Online Marketplace AllSurplus Partners with Tiger Group to Sell Energy Equipment Assets for El Dorado Gas and Oil
Rhea-AI Summary
Liquidity Services (NASDAQ: LQDT) has partnered with Tiger Group to sell over 300 energy equipment assets from El Dorado Gas & Oil's bankruptcy liquidation. The online auction, running until August 13, 2024, features high-value items like frac pumps, trucks, and trailers located in Texas. Available on AllSurplus.com, the sale offers oilfield and well services companies a chance to enhance their fleets with no buyer's premium.
Nick Taylor, Liquidity Services' senior VP, highlighted the auction's strong value proposition due to the bankruptcy liquidation and the high utility of the wide array of equipment. Key items include a SPN Trailer Mounted Pump, a 2018 Bar H Welding Sand Separator Trailer, and a 2017 Wier SPM Frac Pump Trailer.
Positive
- Partnership with Tiger Group expands LQDT's reach in energy asset liquidation
- No buyer's premium on auction items, potentially attracting more bidders
- High-value energy assets available, including recent models (2017-2018)
Negative
- None.
News Market Reaction
On the day this news was published, LQDT declined 4.85%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
More than 300 lots of frac pumps, trucks, tanker trailers, sand kings, and more are available until August 13
BETHESDA, Md., Aug. 05, 2024 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ: LQDT), a leading global commerce company powering the circular economy, has partnered with Tiger Group, a major asset valuation, advisory and disposition services provider, to sell energy equipment and related assets on behalf of national energy services firm El Dorado Gas & Oil, Inc as part of a series of court-ordered online auctions related to the organization’s bankruptcy (Bankruptcy Case No. 23-51715). More than 300 energy assets based in Alice, Texas and Tilden, Texas are currently available until August 13, 2024 on AllSurplus.com.
"This online auction represents a strong opportunity for oilfield and well services companies to enhance their oilfield pumping, fracking, and tractor fleets," said Nick Taylor, Liquidity Services senior vice president and managing director, Capital Assets Group. "In addition to the strong value inherent to a bankruptcy liquidation, the equipment in this sale has high utility, given the wide array of oilfield equipment available in this auction."
The auction contains a mix of high-value energy assets including a SPN Trailer Mounted Pump, a 2018 Bar H Welding Sand Separator Trailer, a 2017 Wier SPM Frac Pump Trailer, and more.
To view and bid on the available equipment, which have no buyer’s premium, 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
FAQ
When does the Liquidity Services (LQDT) auction for El Dorado Gas & Oil assets end?
How many energy equipment assets are available in the LQDT auction?
Where are the auctioned assets from El Dorado Gas & Oil located?
What types of energy equipment are being sold in the LQDT auction?
