Abilene Auction Recap. Oil Equipment Auction Sheds Light on Industry
TYE, TEXAS – Those in the oil patch said that things are looking up. A machinery auction with oilfield equipment was held in Tye Tuesday. Leaders in the industry from around the state were there. Over $1.5 million was expected to be spent on the equipment. Industry leaders in the oil patch said they’re finishing the year strong.
Fox 15 was told rig counts continue to climb, creating an active market place.
General Manager Josue Irizarry said, “We’ve never really been in this area too much and we’ve had some customers to ask us to come to this area. So we came and tried it out and it actually did pretty good.”
Oil field equipment was auctioned off to the highest bidder. The equipment for sale included things like big trucks, trailers, and construction material. Prospects went truck to truck to choose their pick of the crop.
“I’d buy two or three if they were the right price. So far they’re selling pretty high,” said buyer Lloyd Whitehead.
Some were selling equipment to survive, while others were buying to replace old equipment.
‘Mom and pop’ companies and big corporations participated in the auction.
“You’ve got your everyday guy looking for a deal,” said Irizarry.
Those in the oilfield industry said the auction is a sign of promise.
“Everybody seems to feel that it’s going to kick up in the beginning of the year. So, we’re also hoping for the same thing. I mean it helps all of us,” Irizarry added.
(© 2017 KXVA)