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Mammoth Energy +16% as Cobra inks $900M deal for Puerto Rico work

May 29, 2018 10:43 AM ETMammoth Energy Services, Inc. (TUSK) StockBy: Carl Surran, SA News Editor6 Comments
  • Mammoth Energy Services (NASDAQ:TUSK +16.1%) surges after its Cobra Acquisitions subsidiary signs a $900M contract with the Puerto Rico Electric Power Authority to complete the restoration of the island's electrical transmission and distribution system damaged due to Hurricane Maria.
  • The deal also supports the initial phase of reconstruction of the electrical power system in Puerto Rico.
  • Cobra has been working to restore electrical services in Puerto Rico since last October, and the latest contract award is in addition to the original contract.

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