Rare Global Oil and Gas Equipment Auction in Houston Texas, September 25, 26

74 Drilling Rigs, 10 Service Rigs, 10 Coil Tubing Rigs, Pipe and Misc. Equipment

HOUSTON, Sept. 4, 2012 /CNW/ - Precision Drilling is pleased to announce the sale of its non-utilized oilfield services assets, including legacy drilling rigs, service rigs and ancillary equipment. Precision has partnered with Kruse Energy & Equipment, LLC, www.kruseenergy.com, to make this equipment available for sale via auction. The equipment being sold is of a wide variety of sizes, styles, new, used and locations across Canada and the U.S.A. "Kruse Energy and Equipment was chosen by Precision for this international event because of our four decade and 700 years combined experience as the leader in this field," said Jim Richie, co-founder and chief auctioneer of Kruse. "Competitive bidding is always the best way to sell equipment."

Kruse will hold the digital image auction in Houston, Texas at the Sheraton Intercontinental North Hotel on September 25 and 26, 2012. Starting time is 9:00 am both mornings. The equipment offered will include 74 drilling rigs varying in size from 1500HP to 350 HP, 10 coil tubing drilling rigs, 10 well service rigs, over 675,000 feet of used drill pipe, (5) five unit mobile man camps, 20 oilfield rig-up and pump trucks and a large assortment of powered draw-works, powered and un-powered triplex mud pumps (new, re-built and used), blowout preventers, engines and related rig components. The Day 1 auction will include rigs and equipment in Louisiana, Texas, Colorado and North Dakota along with drill pipe in these four states and in the Canadian Provinces of Saskatchewan, Alberta and British Columbia. Day 2 will include drilling rigs, work-over rigs and other equipment in Saskatchewan, Alberta and British Columbia.

"This auction will attract contractors needing complete drilling rigs or major components to upgrade their rigs," said Larry Mitchell with Kruse.

David Long, President of Kruse says, "The variety of equipment being offered will attract buyers from around the world. This is good for the oil and gas industry."

Kruse Energy and Equipment LLC is the world's largest auction firm specializing in the auction sale of oilfield related equipment. Kruse Energy has offices in Odessa, San Antonio, and Tyler, Texas, Oklahoma City and Tulsa, Oklahoma. For more info please visit www.kruseenergy.com.

SALE & EQUIPMENT: Larry Mitchell 903-237-8916 lmitchell@kruse.com
MEDIA CONTACT: Steve Braley 561-310-2555 sbraley@kruse.com

SOURCE: Kruse Energy and Equipment, LLC

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