Mammoth Energy Services, Inc. Announces PREPA's Payment of $50.6 Million and Reports Fourth Quarter and Full Year 2023 Operational and Financial Results
Mammoth Energy Services, Inc. (TUSK)
Last mammoth energy services, inc. earnings: 2/27 04:01 pm
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Source: PR Newswire
OKLAHOMA CITY, March 1, 2024 /PRNewswire/ -- Mammoth Energy Services, Inc. ("Mammoth" or the "Company") (NASDAQ: TUSK) today announced payment of $50.6 million from the Puerto Rico Electric Power Authority ("PREPA") for a portion of the work its wholly-owned subsidiary Cobra Acquisitions LLC ("Cobra") completed in the aftermath of Hurricane Maria. This is in addition to $13.4 million paid by PREPA in January 2024. As previously announced, on December 1, 2023, Cobra entered into an agreement to transfer approximately $54.4 million of its outstanding receivable with PREPA to SPCP Group, LLC ("SPCP Group"). The aggregate payments from PREPA in 2024 totaling $64.0 million fully satisfied the obligations to SPCP Group and resulted in Cobra receiving approximately $9.6 million in cash.Mark Layton, Chief Financial Officer of Mammoth commented, "We're pleased to have received these payments from PREPA, which has allowed us to extinguish the liability owed to SPCP Group and collect nearly $10
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News
- MAMMOTH ENERGY SERVICES, INC. ANNOUNCES 2024 FIRST QUARTER EARNINGS RELEASE AND CONFERENCE CALL SCHEDULEPR Newswire
- Mammoth Energy Services Inc (TUSK) Reports Mixed Financial Results Amidst Operational Challenges [Yahoo! Finance]Yahoo! Finance
- Mammoth Energy: Improved Liquidity By Partially Monetizing Accounts Receivables [Seeking Alpha]Seeking Alpha
- MAMMOTH ENERGY SERVICES, INC. ANNOUNCES 2023 FOURTH QUARTER AND FULL YEAR EARNINGS RELEASE AND CONFERENCE CALL SCHEDULE [Yahoo! Finance]Yahoo! Finance
- MAMMOTH ENERGY SERVICES, INC. ANNOUNCES 2023 FOURTH QUARTER AND FULL YEAR EARNINGS RELEASE AND CONFERENCE CALL SCHEDULEPR Newswire
TUSK
Sec Filings
- 3/14/24 - Form 4
- 3/14/24 - Form 4
- 3/1/24 - Form 10-K
- TUSK's page on the SEC website