Court-ordered sales by Tiger Group and
Liquidity Services will feature more than 10,000 items,
including drilling and frac equipment, rolling stock,
industrial machinery, and more; first two auctions close
July 17 and July 25
JACKSON,
Miss., July 9, 2024 /PRNewswire/ -- Tiger Group
and Liquidity Services today 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."
For asset photos, descriptions, and other information,
visit:
Sale No. 1. (July 17, Jackson)
https://soldtiger.com/sales/el-dorado-jackson-mississippi-metal-fabrication-rolling-stock-and-more/
Sale No. 2 (July 25,
Gulfport)
https://soldtiger.com/sales/el-dorado-gas-and-oil-material-handling-metal-working-lab-testing-equipment-and-more-gulfport-ms/
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.
https://tigergroup.com/
About Liquidity Services
Liquidity Services operates
the world's largest B2B e-commerce marketplace platform for surplus
assets with over $10 billion in
completed transactions to more than five million qualified buyers
and 15,000 corporate and government sellers worldwide. The company
supports its clients' sustainability efforts by helping them extend
the life of assets, prevent unnecessary waste and carbon emissions,
and reduce the number of products headed to
landfills. https://liquidityservices.com/
Media Contacts: At Tiger Group, Maria Hoang, (805) 497-4999,
380082@email4pr.com. At Jaffe Communications, Elisa Krantz, (908) 789-0700,
380082@email4pr.com
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SOURCE Tiger Group