Directional drilling, solids control and surface rental equipment up for immediate sale

Source: Tiger Liquidity Service Energy Partners

Tiger Liquidity Services Energy Partners (TLSEP), a strategic alliance between Tiger Group and Liquidity Services, Inc., will conduct an online auction on December 13 for assets that are no longer needed for the continuing operations of Aly Energy Services, Inc., a Houston-based oilfield manufacturing, rental and services company.

 

HOUSTON, TX – Tiger Liquidity Services Energy Partners (TLSEP), a strategic alliance between Tiger Group and Liquidity Services, Inc., will conduct an online auction on December 13 for assets that are no longer needed for the continuing operations of Aly Energy Services, Inc., a Houston-based oilfield manufacturing, rental and services company. The assets, which support oil and gas exploration, are located in strategic basins in Odessa/San Angelo, TX; Oklahoma City, OK; and Montrose and Mount Morris, PA.

The sale is the latest project for the alliance between Tiger Group and Liquidity Services (NASDAQ:LQDT), which was formed in January 2016 to help insolvency and turnaround professionals ramp up their services to the turbulent oil and gas market, and to directly assist companies seeking to sell surplus assets.

Available assets include operational and idle measurement-while-drilling (MWD) equipment, directional and solids control equipment, and a variety of surface equipment that includes tanks, centrifuges, transfer pumps and more.

Online bidding for the assets, which are available for a negotiated sale to qualified companies prior to the auction, will commence December 7 at www.networkintl.com, Liquidity Services’ marketplace for idle and used energy equipment in the oil and gas industry, and www.SoldTiger.com. The auction will close in rapid succession, live auction style, on December 13. Previews of the assets will be held by appointment only at the equipment locations.

“Energy service companies that provide solids control, MWD and surface rental equipment will be interested in the assets up for bid,” said Jeff Tanenbaum, president of Tiger Group’s Commercial & Industrial Division. “A fleet of 400 and 500-barrel mud circulating tanks, mud mix plants, centrifuges and pumps – as well as complete MWD kits – would benefit a company preparing for the upturn in activity.”

“This auction offers companies the opportunity to acquire and consolidate a range of both equipment and components that are necessary to service operators in the field,” added Brooks Graul, vice president of business development for Liquidity Services. “Service companies will see value in adding core assets to their fleet in the basins that are active.”

Directional drilling assets up for bid include five MWD kits from Tolteq with pulser, directional and gamma modules, and surface monitoring systems. The kits, which are located in Houston, recently underwent maintenance to make them field-ready. Repair shop and office equipment are also available in Houston, making this a turnkey sale opportunity.

Solids control equipment for sale includes United Oilfield SS800, SS1000, and SS2000 drilling centrifuges with rotating assemblies. Available surface rental equipment includes mud plants, 500Bbl and 400Bbl mud circulating tanks, centrifugal mud pumps, transfer pumps, mud and flare crossovers, and more.

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