			791,180			a, c	21,449,432
Selling, general and administrative - related parties	1,237,991			503,777			(791,180		)	a, c	950,588
Depreciation and amortization	72,393,882			2,104,692			—				74,498,574
Impairment of long-lived assets	12,124,353			—			—				12,124,353
Total cost and expenses	381,407,100			25,946,410			(23,643,314		)		383,710,196
Operating (loss) income	(21,470,407		)	5,697,003			—				(15,773,404		)

OTHER (EXPENSE) INCOME
Interest income	98,492			—			—				98,492
Interest expense	(5,290,821		)	(173,726		)	—				(5,464,547		)
Other, net	(2,157,764		)	(111,294		)	—				(2,269,058		)
Total other expense	(7,350,093		)	(285,020		)	—				(7,635,113		)
(Loss) income before income taxes	(28,820,500		)	5,411,983			—				(23,408,517		)
Benefit for income taxes	(1,589,086		)	—			—				(1,589,086		)
Net (loss) income	$	(27,231,414	)	$	5,411,983		$	—			$	(21,819,431	)

OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustment	(4,814,819		)	—			—				(4,814,819		)
Comprehensive (loss) income	$	(32,046,233	)	$	5,411,983		$	—			$	(26,634,250	)

Net loss per share (basic and diluted) (Note 3)											$	(0.59	)
Weighted average number of shares outstanding (Note 3)											37,000,000



				September 13 to December 31,
	Mammoth			Sturgeon							Mammoth
	Historical			(A)			Eliminations				As Adjusted
REVENUE
Services revenue	$	182,341,309		$	—		$	—			$	182,341,309
Services revenue - related parties	30,834,421			—			—				30,834,421
Product revenue	36,859,731			14,301,656			—				51,161,387
Product revenue - related parties	9,490,543			3,910,574			(2,008,800		)	c, d	11,392,317
Total Revenue	259,526,004			18,212,230			(2,008,800		)		275,729,434

COST AND EXPENSES
Services cost of revenue	150,482,793			—			—				$	150,482,793
Services cost of revenue - related parties	1,770,565			—			(1,029,974		)	c, f	740,591
Product cost of revenue	35,525,596			9,360,221			—				44,885,817
Product cost of revenue - related parties	3,289,947			111,398			(978,826		)	c, f	2,422,519
Selling, general and administrative	14,272,986			1,510,985			—				15,783,971
Selling, general and administrative - related parties	2,754,877			—			—				2,754,877
Depreciation and amortization	35,627,165			738,433			—				36,365,598
Impairment of long-lived assets	—			—			—				—
Total cost and expenses	243,723,929			11,721,037			(2,008,800		)		253,436,166
Operating income	15,802,075			6,491,193			—				22,293,268

OTHER (EXPENSE) INCOME
Interest income	214,141			—			—				$	214,141
Interest expense	(4,603,595		)	—			—				(4,603,595		)
Interest expense - related parties	(184,479		)	—							(184,479		)
Other, net	(5,724,496		)	(2,668		)	—				(5,727,164		)
Total other expense	(10,298,429		)	(2,668		)	—				(10,301,097		)
Income before income taxes	5,503,646			6,488,525			—				11,992,171
Provision for income taxes	7,514,194			—			—				$	7,514,194
Net (loss) income	$	(2,010,548	)	$	6,488,525		$	—			$	4,477,977

OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation adjustment	472,714			—			—				$	472,714
Comprehensive (loss) income	$	(1,537,834	)	$	6,488,525		$	—			$	4,950,691

Net earnings per share (basic and diluted) (Note 3)											$	0.16
Weighted average number of shares outstanding (Note 3)											28,056,073

The unaudited condensed combined financial statements are based upon the historical combined financial statements of the Company and the historical financial statements of Sturgeon. The unaudited condensed combined financial statements present the impact of the Acquisition, which is described in the introduction to the unaudited condensed combined financial statements, on the Company's results of operations, and financial position.



