A major offshore oil and gas driller capable of descending to depths of 10,000 feet and beyond reached out to Liquidity Services to partner with the company on disposition of specific assets. This included 2,575 joints of used surplus drill pipe and drill collars, all marked to sell in auction. The challenge in this project was the location of the material; the surplus pipe and drill collars were located in three different yards and offered without mill papers.
The expertise of the Liquidity Services team from years of client work with the top energy, oil, and drilling companies in the world helped to guide the client to:
The client was pleased to see the extended reach offered by Liquidity Services’ marketing and bidder activity and both teams benefited from the collaboration of knowledge on the project. Not only were pricing recovery levels achieved, but the client was able to see engagement from bidders beyond the circle of four or five local buyers that had historically purchased its surplus drill pipe.
Highlights from the sale included:
"Liquidity Services always provides excellent and professional services as well as intelligent advice on the sale of assets.”