OKLAHOMA CITY,
Dec. 1, 2021
/PRNewswire/ -- Mammoth Energy Services, Inc. (NASDAQ: TUSK)
("Mammoth" or the "Company") today announced that its fiber
division, which was organically started only a few months ago, has
been awarded two fiber-related contracts with two different
electric cooperatives in the Midwest. Under one of the contracts,
the Company will provide make-ready construction services in
preparation for fiber installation. Under the second contract, the
Company will provide fiber installation services. The projects,
which the Company anticipates will begin in the coming weeks, are
expected to generate an aggregate of approximately $7.7 million in revenue over the next 18
months.
"These contracts mark the first projects for our newly
established fiber business and reflect the ongoing expansion of our
infrastructure suite of services," said Arty Straehla, CEO of
Mammoth. "The recently passed infrastructure bill contains
$65 billion to improve broadband
access across the U.S. Of this amount, over $40 billion is for new fiber construction. We
expect this to create opportunities for many providers to continue
to build or start to build fiber networks for their customers and
anticipate bidding opportunities for projects like the ones we have
been awarded to be robust as a result of the new infrastructure
bill."
Mammoth Energy Services, Inc.
Mammoth is an integrated, growth-oriented energy services
company focused on the construction and repair of the electric grid
for private utilities, public investor-owned utilities and
co-operative utilities through its infrastructure services
businesses. The Company also provides products and services to
enable the exploration and development of North American onshore
unconventional oil and natural gas reserves. Mammoth's suite of
services and products include: infrastructure services, well
completion services, natural sand and proppant services, drilling
services and other energy services. For more information, please
visit www.mammothenergy.com.
Contact:
Mark Layton,
Chief Financial Officer
mlayton@mammothenergy.com
(405) 608-6007
Investors:
Rick
Black
rblack@dennardlascar.com
(832) 435-0026
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SOURCE Mammoth Energy Services, Inc.