Wolf Energy Services Inc. Reports Earnings Results for the First Quarter Ended June 30, 2022

Wolf Energy Services Inc., through its wholly owned subsidiary, Banner Midstream Corp., has two operating subsidiaries: Pinnacle Frac Transport LLC (Pinnacle Frac) and Capstone Equipment Leasing LLC (Capstone). Pinnacle Frac provides transportation of frac sand and logistics services to hydraulic fracturing and drilling operations. Pinnacle Frac provides logistics services for its customers’ fracking and drilling enterprises, including the operation of a 24/7 dispatch service center based in Texas through which Banner Midstream dispatches trucks for hauling frac sand and related equipment. Pinnacle Frac uses independent third-party owner-operators of trucks to service its customers in their fracking operations by transporting materials, mainly frac sand. Pinnacle Frac uses a third party’s licensed software, Sandbox, to monitor and execute its transportation and logistics operations. Capstone procures and finances equipment for oilfield transportation service contractors.