		REVENUES								ACCOUNTS RECEIVABLE
		Three Months Ended,		Year Ended December 31,						At March 31,
		March 31, 2017		2016		2015		2014		2017
Sturgeon and Muskie	(i)	$	7,554,380	$	20,586,715	$	20,510,977	$	867,428	$	4,056,830
Sturgeon and Pressure Pumping	(i)	—		4,256,830		2,642,693		1,029,974		—
Sturgeon and Barracuda	(i)	64,428		10,176		—		—		203,165
Sturgeon and SR Logistics	(i)	—		—		32,261		—		—
Sturgeon and Energy Services	(i)	—		—		—		—		—
		$	7,618,808	$	24,853,721	$	23,185,931	$	1,897,402	$	4,259,995

Muskie and Sturgeon	(ii)	$	35,732	$	2,540,050	$	335,252	$	111,398	$	20,193
Mammoth and Sturgeon	(ii)	—		—		—		—		629,492
Barracuda and Sturgeon	(ii)	170,914		452,378		122,131		—		58,227
		$	206,646	$	2,992,428	$	457,383	$	111,398	$	707,912
Sturgeon adjustment, net		$	7,825,454	$	27,846,149	$	23,643,314	$	2,008,800	$	4,967,907



		COST OF REVENUE								ACCOUNTS PAYABLE
		Three Months Ended,		Year Ended December 31,						At March 31,
		March 31, 2017		2016		2015		2014		2017
Sturgeon and Barracuda	(i)	$	170,914	$	452,558	$	122,131	$	—	$	58,227
Sturgeon and Mammoth	(i,ii)	—		35,856		—		—		629,492
Sturgeon and Muskie	(i)	35,732		2,540,050		335,522		111,398		20,193
Sturgeon and Pressure Pumping	(i,ii)	—		192,035		—		—		—
Sturgeon and Stingray Energy	(i,ii)	—		150		—		—		—
		$	206,646	$	3,220,649	$	457,653	$	111,398	$	707,912

Pressure Pumping and Sturgeon	(iii)	$	—	$	4,256,832	$	2,685,202	$	1,029,974	$	—
Muskie and Sturgeon	(iii)	7,554,380		20,586,715		20,510,977		867,428		4,056,830
Barracuda and Sturgeon	(ii, iii)	64,428		255,029		81,039		—		203,165
Stingray Entities and Sturgeon	(iii)	—		—		32,261		—		—
		$	7,618,808	$	25,098,576	$	23,309,479	$	1,897,402	$	4,259,995
Sturgeon adjustment, net		$	7,825,454	$	28,319,225	$	23,767,132	$	2,008,800

		SELLING, GENERAL AND ADMINSTRATIVE
Sturgeon and Mammoth	(i,ii)	$	270,090	$	405,552	$	401,859	$	—	$	—
Sturgeon and Muskie	(i,ii)	—		51,483		19,344		—		—
Sturgeon and Pressure Pumping	(i,ii)	—		44,901		82,574		—		—
Sturgeon and Energy Services	(i,ii)	—		10,364		—		—		—
		$	270,090	$	512,300	$	503,777	$	—	$	—

Mammoth and Sturgeon	(ii, iii)	$	62,550	$	160,622	$	287,403	$	—	$	—
Sturgeon adjustment, net		$	332,640	$	672,922	$	791,180	$	—	$	—
Sturgeon adjustment, net										$	4,967,907

Net income (loss) per common share is determined by dividing the net income (loss) that would have been allocated to the common stockholders by the number of shares of common stock outstanding. In the Company's audited financial statements, the reported weighted average shares outstanding for the three months ended March 31, 2017 was 37,500,000 and for the years ended December 31, 2016, 2015 and 2014 were 31,500,000, 30,000,000 and 21,056,073, respectively. For purposes of this calculation, the Company assumed that shares of common stock outstanding were 44,750,000 for the three months ended March 31, 2017 and 38,500,000, 37,000,000 and 28,056,073 for the years ended December 31, 2016, 2015 and 2014.



INTRODUCTION	1
CONDENSED COMBINED BALANCE SHEET - MARCH 31, 2017	2
CONDENSED COMBINED STATEMENT OF COMPREHENSIVE LOSS FOR THE THREE MONTHS ENDED MARCH 31, 2017	3
CONDENSED COMBINED STATEMENT OF COMPREHENSIVE LOSS FOR THE YEAR ENDED DECEMBER 31, 2016	4
CONDENSED COMBINED STATEMENT OF COMPREHENSIVE LOSS FOR THE YEAR ENDED DECEMBER 31, 2015	5
CONDENSED COMBINED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2014	6
NOTES TO THE CONDENSED COMBINED FINANCIAL STATEMENTS	7


a.	Adjustment column reflects both the revenue (cost) generated (incurred) between Sturgeon and the Company. See d, f and g for breakouts between Sturgeon and the Company as well as references to the audited financial statements.


b.	Revenue and accounts receivable elimination activity as a result of the Acquisition included the following:


(ii)	See Note 12 of Part 1 in the Company's Quarterly Report on Form 10-Q filed with the SEC on May 15, 2017.


c.	Expense and accounts payable elimination activity as a result of the Acquisition of Sturgeon included the following:


(ii)	Predominantly cost reimbursement that is not reflected as revenue recognition in the offsetting party