Bidding is underway in the timed online auction of more than 300,000 feet of line pipe formerly owned by Fort Morgan, Colorado-based Catamount Oilfield Services, announced Tiger Group and Liquidity Services (NASDAQ: LQDT ).
The auction is the latest offering by the two companies, which in 2016 formed a strategic partnership— Tiger Liquidity Services Energy Partners —focused on directly assisting those seeking to sell surplus oil-and-gas assets.
"At a time when oil prices and demand are back on the upswing, this online auction represents a strong opportunity for companies to restock their inventories," said Chad Farrell, Managing Director, Tiger Commercial & Industrial. "In addition to the strong value inherent to a bankruptcy liquidation, the inventory in this sale has high utility, given the wide array of available sizes and grades."
Catamount's entire pipe inventory, housed at sites in Colorado, Wyoming, and Texas, is available in the timed online auction. The inventory includes:
Catamount Oilfield Services, Inc. (COS) filed in the U.S. Bankruptcy Court in the District of Colorado. The company was known for offering a full line of API tubing, casing, and line pipe.
Source: Tiger Group
Date: Oct 21, 2021
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