Mammoth Energy Announces that its Cobra Subsidiary has Entered into a Contract to Aid in the Rebuilding of Puerto Rico's Energy Infrastructure
The work to be provided by Cobra includes the following:
- Comprehensive damage assessment of existing electrical grid.
- Engineering services to aid in the design of a new electric utility grid to
Puerto Rico Electric Power Authority(PREPA) specifications.
- Construction services to rebuild the electric grid.
- Fully self-contained solution including all operational and life support related to operating within the disaster area without creating an additional strain on the local population.
The initial mobilization of construction equipment and personnel is expected to begin in the coming days with people currently in place performing an initial damage and engineering assessment to determine the full scope of work required. This contract will be incremental to Mammoth's existing energy service operations.
Mammoth will hold a conference call to discuss its Cobra subsidiary and the
Individuals wishing to participate in the conference call should dial (844) 265-1561 or (216) 562-0385 for international callers, and use the passcode 5295548. The conference call will also be webcast and can be found at www.mammothenergy.com in the "Investors" section of the company's website.
Mammoth Energy is an integrated, growth-oriented energy service company serving companies engaged in the exploration and development of North American onshore unconventional oil and natural gas reserves. Mammoth Energy's suite of services and products include: pressure pumping services, well services, natural sand and proppant services, contract and directional drilling services and other energy services.
Mammoth chose to expand its integrated model into utility energy infrastructure through the formation of Cobra. Cobra is focused on all facets of the utility infrastructure industry particularly though Transmission and Distribution (T&D) networks and substation construction. Cobra currently has operations in the southeast, mid-west and midcontinent portions of
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 include "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. 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 news release specifically include statements, estimates and projections regarding Mammoth's business outlook and plans, future financial position, liquidity and capital resources, operations, performance, including under Cobra Energy's utility infrastructure restoration contract in
Readers 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. Mammoth undertakes 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.
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