Brief: Mammoth Energy Services Says Gulfport Notified Co's Unit Of Exercise Of Gulfport's Termination Right

Mammoth Energy Services

23/12/2019 12:38

Dec 23 (Reuters) - Mammoth Energy Services Inc  TUSK.O :
    * MAMMOTH ENERGY SERVICES-ON DEC 18, GULFPORT NOTIFIED CO'S
UNIT
OF EXERCISE OF GULFPORT'S TERMINATION RIGHT UNDER CERTAIN
AMENDED, RESTATED AGREEMENT
    * MAMMOTH ENERGY SERVICES-ON DEC 20, GULFPORT FILED 8-K WITH
SEC
IN WHICH IT STATES EXERCISE OF TERMINATION RIGHT WITH CO'S UNIT
FOR CERTAIN CONTRACT
    * MAMMOTH ENERGY SERVICES-PRIOR TO FILING GULFPORT 8-K,
GULFPORT
HAD NOT PROVIDED CO WITH TERMINATION NOTICE THAT COMPLIES WITH
PROVISIONS OF CONTRACT
    * MAMMOTH ENERGY SERVICES SAYS WHILE CO DID RECEIVE GULFPORT
LETTER ON DEC 18, IT WAS NOT, IN FACT, A NOTICE OF TERMINATION
OF CONTRACT
    * MAMMOTH ENERGY SERVICES-CFO RECEIVED A CALL ON DEC 18 FROM
GULFPORT EXECUTIVE INFORMING THAT GULFPORT FILED LAWSUIT THAT
SEEKS TO TERMINATE CONTRACT
    * MAMMOTH ENERGY SERVICES SAYS NEITHER CO NOR ITS UNIT HAS
BEEN
SERVED WITH SUCH LAWSUIT, AND CO HAS NOT BEEN ABLE TO OBTAIN A
COPY OF ANY SUCH ACTION

Source text: [http://bit.ly/2PPZGVW]
Further company coverage:  TUSK.O 

 (Reuters.Briefs@thomsonreuters.com)