Mammoth Seeks Clarity from FOMB on Status of Overdue Debts from PREPA
In December of 2021, after six week of silence from the Federal Oversight Board (FOMB), Mammoth CEO Arty Straehla wrote a letter to FOMB Chairman David Skeel requesting an update on the overdue payment for work completed in Puerto Rico in the wake of Hurricane Maria in 2017.
“It has been more than six weeks since my last correspondence to you regarding the $325 million dollars owed my company, Mammoth Energy Services, Inc. (“Mammoth”) for work completed more than two years ago by our subsidiary Cobra Acquisitions LLC (“Cobra”) rebuilding Puerto Rico in the wake of Hurricane Maria in 2017. Your silence on the matter is frustrating, as your agency is specifically empowered by the United States Congress under the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”) to provide oversight and accountability on fiscal matters such as these.” - Letter from Mammoth CEO Arty Straehla to FOMB Chairman Daivd Skeel, December 15, 2021
On December 28, 2021, Mammoth received a response from FOMB Executive Director Natalie Jaresko.
On January 5, 2022, Mammoth CEO Arty Straehla responded to the December letter from the FOMB expressing concern that much of the information they received appeared to be from PREPA - certainly not a reliable source of information.
