Coming up next week on May 11-12, 2016. A huge two-day onsite Kruse Energy and Equipment Auction, hosted in Odessa,Texas. Look for a great selection of drilling rigs, well service rigs, frac pumps, drilling components, vacuum trucks, vacuum/kill trailers, heavy haul trucks/trailers and construction equipment! Bid online or onsite. Click HERE for directions and details. Registration begins Thursday, May 5, 2016 at Kruse Energy’s Odessa Yard.

Frac Equipment Drives Kruse’s One-Day Record

ODESSA,TX. – March 23, 2016 – Kruse Energy^SM, an IronPlanet^® marketplace, today announced a one-day record at its Midland, Texas, auction that drove the company’s gross merchandise volume (GMV) sold to surpass $1.0 billion since mid-2005, when the company was formed. The first day of the auction, February 17, was a one-day company record, selling more than $25.8 million primarily in frac equipment. Major frac companies were among the many buyers driving strong demand.

This week in interesting industry headlines: 

Wisconsin's Century-Old Model of Forestry Comes Under Pressure [Milwaukee Journal Sentinel]
"For more than a century, family-supporting jobs have grown on trees in Wisconsin.

Not a smattering of jobs, but the most private-sector jobs the state has ever known: jobs in logging, lumber, furniture making, pulping, papermaking and the printing presses for the nation's books, magazines and catalogs. If employment linked to forest products represented a single sector, Wisconsin would have the largest in the nation.” Read more

This week's featured auction includes an exciting package from Alpha Oil & Gas, sold out of North Dakota (with a few pieces from Minnesota). The company builds and maintains pipelines in the Northern Plains region, and has 170 items in great condition for sale in Thursday's auction. With 21 excavators, 13 flatbed trucks, 10 pipelayers and more, it's a can't-miss sale. Items are all available now for you to read inspection reports and place advance bids. 

Some of the most interesting items from the sale, available to bid on now: 

2012 Tesmec TRS1075 Bucket Wheeled Trencher
Item #653408, 3,713 Hours. Ride-On, Enclosed Cab, Elevating Cab, Air Conditioner, Heater, Discharge Conveyor, 30" Track Shoes. See more

This week in interesting industry headlines: 

Economy in U.S. Expanded Modestly Since Mid-August, Fed Says [Bloomberg Business]

"The U.S. economy grew modestly with little inflation pressure from mid-August to early October as a strong dollar weighed on manufacturing and tourism, a Federal Reserve report showed." Read more

Oil fall means 'almost everything' for sale as deals accelerate [Sydney Morning Herald]

"More than $US200 billion ($277 billion) worth of oil and natural gas assets are for sale globally as companies come under renewed financial pressure from the prolonged commodity price rout, according to IHS Inc." Read more

Bats are worth $3.7bn to US agriculture [The Guardian]

"University of California, Davis researcher Katherine Ingram has been running a study for the past two years in an attempt to put a monetary number on what she calls the “ecosystem services” provided by bats. That includes not only pest control for a wide variety of crops, including corn, cotton, various nuts, and rice, but also pollination for some 300 fruit varieties." See more

This week in interesting industry headlines: 

Interesting industry headlines from this week: 

Caterpillar CEO: Economy not pushing Fed to hike [CNBC.com]

"If the Federal Reserve were to increase interest rates by a quarter of a percentage point Thursday, the worst-case-scenarios won't materialize, said the leaders of two U.S. companies with a combined stock market value of about $124 billion." Read more

Powerful environmental group sues Mass. over gas pipeline [BostonGlobe.com]

"The environmental group sued the state utility regulator for approving three contracts to buy natural gas on a pipeline planned by Kinder Morgan. The CLF said the pipeline would bring in more gas than the state needs." Read more

UK's mining industry is revived -- by Australians [The Independent] 

"Ask people about British mining and many are likely to imagine striking coal miners on picket lines, shouting anti-Thatcher slogans and clashing with police. It is a measure of the industry’s inertia in this country that it this remains the lasting image a good 30 years on – for some, the scars have still not fully healed. But Wolf Minerals, a little-known Australian company which is listed on London’s Alternative Investment Market, is preparing to inject life into the UK’s dormant mining industry." Read more

In need of oilfield equipment? Kruse Energy's live and online auctions are a great way to get quality equipment at good prices-- and you won't have to wait long for your chance to bid, with another auction coming up this week. Kruse's September 16 sale, in Duncan, Okla., features over 1,300 oilfield-quality tri-cone drill bits, from 26" to 2-7/8", TCIs and milltooths, both sealed and open bearing, including 169 unused bits and 111 PDC bits. Browse the catalog online now, and be sure to register to bid early. 

(Photo: From left to right, the ringmen of Kruse Energy: Kenny Garman, Jim Richie, Dylan Hall, Frank McGrade, Marty Hill)

Kenny Garman, one of Kruse Energy’s ringmen and a big believer in the time-honored live auction tradition, knows exactly what he’s looking for when he scans a room full of buyers.

“When they lean forward. They’re all sitting in chairs behind rows and rows of tables, their books are open, they’re talking to their neighbors. But when you see someone stop talking to his friend, look at his book, and lean forward to look at the picture of the item up for purchase, you know they’re going to get in,” he says. “It’s all about body language.”

A ringman’s job is to be among the buyers, spotting bids and communicating these bids with the auctioneer. The job is challenging, fast-paced, and a genuine joy for those ringmen who love the interaction. Beyond spotting bids, they’re also informally tasked with monitoring the energy of the room and hope prices continue to rise in the market place. Down in what Kenny calls “the trenches,” he simultaneously tries to get bidders a good deal while helping sellers maximize their profits.

“It’s all split-second decisions, and everything happens really fast. You’ve got to really read the bidder,” Kenny says. “You’re talking to the bidders, pressing the flesh. You’re in there figuring out their emotions and thoughts, trying to convince them why they should be bidding.

IronPlanet, the leading online marketplace for used heavy equipment and trucks, and Finning International Inc. (TSX:FTT), the largest Cat^® dealer in the world, today announced that Finning has agreed to jointly market used heavy equipment through Cat Auction Services, IronPlanet’s unreserved auction marketplace. Finning will be hosting IronPlanet’s first Canadian Cat Auction Services live unreserved public auction on Wednesday, October 21, 2015, in Edmonton, Alberta.