Mammoth Energy Services expands operationsPublished: Wednesday, August 8, 2018 By: Adam Wilmoth Source: NewsOK
One of Oklahoma's fastest-growing companies, Mammoth Energy Services continued to expand in the second quarter, buying up two more companies and securing new contracts throughout the country.
In a conference call with analysts on Tuesday, Mammoth executives detailed the company's recent growth, including how it has secured about $470 million in utility services contracts because of its efforts to restore electricity in Puerto Rico.
Mammoth subsidiary Cobra Acquisitions LLC has had crews working in Puerto Rico since October 2017 to help restore power following Hurricane Maria. The company's initial 120-day, $200 million contract ballooned to $950 million by March, and the company in May secured an additional one-year, $900 million contract to complete the emergency restoration and begin broader efforts to strengthen the island's power system.