Kruse Energy to conduct multi-million-dollar auction for BJ Services in Odessa, TX

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Nov 06, 2017, 12:00 ET

BJ Services selling coil tubing fleet with Kruse Energy on Nov. 15 – 16; 180+ assets up for bid

ODESSA, TX, Nov. 6, 2017 /PRNewswire/ - BJ Services is North America's largest pure-play pressure pumping services company. With an increased focus on its hydraulic fracturing and cementing services, the company has decided to close its U.S. coil tubing division, choosing to sell all its coil tubing assets in a Kruse Energy auction on November 15 – 16, 2017.

The two-day November auction, featuring more than 180 assets from BJ Services, will be held at MCM Eleganté Hotel in Odessa, TX. Equipment highlights include 24 drilling rigs, 15 coiled tubing units, 15 double pumpers, 35 nitrogen pump units, six boom truck cranes, 120+ trucks, as well as gas compressors, water and well service equipment, vacuum trucks and trailers, and more.

"BJ Services is one of the biggest names in the energy business and they have one of the best fleets," said David Long, President, Kruse Energy Auctioneers. "We are honored that BJ Services has chosen Kruse Energy to sell these assets. Together with Ritchie Bros., which acquired us as part of the IronPlanet transaction earlier this year, we are now able to reach thousands more potential bidders around the world. Companies in the coil tubing business will not want to miss this auction."

Specific equipment highlights:

An unused 2012 NOV Hydra Rig 680 coil tubing unit
15 Total NOV coiled tubing units
Six Peterbilt 367 Boom Crane Trucks Each w/ National NBT40 cranes
50+ Peterbilt 367 haul trucks (w/ low mileage)
2014 GEFCO DP2000 double fluid pumper
14 NOV double fluid pumpers
35 nitrogen pump units

"Our coiled tubing packages are capable of performing extensive fit-for-purpose solutions ranging from well cleanouts to enhanced conveyance support for well completions throughout the most active basins in North America," said Warren Zemlak, President & CEO of BJ Services. "The divestiture of our coil tubing assets will enable BJ Services to continue to deliver high reliability operations in our core pressure pumping business."

Equipment being sold in the November 15 & 16 auction is stored in seven different yards in Odessa; Midland, TX; Big Spring, TX; and Gillette, WY and will be sold virtually at the MCM Eleganté Hotel (5200 E University Blvd.) in Odessa. Inspections are available by request, for equipment in Odessa, Midland and Big Spring, contact Mitchell Long at 1.432.661.4414; for La Grange, contact Larry Mitchell at 1.903.237.8916 or George Rich at 1.409.790.9315; for Gillette, contact Doug King at 1.307.253.9012.

For more information about the auction, visit KruseEnergy.com.

About BJ Services:
Headquartered in Tomball, Texas, BJ Services is the largest North American-focused, pure-play pressure pumping services provider. BJ Services provides hydraulic fracturing and cementing services to leading upstream oil and gas companies engaged in the exploration and production of North American oil and natural gas resources. The company operates field locations serving all major North American oil and gas resource plays. For more information about BJ Services, please visit www.bjservices.com.

About Kruse Energy Auctioneers:
Kruse Energy Auctioneers is a Ritchie Bros. solution, focusing on energy equipment-related auctions. As a full-service travelling auction company, it brings its services to the assets to help sellers avoid transportation costs. Throughout its over 25-year history the company has conducted auctions across the United States and 31 other countries. Kruse Energy maintains offices in Texas and Oklahoma and conducts approximately 30 auctions each year. For more information, visit KruseEnergy.com

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; Marketplace^e, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat^®auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.