NetworkOil completes equipment auction

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Houston--NetworkOil Inc. completed its first online oilfield equipment auction. The auction, which took place last week, involved 74 lots of equipment, 1,100-plus bidders and garnered almost $500,000 in sales. Equipment sold included a drilling rig, a gas plant, pumping units, unused subsurface equipment, tubing and casing. The equipment was located throughout the United States. One deal saw several ``blow-out preventers'' transfer from a seller in Prudehoe Bay, Alaska, to a buyer in Houston.
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