High-Value Energy Equipment Assets for El Dorado Gas and Oil to be Sold by AllSurplus and Tiger Group
Rhea-AI Summary
Liquidity Services (NASDAQ: LQDT) and Tiger Group have announced the fifth auction in a series of court-ordered auctions related to the bankruptcy of El Dorado Gas & Oil. Over 230 energy assets located in Three Rivers, Texas are available until August 28, 2024 on AllSurplus.com. The auction includes high-value equipment such as sand kings, frac pumps, and nitrogen pumpers.
This sale is part of the ongoing bankruptcy liquidation of El Dorado Gas & Oil's estate assets, managed by Liquidity Services and Tiger Group since mid-July. The auction offers oil and gas operators and equipment dealers the opportunity to acquire a wide range of equipment at prices significantly below new. Available items include drilling rigs, fracking and gas processing equipment, pumps, compressors, and machine shop items.
Positive
- Liquidity Services is managing a high-value asset liquidation, potentially generating significant revenue
- The auction includes over 230 lots of energy equipment, indicating a large-scale operation
- No buyer's premium on available equipment, potentially attracting more bidders
Negative
- None.
News Market Reaction – LQDT
In the trading session that priced this news, LQDT gained 0.31%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The fifth in a series of court-ordered auctions, more than 230 lots of sand kings, frac pumps, nitrogen pumpers, and more are available until August 28
BETHESDA, Md., Aug. 23, 2024 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT), a leading global commerce company powering the circular economy and Tiger Group, a major asset valuation, advisory and disposition services provider, have announced the fifth auction in a series of court-ordered auctions related to the bankruptcy of national energy services firm El Dorado Gas & Oil (Bankruptcy Case No. 23-51715). More than 230 energy assets based in Three Rivers, Texas are currently available until August 28, 2024 on AllSurplus.com.
"The bankruptcy liquidation of El Dorado Gas & Oil's estate assets has been managed by Liquidity Services and Tiger Group since mid-July, and has proven to be a unique opportunity for oil and gas operators and equipment dealers to acquire a vast array of equipment at prices significantly below new," said Trey Valentino, account executive at Liquidity Services. "Available equipment from this sale includes drilling rigs and equipment, fracking and gas processing equipment, pumps, compressors, machine shop items and much more."
The auction contains a mix of high-value energy assets including a Siebert Heavy Haul Trailer, Frac Pump Skid, 2011 Hydra Rig Coiled Tubing Trailer, and more.
To view and bid on the available equipment, which have no buyer’s premium, or to schedule an in-person inspection, visit AllSurplus.com. For more about Tiger Group, visit TigerGroup.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.
About Tiger Group
Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and provide capital or convert assets to capital quickly and decisively. Tiger maintains offices in New York, Los Angeles, Boston, Chicago, Houston and Toronto.
Contact:
Liquidity Services, Inc.
Public Relations
publicrelations@liquidityservices.com
