Kruse Energy and Equipment Auctioneers Hosts 3 Historic Auctions For More Than 125 Well Service & Drilling Rigs

The U.S. oil and gas industry’s largest auction firm is hosting an unprecedented series of auctions in three cities over 15 days, featuring more than 125 well service and drilling rigs, including some three dozen late-model rigs.

Kruse Energy and Equipment Auctioneers, LLC is leading off with a major three-day auction in Oklahoma City, OK featuring more than 60 well service rigs and eight drilling rigs, trucks and energy-related equipment on September 21, 22 and 23. This will be followed by an offering of more than 40 quality portable drilling/workover rigs and components in Denver, CO on September 29. Kruse Energy and Equipment Auctioneers will conclude this historic offering on October 5 and 6 in Odessa, TX with a wide selection of well service rigs, drilling components, trucks and trailers.

“This is an unprecedented sale of late-model drilling and well service rigs,” said David Long, co-founder of Kruse Energy and Equipment Auctioneers, LLC. “Because of the strong demand for energy and the strength of the industry, companies are upgrading equipment. Companies are now choosing competitive bidding through auctions to get the top dollar for their assets.”

Kruse Energy will be selling more than 40 rigs that are 2006, 2007, 2008 and 2009 models.

“It is extremely rare to have so many late model rigs available,” said Long. “With a rig offering such as this, I will not be surprised to have large investor groups from around the world at these auctions to take advantage of this rare opportunity.”

“This is good for the U.S. oil and gas industry,” said Kruse Energy chief auctioneer Jim Richie. “These sales mean companies are upgrading and due to the strong demand for energy, more rigs will be going to work in the U.S.”

“This is a very exciting happening and it will bring qualified bidders from all over the world,” added Richie. “This is a historic offering.”

Kruse Energy, which has conducted 90 percent of the industry auctions over the last 25 years, operates in all 50 states, Canada and 31 foreign countries with offices in Odessa TX, Tulsa, OK, San Antonio, TX, Oklahoma City, OK and Tyler, TX.

Kruse Energy is a full-service auction company and has the ability to bring auction events to the asset to avoid expensive moves. Auctions have become the method of choice to maximize prices for sellers and they allow sellers to get to the marketplace quicker than other private and negotiated sales methods, according to Long.

The company is diversified in many areas of auctions such as real estate, construction equipment, automotive and transportation, collectables and fine assets. Kruse Energy and Equipment Auctioneers conducts approximately 30 auctions around the U.S. each year.

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