Sale Under Way On Well Stimulation Company’s Assets
— Tiger Liquidity Services Energy Partners and Century Services Corp. selling late-model, low-hour pressure pump and fracking fleet assets formerly owned by Millennium Stimulation Services
MEDICINE HAT, ALBERTA, Canada (6/29/16)— Tiger Liquidity Services Energy Partners (TLSEP), in cooperation with Century Services Corp., has been retained by court appointed receiver KPMG to sell late-model, low-hour pressure pump and fracking fleet assets formerly owned by Millennium Stimulation Services.
The sale is the latest project for the partnership between Tiger Capital Group and Liquidity Services (NASDAQ: LQDT), which was formed in January 2016 to help insolvency and turnaround professionals ramp up their services to the turbulent oil and gas market, and to directly assist companies seeking to sell surplus assets.
Assets currently available for sale from Medicine Hat-based Millennium – which provided pressure pumping, well stimulation and hydraulic fracturing services – include a well stimulation and coil tubing fleet consisting of more than 100 units, including a 2014 NOV HydraRig masted coil tubing unit, pumper, blender and hydration trailers, chemical vans, and sand delivery units. The pressure pumping fleet includes six quintiplex fracturing pump trailers: four 2013 Charlton & Hill MFP-1701 units, and two from 2014 manufactured by Stewart & Stevenson.
Rolling stock offered includes more than 20 Kenworth T800 T/A truck tractors – none older than 2013, with some as new as 2015 – and 2014 Kenworth T800 Tri/A Crane Trucks. An assortment of four-wheel drive crew cab pickup trucks includes five 2014 Dodge Ram 3500 Laramies, two 2014 Dodge Ram 1500 Laramies, two 2014 Dodge Ram 3500 SLT LWBs, and a 2014 Dodge Ram 2500 Laramie mega cab. A Manitou MH25-4T K-Series 5,500-lb capacity diesel forklift is also available.
“This asset sale represents a unique opportunity for pressure pumping, well stimulation or hydraulic fracturing equipment rental companies or servicing companies to acquire top-of-the-line equipment in exceptional condition at attractive prices,” said Dan Beck, vice president of global sales for Liquidity Services. “These assets are ready to be placed into operation at any site in North America or internationally.”
Jeff Tanenbaum, president of Tiger’s Commercial & Industrial division, noted that the pressure pumping assets have already attracted offers from service companies in North America that want to add specific components to their fleets.
“The market knew the coiled tubing unit, twin pumpers and frac trailers were coming up for sale,” added James Carlson, senior appraiser and auctioneer with Century Services in Canada. “We have firm commitments from multiple parties who want individual units or packages. There is clearly a strong appetite for the frac and nitrogen pumpers, coiled tubing unit and crane trucks. The process is moving faster than expected and the offers are competitive.”
For a full catalog of the items offered, go to: www.SoldTiger.com.