---
title: Oilfield Services Operator Utilizes Liquidity Services to Sell Rig at Higher Value
description: A leading oilfield services company had acquired a company and obtained a specialized oil rig through the acquisition, which generated a large monthly expenditure for storage and maintenance, as well as employment for the crew.  Top management chose to sell the rig and conducted a sales and marketing effort for the next nine months to try to procure a buyer. Unfortunately, the deadline to sell the rig was shortly closing in and its best prospect felt the rig was too specific for its needs.
---

# Oilfield Services Operator Utilizes Liquidity Services to Sell Rig at Higher Value

![en_0119_slider](https://liquidityservices.com/hs-fs/hubfs/Imported%20images/en_0119_slider.jpg?width=1400&height=500&name=en_0119_slider.jpg)

Industry

Energy

Challenge

Top management chose to sell the rig and conducted a sales and marketing effort for the next nine months to try to procure a buyer. Unfortunately, the deadline to sell the rig was shortly closing in and its best prospect felt the rig was too specific for its needs.

Results

The campaign successfully generated interest in the asset and Liquidity Services received four sealed bid offers by its deadline and was able to accept the highest bid.

$1.9M

revenue recovered

26

higher sale value over estimate

Met

aggressive timeline

## The Challenge

A leading oilfield services company had acquired a company and obtained a specialized oil rig through the acquisition, which generated a large monthly expenditure for storage and maintenance, as well as employment for the crew.  Top management chose to sell the rig and conducted a sales and marketing effort for the next nine months to try to procure a buyer. Unfortunately, the deadline to sell the rig was shortly closing in and its best prospect felt the rig was too specific for its needs.

## The Solution

Upon a recommendation from the prospective buyer, the oilfield services company tapped Liquidity Services. From the time the contract was signed, Liquidity Services had a three-week timeframe to not only identify a qualified buyer, but to complete the sale and collect payment. The company also reserved the right to deny any bid it felt was too low for the rig.

Liquidity Services conducted a comprehensive campaign that included focused sales and marketing tactics, with targeted media placements and communication with its sales database of buyers it felt would be most interested in the rig.

## The Results

The campaign successfully generated interest in the asset and Liquidity Services received four sealed bid offers by its deadline and was able to accept the highest bid. The final offer netted the oilfield services company $1.9 million, a 26% higher value than the highest offer it had received prior to Liquidity Services’ partnership. The buyer also negotiated an extension of employment for the crew of the rig. Liquidity Services was able to market, sell, and collect payment on the sealed bid of the rig within the three-week timeframe, meeting the seller’s disposition deadline and providing an asset that could be put to work right away to the buyer.

## Related case studies

[![](https://liquidityservices.com/hs-fs/hubfs/Imported%20images/Untitled-design-77.png?width=2880&height=2880&name=Untitled-design-77.png)

Energy

### Liquidity Services Clears Critical Expansion Area While Recovering Over $5.7M

](https://liquidityservices.com/case-studies/liquidity-services-clears-critical-expansion-area-while-recovering-over-5-7m?hsLang=en) [![](https://liquidityservices.com/hs-fs/hubfs/Imported%20images/Untitled-design-99.png?width=1400&height=1400&name=Untitled-design-99.png)

Energy

### Liquidity Services Transforms Surplus Offshore Drilling Equipment Into Working Capital

](https://liquidityservices.com/case-studies/liquidity-services-transforms-surplus-offshore-drilling-equipment-into-working-capital?hsLang=en) [![](https://liquidityservices.com/hs-fs/hubfs/Untitled-2-Feb-11-2025-06-55-45-1798-PM.jpg?width=1920&height=1920&name=Untitled-2-Feb-11-2025-06-55-45-1798-PM.jpg)

