Online Bidding Now Underway for Large Inventory of Oil-and-Gas Line Pipe in Auction by Tiger Liquidity Services Energy Partners

Rhea-AI Summary

Bidding is currently open for over 300,000 feet of line pipe in a timed online auction hosted by Tiger Group and Liquidity Services (LQDT). This auction is part of their strategic partnership aimed at selling surplus oil-and-gas assets. The inventory includes over 200,000 feet of casing and more than 100,000 feet of tubing, available for inspection in Colorado, Wyoming, and Texas. Bidding ends at 3 p.m. MT on October 27. Given the uptick in oil prices, this presents a strong opportunity for companies to rebuild their inventories.

Positive

• Large inventory of over 300,000 feet of line pipe available for auction.
• Strategic partnership with Tiger Group enhances market presence.
• Increased oil prices may drive demand for inventory.

Negative

• Catamount Oilfield Services filed for bankruptcy, indicating potential issues in the industry.

NEW YORK, Oct. 21, 2021 /PRNewswire/ -- Bidding is underway in the timed online auction of more than 300,000 feet of line pipe formerly owned by Fort Morgan, Colorado-based Catamount Oilfield Services, announced Tiger Group and Liquidity Services (NASDAQ: LQDT).

The auction is the latest offering by the two companies, which in 2016 formed a strategic partnership—Tiger Liquidity Services Energy Partners—focused on directly assisting those seeking to sell surplus oil-and-gas assets.

"At a time when oil prices and demand are back on the upswing, this online auction represents a strong opportunity for companies to restock their inventories," said Chad Farrell, Managing Director, Tiger Commercial & Industrial. "In addition to the strong value inherent to a bankruptcy liquidation, the inventory in this sale has high utility, given the wide array of available sizes and grades."

Catamount's entire pipe inventory, housed at sites in Colorado, Wyoming and Texas, is available in the timed online auction. The inventory includes:

• More than 200,000 feet of casing in sizes ranging from 4-1/2" to 13-3/8" and grades from J-55 to Q-125
• More than 100,000 feet of tubing in sizes ranging from 2-3/8" to 2-7/8" and grades from J-55 to P-110

Catamount Oilfield Services, Inc. (COS) filed in the U.S. Bankruptcy Court in the District of Colorado. The company was known for offering a full line of API tubing, casing, and line pipe.

Bidding closes at 3 p.m. (MT) on Wed., Oct. 27. All bidders must register in advance at:
https://www.allsurplus.com/account/register

The inventory is available for inspection at the Colorado and Wyoming sites from 8 a.m. to 2 p.m. (MT) and in Texas from 8 a.m. to 2 p.m. (CT). For full details on the offering visit, https://www.allsurplus.com/events/23389

View original content:https://www.prnewswire.com/news-releases/online-bidding-now-underway-for-large-inventory-of-oil-and-gas-line-pipe-in-auction-by-tiger-liquidity-services-energy-partners-301405781.html

SOURCE Tiger Group

FAQ

What is the purpose of the ongoing auction by Liquidity Services (LQDT)?

The auction aims to sell over 300,000 feet of line pipe formerly owned by Catamount Oilfield Services.

When does bidding for the auction close?

Bidding closes at 3 p.m. MT on October 27.

What types of inventory are included in the auction by Liquidity Services (LQDT)?

The inventory includes over 200,000 feet of casing and more than 100,000 feet of tubing.

Why is this auction significant for companies in the oil and gas sector?

With rising oil prices, the auction offers a strong opportunity for companies to restock their inventories.

What led to the auction being held by Liquidity Services (LQDT)?

The auction is a result of the bankruptcy filing by Catamount Oilfield Services.