A leading downstream energy company was challenged to manage an efficient enterprise-wide scrap and surplus program. Each of its refineries had separate processes for handling scrap and surplus, a lack of consistency that limited program efficiencies and recovery.
The company aimed to implement a scrap process across its enterprise that would maximize surplus and scrap recovery, streamline its program, and ensure all scrap and surplus opportunities were capitalized on. Three years later and we've generated nearly $13 million for their scrap.
All energy companies face the challenge of managing surplus assets, from shop equipment to pressure pumping trailers. Before partnering with Liquidity Services, our client sold surplus assets through a traditional onsite auction method, which required shipment to an auction site and limited the client to only “absolute” and “no reserve” auctions.
Seeking choice in solutions and to increase recovery levels, mitigate risk, and reduce resources spent on asset management, the client engaged Liquidity Services to sell its surplus on the secondary market.
The Liquidity Services team of dedicated energy industry experts offer a strategic, consultative approach to help manage, evaluate, and sell your outdated energy equipment for maximum value.
Energy industry and asset category experts
Superior client service
Cutting-edge technologies
Global reach
Full suite of compliance services