Benzinga | Dec 1, 2021 02:02PM EST

Mammoth Energy Pockets Two Fiber-Related Contracts

* Mammoth Energy Services Inc's (NASDAQ:TUSK) fiber division has secured two fiber-related contracts from two different electric cooperatives in the Midwest. The financial terms were not disclosed.

* The company will provide make-ready construction services in preparation for fiber installation under one contract and will provide fiber installation services under the other contract.

* The company expects the projects to generate an aggregate of ~$7.7 million in revenue over the next 18 months. The projects will begin in the coming weeks.

* "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.

* Price Action: TUSK shares are trading lower by 1.04% at $1.91 on the last check Wednesday.