Tiger Group and Liquidity Services announced plans to hold a series of court-ordered online auctions related to the bankruptcy of national energy services firm El Dorado Oil & Gas, Inc. (Bankruptcy Case No. 23-51715).
The first two auctions in the series close on July 17 and July 25, respectively.
Gulfport-based El Dorado filed for Chapter 11 this past December in the U.S. Bankruptcy Court for the Southern District of Mississippi. It held a diverse array of equipment at 37 locations, primarily in Mississippi and Texas, but also in Alabama, Louisiana, Nevada, North Dakota, Ohio, Oklahoma, Tennessee, Virginia, Wyoming, and other locations.
Tiger and Liquidity Services will be auctioning assets from all of these locations in the weeks ahead and, as an added bonus for buyers, there will be no buyer’s premium on any of the auction sales, noted Chad Farrell, Managing Director, Tiger Commercial & Industrial.
“There is machinery and equipment that one would expect to find from an upstream oil-and-gas services company—things like trucks, trailers, workover rigs, frac pumps, blenders, tanks, drilling equipment, coil-tubing units and gas compressors,” Farrell said. “But over the years, the owner also had acquired warehouses full of more general-purpose items and inventory. It’s a massive, diverse collection that offers something for just about everyone.”
Sale No. 1 in the series closes on Wednesday, July 17, at 10 a.m. (CT). Bidding opens on Wednesday, July 10, at 10 a.m. (CT) at SoldTiger.com.
Sale No. 2 closes on Thursday, July 25, at 10 a.m. (CT). Bidding opens on Thursday, July 18, at 10 a.m. (CT) at SoldTiger.com.
With more than 710 available lots, Sale No. 1 on July 17th features assets from El Dorado locations in Jackson, Mississippi; Ontario, Canada; and Collierville, Tennessee. The list includes metal-fabricating, material-handling, processing and plant-support equipment, along with rolling stock and inventory. “There are items such as CNC machining centers and milling machines, ABB 6-axis Robots with Fanuc Controls, air compressors, generators, electric motors, stainless-steel tanks, and vehicles like trailers, pickup trucks and a minivan, just to name a few,” said Wayne Hecht, Senior Director of Operations at Tiger Commercial & Industrial.
Sale No. 2 on July 25 features assets from El Dorado locations in Gulfport, Mississippi. “It’s 350 lots of equipment used for material-handling, woodworking, metal-fabrication, labs and testing and plant-support,” Hecht noted. “The rolling stock includes tractors, trailers, buses, box trucks, vans, pickups, sedans and more.”
Added Farrell, “Bidders should stay tuned to the SoldTiger.com and AllSurplus.com sites as we will be adding additional sale events in the weeks ahead including the auction of a fleet of gas compressors recently slated for July 30.”