NASDAQ-listed Liquidity Services helps N. Sea operators with valuation and sale of surplus assets via two of its online marketplaces – Network International and GoIndustry DoveBid – through which energy assets in more than 150 categories are sold to a global customer base of more than three million people.
“Due to the wide scale decommissioning of rigs in the North Sea region, coupled with lower commodity prices, energy companies are aggressively looking for solutions to generate cash,” said Daniel Beck, vice-president of global sales for Liquidity Services’ Capital Assets Group.
“With the addition of our Aberdeen office, we are now well-positioned to more effectively and efficiently help clients in the region value and sell their surplus oil and gas assets, recovering tangible value for their unwanted equipment.”
“This expansion also helps us continue growing our global network of buyers in the energy sector, connecting them to affordable used equipment that will help them continue meeting production demands.”
Meanwhile Ithaca Energy – which is being taken over by an Israeli energy company in a $1.2 billion bid recommended by its Aberdeen-based board – has started production from its Stella field in the N. Sea.
Production has been started from the field and oil export to the adjacent shuttle tanker has commenced. The production ramp-up phase will commence when the on-going commissioning of the gas processing and compression facilities is complete.