Mammoth Energy Services applied more political pressure on Puerto Rico to force the country to finish its payments of millions of dollars to the Oklahoma company.
Mammoth called on members of the Financial Oversight and Management Board for Puerto Rico as they met in Washington D.C. to brief federal lawmakers. Mammoth has yet to be paid more than $340 million to its wholly-owned subsidiary, Cobra Acquisitions LLC which performed electrical power restoration work following the 2017 Hurricane Maria.
“When disaster struck, the Mammoth team was there for the people of Puerto Rico, and now we need our elected representatives to be there for us,” said Arty Straehla, Mammoth’s Chief Executive in a statement this week.
“Every day that passes is another day that the interest piles up for the people of Puerto Rico and Mammoth’s business activities are hindered here in the United States. The Puerto Rico Electric Power Authority (“PREPA”) has the financial resources obligated by U.S. taxpayers to pay their debts, but they are simply choosing not to.”
He said Cobra needs the Financial and Oversight board and members of Congress to step in with strict oversight and hold PREPA accountable.
“Time is of the essence.”
