Tiger Group and Liquidity Services reported that bidding is underway in the timed online auction of more than 300,000 feet of line pipe formerly owned by Fort Morgan, CO-based Catamount Oilfield Services.
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,” Chad Farrell, managing director at Tiger Commercial and Industrial, said. “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:
- More than 200,000 feet of casing in sizes ranging from 4-1/2” to 13-3/8” and grades from J-55 to Q-125
- More than 100,000 feet of tubing in sizes ranging from 2-3/8” to 2-7/8” and grades from J-55 to P-110
Bidding for this event will close on Oct. 27 at 3 p.m. MT and all bidders must register in advance. The inventory is available for inspection at the Colorado and Wyoming sites from 8 a.m. to 2 p.m. MT and in Texas from 8 a.m. to 2 p.m. CT.
Catamount Oilfield Services filed in the U.S. Bankruptcy Court in the District of Colorado.