After closing its former El Reno command center last year in Oklahoma and laying off hundreds of workers, Halliburton sold the new operation only a few months ago. Now the company is planning to auction surplus real estate in five states and Canada.
Reports indicate Williams and Williams, a leader in global live and interactive real estate auctions will auction the surplus assets for Halliburton through live and onlive auction events Oct. 7-9. The auctions will feature industrial buildings and land.
Properties are located in Sandersville, MS; Belfield, ND; Edmonton, AB; and Sonora, Odessa and Brownfield in Texas; Artesia & Farmington in New Mexico; and Haynesville & Broussard in Louisiana.
The auction comes as Halliburton Company reported a net loss of $1.7 billion or $1.91 per diluted share for the second quarter of 2020. It compares to a net loss of $1 billion and $1.16 per share in the first quarter of the year.
Fontana Fitzwilson, Executive Vice President at Williams & Williams stated that buyers need to complete their due diligence before the auction as each property will be conveyed “where is, as is” with no contingencies given for inspections or financing.
Details are available by contacting Williams & Williams. Due diligence materials and sale documents are also available for review upon request. Public inspections will be offered in late August and September. All properties except Sandersville, MS, and Edmonton, AB, will be sold on site during a live auction, with simultaneous online bidding. Sandersville & Edmonton will be sold in an online only auction at AuctionNetwork.com from Oct 5-7.
Fitzwilson said high bidders will be required to make a non-refundable 10% down payment immediately after the auctions, and close in 30 days. More information about the properties is available at https://www.williamsauction.com/halliburton.