Energy

### Partnership Allows Multinational Energy Client to Optimize Profitability While Focusing on Its Core Business

](https://liquidityservices.com/case-studies/partnership-allows-multinational-energy-client-to-optimize-profitability-while-focusing-on-its-core-business?hsLang=en)

```json
{
  "@context" : "https://schema.org",
  "@id" : "https://liquidityservices.com/#organization",
  "@type" : "Organization",
  "address" : {
    "@type" : "PostalAddress",
    "addressCountry" : "US",
    "addressLocality" : "Bethesda",
    "addressRegion" : "MD",
    "postalCode" : "20814",
    "streetAddress" : "6931 Arlington Road Suite 460"
  },
  "alternateName" : "Liquidity Services",
  "areaServed" : "Worldwide",
  "contactPoint" : {
    "@type" : "ContactPoint",
    "areaServed" : "Worldwide",
    "availableLanguage" : [ "English" ],
    "contactType" : "customer service",
    "email" : "Info@LiquidityServices.com",
    "telephone" : "+1-800-310-4604"
  },
  "foundingDate" : "1999",
  "knowsAbout" : [ "Circular economy marketplace", "Surplus asset management", "Surplus asset disposition", "Asset recovery", "Reverse logistics", "Reverse supply chain", "Retail returns management", "Inventory liquidation", "B2B ecommerce marketplaces", "Government surplus sales", "Industrial equipment remarketing", "Fleet and vehicle asset sales", "Heavy equipment sales", "Biopharmaceutical equipment sales", "Energy equipment sales", "Real estate auctions", "Secondary market sales", "Supply chain value recovery", "Sustainability", "Zero-waste initiatives" ],
  "logo" : {
    "@id" : "https://liquidityservices.com/#logo",
    "@type" : "ImageObject",
    "contentUrl" : "https://liquidityservices.com/hs-fs/hubfs/LiquidityServices_December2024/images/logo@2x.webp?width=642&height=362&name=logo@2x.webp",
    "url" : "https://liquidityservices.com/hs-fs/hubfs/LiquidityServices_December2024/images/logo@2x.webp?width=642&height=362&name=logo@2x.webp"
  },
  "name" : "Liquidity Services, Inc.",
  "numberOfEmployees" : {
    "@type" : "QuantitativeValue",
    "maxValue" : 999,
    "minValue" : 500
  },
  "sameAs" : [ "https://www.linkedin.com/company/liquidity-services-inc", "https://www.facebook.com/LiquidityServices", "https://twitter.com/LiquidityServices" ],
  "subOrganization" : [ {
    "@type" : "Organization",
    "name" : "GovDeals",
    "url" : "https://www.govdeals.com"
  }, {
    "@type" : "Organization",
    "name" : "GovDeals Canada",
    "url" : "https://www.govdeals.ca"
  }, {
    "@type" : "Organization",
    "name" : "AllSurplus",
    "url" : "https://www.allsurplus.com"
  }, {
    "@type" : "Organization",
    "name" : "AllSurplus Deals",
    "url" : "https://deals.allsurplus.com"
  }, {
    "@type" : "Organization",
    "name" : "Bid4Assets",
    "url" : "https://www.bid4assets.com"
  }, {
    "@type" : "Organization",
    "name" : "Sierra Auction",
    "url" : "https://sierraauction.com"
  }, {
    "@type" : "Organization",
    "name" : "Secondipity",
    "url" : "https://secondipity.com"
  }, {
    "@type" : "Organization",
    "name" : "Liquidation.com",
    "url" : "https://www.liquidation.com"
  }, {
    "@type" : "Organization",
    "name" : "Auction.io",
    "url" : "https://auction.io"
  }, {
    "@type" : "Organization",
    "name" : "Machinio",
    "url" : "https://www.machinio.com"
  }, {
    "@type" : "Organization",
    "name" : "Retail Rush",
    "url" : "https://www.retailrush.com"
  } ],
  "tickerSymbol" : "NASDAQ:LQDT",
  "url" : "https://liquidityservices.com/"
}
```

```json
{
  "@context" : "https://schema.org",
  "@id" : "https://liquidityservices.com/#website",
  "@type" : "WebSite",
  "inLanguage" : "en-US",
  "name" : "Liquidity Services",
  "publisher" : {
    "@id" : "https://liquidityservices.com/#organization"
  },
  "url" : "https://liquidityservices.com/"
}
```