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Ready-to-Work Energy Drilling Equipment Valued at $25 Million to Go on the Auction Block
| Source: Great American Group
OKLAHOMA CITY, OK--(Marketwire - October 20, 2009) - More than $25 million worth of
refurbished, rebuilt and ready-to-work drilling rigs from the assets of Red
River Energy in Oklahoma and Colorado will go on the auction block starting
Tuesday, November 3, in Oklahoma City and on-line at www.greatamerican.com.
For the Auction Brochure/Offering Sheet, photos and more information on the
individual rigs and equipment, please visit
http://tinyurl.com/RedRiverEnergyAuction.
The auction, managed by the Great American Group, will start at 10 a.m.
(CST) at Redlands Community College Conference Center, 1300 S. Country Club
Road, El Reno, Oklahoma, just outside Oklahoma City. Inspections of the
equipment are available beginning Monday, October 26 from 9 a.m. until 4
p.m. (CST).
"This is the largest collection of energy drilling equipment we've ever
offered at auction," said Mark Weitz of the Great American Group. "The rigs
range in size from 600 to 1100 Horsepower. These rigs are a perfect fit for
the North American, Latin American, and Asian Markets. All of the equipment
has been refurbished and is ready to work for interested buyers."
Most of the equipment is located in Kingfisher, Oklahoma, with one 1100 HP
Cold weather rig in Rifle, Colorado. All rigs and large equipment come with
drill pipe and collars, tools, parts, miscellaneous rig components and
support equipment.
Photos and detailed descriptions of the rigs are available, as well as
early registration for the on-line auction. For information, visit
www.greatamerican.com.
For more than 35 years, Great American Group has partnered with businesses
across the globe in effectively appraising and divesting assets with one
main objective: to maximize value. Services include Retail, Machinery and
Industrial Assets, Wholesale Inventory, Appraisal and Valuation, Real
Estate, Intellectual Property Advisors and M&A Transactions.