​Ritchie Bros. sells $75 million of equipment in Edmonton auction as operators look toward winter drilling

Image: Ritchie Bros.

The auctioneers at Ritchie Bros. say that oil and gas service companies in Alberta are starting to prepare for this winter’s drilling season.

The company sold more than $75 million in equipment over a three-day auction in Edmonton last week, primarily to Canadian bidders buying online.

"As activity levels start to pick up in the oil and gas sector owners are beginning to loosen inventories as their equipment needs are increasing and they look to upgrade," Ritchie Bros. sales director Trent Vandenberghe said in a statement.

"We saw solid returns for our consignors this week across most categories as optimism and work outlook continue to rise. September auctions in Alberta are typically the kick off to winter work programs and we are seeing increased activity throughout our customer base here in western Canada."

The equipment included compactors, excavators, dozers, skid steers, dump trucks, loaders, cranes and more.

Approximately 62 percent of the equipment was sold to online bidders, Ritchie Bros. says. Canadian buyers purchased 89 percent of the equipment, with bidders from Alberta (57%), British Columbia (13%), and Saskatchewan (9%) being the biggest Canadian buyers. International buyers from such countries as the United Kingdom, Singapore, and New Zealand purchased 11 percent, the company says.