Hurricane Maria Hit the Commonwealth of Puerto Rico on September 20, 2017. In October 2017 Mammoth Energy’s subsidiary Cobra Acquisitions proposed and was awarded the first of two contracts by the Puerto Rico Electric and Power Authority (PREPA) totaling $1.2 billion to begin rebuilding and restoring power to Puerto Rico.

Working with PREPA and other Puerto Rican authorities from December 2017 to March 2019, in challenging terrain, Mammoth Energy’s subsidiary Cobra Acquisitions’ team successfully restored and rebuilt the power grid in Puerto Rico.

And then inexplicably and without notice, in May 2019 PREPA stopped communicating and paying Mammoth Energy’s subsidiary Cobra Acquisitions, leaving over $300 million in unpaid bills for a project completed. And even though FEMA obligated and sent this money to the island at the end of 2020, PREPA continues to breach its contractual obligations for payment to this day.

Still in 2023 the company continues its fight for payment from PREPA with no explanation from PREPA or Puerto Rico as to the whereabouts of this money or when they plan to pay. From 2020 to present Mammoth Energy and its subsidiary Cobra Acquisitions has shed over half of its work force while over $300 million accrues $3 million monthly in contractually stipulated interest, due in large part, to this inexcusable breach of contract by PREPA.