Major Oil and Gas Partner to Sell Drilling Rigs on AllSurplus Marketplace
Rhea-AI Summary
Liquidity Services (NASDAQ: LQDT) has been chosen by a major U.S. oil and gas exploration and production company to sell over 30 workover rigs and associated surplus assets in West Texas. The sale, featuring Cameron, Watson Corsair, Rig Works, and Franks rigs, is taking place through a sealed bid event on AllSurplus.com until September 12th, 2024, at 5:00 pm EDT.
This opportunity allows businesses in the oil and gas industry to acquire premium workover rigs at competitive prices. Buyers can bid on individual assets or the entire catalog. Liquidity Services' VP of business development, Darron Hanner, emphasized that their global market reach and competitive bidding platform will ensure these assets continue to operate, reducing new manufacturing needs and minimizing landfill waste.
Positive
- Partnership with a major U.S. oil and gas company for asset liquidation
- Sale of over 30 high-value workover rigs and associated assets
- Potential for maximum recovery on client's investment through competitive bidding
Negative
- None.
News Market Reaction – LQDT
On the day this news was published, LQDT gained 1.16%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The sale features over 30 workover rigs located in West Texas
BETHESDA, Md., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT), a leading global commerce company powering the circular economy, has been selected by one of the largest oil and gas exploration and production companies in the U.S. to sell more than 30 Cameron, Watson Corsair, Rig Works, and Franks workover rigs and associated surplus assets in West Texas. The rigs are available through a sealed bid event that runs until September 12th, 2024 at 5:00 pm EDT on AllSurplus.com, the leading online marketplace for surplus business assets.
“Liquidity Services’ extensive global market reach and competitive bidding platform will ensure these assets continue to operate, reducing the need for new manufacturing and minimizing landfill waste,” said Darron Hanner, vice president of business development at Liquidity Services. “Our client will benefit from our transparent processes and achieve maximum recovery on their investment.”
This sale presents a unique opportunity for businesses in the oil and gas industry to acquire premium workover rigs at competitive prices. Buyers can submit bids for individual assets or the entire catalog, and all bids will remain sealed until the event closes, after which they will be reviewed by the client.
To view and place a bid on the available equipment, please visit AllSurplus.com.
About AllSurplus
AllSurplus is the world’s leading online marketplace for surplus business assets, ranging from heavy equipment to transportation 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.
Contact:
Liquidity Services, Inc.
Public Relations
publicrelations@liquidityservices.com
FAQ
What types of rigs are being sold by Liquidity Services (LQDT) in the West Texas sale?
When does the sealed bid event for the workover rigs on AllSurplus.com end?
How many workover rigs is Liquidity Services (LQDT) selling in the West Texas event?
Can buyers bid on individual assets in the Liquidity Services (LQDT) workover rig sale?
