OKC firm secures $200 million contract to restore power in Puerto Rico
Oklahoma City-based Mammoth Energy Services Inc. is sending crews to repair power lines and infrastructure in Puerto Rico as part of a $200 million contract with the local electric utility on the island, the company said Friday.
As part of the 120-day contract, crews from Mammoth subsidiary Cobra Acquisitions LLC have spent the past week in Puerto Rico assessing damage to the island's electric infrastructure. More Cobra crews and equipment are expected to arrive in Puerto Rico next week when they will begin making repairs.
"We intend to work quickly to restore power and a sense of normalcy to the people of Puerto Rico," Mammoth CEO Arty Straehla said Friday on a conference call with analysts.
Mammoth executives said they have not yet determined how many people they will send to the island, but that it the effort could require Cobra to at least temporarily double its workforce of about 250 people. The company will hire temporary workers and rent equipment to meet the contract obligations, said Don Crist, Mammoth's director of investor relations.
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