AllSurplus Selected to Conduct Online Auction of Surplus Offshore Oil and Gas Equipment for Leading Energy Company

Rhea-AI Summary

Liquidity Services (NASDAQ:LQDT) announced the auction of surplus tubular, drilling, and completions equipment in the Gulf of Mexico for a major oil and gas partner. The auctions are hosted on AllSurplus.com until September 14, 2022. Jeff Morter, Director of Energy Sales, emphasized the importance of immediate availability due to supply chain disruptions impacting lead times.

Positive

• Auction of surplus energy equipment, providing potential revenue streams.
• Immediate availability of materials addresses current procurement challenges for companies.

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• None.

Twenty-one auctions of tubular, drilling, and completions equipment offered for sale through online global platform

BETHESDA, Md., Sept. 09, 2022 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ:LQDT), a leading global commerce company powering the circular economy, today announced the auction of energy surplus in the Gulf of Mexico for a leading oil and gas industry partner. The tubular, drilling, and completions equipment is currently available until 5:00 pm EDT September 14, 2022 on AllSurplus.com, the largest online marketplace for surplus business assets.

“As energy projects come to completion, surplus material presents a procurement opportunity for many companies,” said Liquidity Services Director of Energy Sales Jeff Morter. “With current lead times for new material being a challenge caused by supply chain disruptions, immediate availability is of immense value to companies wanting to meet current demand.”

To place a bid, buyers must create an account by completing the free registration form at AllSurplus.com.

About AllSurplus
AllSurplus is the world’s leading marketplace for surplus business assets, ranging from heavy equipment to transportation assets and industrial machinery. AllSurplus is the smartest, fastest way to sell inventory and equipment as sellers can directly launch and manage their listings in just days with more control and lower fees than traditional auction solutions. AllSurplus is powered by one of the most experienced and trusted companies in the surplus industry: Liquidity Services (NASDAQ: LQDT), which has supported millions of customers across the globe. AllSurplus buyers have direct access to all the surplus assets across Liquidity Services’ network of marketplaces in one centralized location.

About Liquidity Services
Liquidity Services (NASDAQ: LQDT) operates the world’s largest B2B e-commerce marketplace platform for surplus assets with over $10 billion of completed transactions to more than 4.8 million qualified buyers and 15,000 corporate and government sellers worldwide. It supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.

Contact:
Nancy Sloane
Director, Brand & Integrated Marketing Communications
(561) 339-8613
nancy.sloane@liquidityservices.com

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b6fdc593-99a6-4cbc-9f39-babc8e5379f7

FAQ

What is the auction by Liquidity Services (LQDT) about?

Liquidity Services is auctioning surplus tubular, drilling, and completions equipment in the Gulf of Mexico, available until September 14, 2022.

How can buyers participate in the Liquidity Services (LQDT) auction?

Buyers can participate by registering for a free account on AllSurplus.com.

What is the deadline for the Liquidity Services (LQDT) equipment auction?

The auction for the surplus equipment ends at 5:00 pm EDT on September 14, 2022.

Who is Liquidity Services (LQDT) partnering with for the auction?

Liquidity Services is partnering with a leading oil and gas industry partner for this auction.