Assets of major oil drilling contractor in Pennsylvania to be sold via public auction

INDIANA, PA--(Marketwired - September 19, 2017) - After filing for Chapter 11 Bankruptcy, Northeast Energy Management Inc., a Pennsylvania-based oilfield drilling contractor, will have its assets sold via public auction. PPL Auction Group, an industrial auction firm, is preparing to liquidate more than 400 pieces of equipment belonging to the drilling contractor. The public sale is being conducted on September 27th by order of Bankruptcy Court. The sale can be viewed online on Aucto.com -- where interested bidders can participate in the auction.

In January 2017, Northeast Energy Management, Inc. voluntarily filed for Chapter 11 bankruptcy. The oil drilling contractor, headquartered in Indiana, PA, was originally founded in 1987 and specialized in drill site preparation and reclamation services. PPL Auction Group, in conjunction with Gordon Brothers, has been contracted to conduct the auction, with approval from the Trustee. PPL Auction Group is an established industrial auction firm boasting a wide range of clients from varying industries.

Parties interested in bidding in the auction can register and bid online on Aucto.com. Beginning on Tuesday Sept. 27th at 10 a.m. EST. Aucto.com will broadcast the auction on its web platform, which will enable web bidders to view a live video stream of the event and place their bids online. The live webcast auction will complement the onsite theater-style auction, allowing users to remotely bid from around the world.

Items available in this auction range from oil and gas equipment -- such as drill rigs, boosters, generators and accumulators -- to construction and heavy equipment, such as boring machines, as well as pick-up trucks and consumables. High-value items include:

• 2008 Schramm Trailer Mounted Drill Rig Model T200XD
• 2006 International Olympian Series 1300 Power Unit Generator Model D200P3
• 2012 Kenworth T800 Tri-Axle Winch Truck
• 2014 Ford F-150 FX4 4x4 Pick-up Truck
• Case 1845 Skid Steer Loader

Please visit Aucto.com to view the online catalog.

About Aucto.com

Aucto connects industrial equipment buyers and sellers on an easy-to-use, secure and global platform. For sellers, Aucto provides a marketplace to recover capital from surplus and used industrial equipment. The site features both online and onsite webcast auctions, allowing bidders to participate in industrial auctions being conducted across the globe.

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