The Odessa American (Odessa, Texas)
A live webcast auction for rigs and equipment owned by Sandia Drilling Co. Ltd and an affiliate has been scheduled for July 1, after a ruling from the U.S. Bankruptcy Court in Midland.
Bidders can attend the event, which begins at 10:30 a.m. July 1, in person at La Hacienda Event Center, 12600 Texas 191 Frontage in Midland. Items that will be offered at the live auction include four complete trailer-mounted drilling rigs, rolling stock, tubular and support equipment. Afterwards there will be a sealed bid offering of four complete substructure rigs from Sandia’s operations.
Sandia Drilling Co. Ltd, LLP and affiliate Sandia Drilling of Texas, LLC filed for Chapter 11 bankruptcy on May 15, 2013 in the Texas Eastern Bankruptcy Court. Tiger Group’s Remarketing Services Division, Auction Resolutions LLC and PPL Group LLC are handling the sale.
Previews of assets being offered will be at three locations. In Midland, a preview is scheduled between 8 a.m. and 5 p.m. on June 27 through June 30 at Yard No. 1, 12010 Highway 191. Others will be in Waksom and Pyote.
A website set up for the sale offers a full catalog of the items offered, yard locations for individual items and details on how to schedule a site visit and bid.
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