Network International End-of-Year Auction Jumpstarts IPAA Partnership.Bretagne LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , IPAA IPAA International Psychoanalytical Association. member, receives 45% premium for Drilling Rig sold through Online Auction HOUSTON -- Network International, the global marketplace for buying and selling energy equipment, surpassed $2.2 million in sales during its year-end auction December 13-15. This auction also kicked off Network's partnership with the Independent Petroleum Association of America (IPAA). The drilling rig, consigned by Bretagne LLC, received the highest web traffic over the 3-day auction. Bretagne, who is a member of the IPAA, was a first time consignor CONSIGNOR, contracts. One who makes a consignment to another. 2. When goods are consigned to be sold on commission, and the property remains in the consignor; or when goods have been consigned upon a credit, and the consignee has become a bankrupt or failed, and received an exclusive IPAA rate on their consignment fee thanks to the recently signed marketing agreement between the IPAA and Network. In addition, Network donated a portion of their commission back to the IPAA. Bretagne, who previously received one offer for $100,000 on their drilling rig, sold it in Network's auction for $145,000 after receiving 55 total bids. "As a business owner, it's comforting to know that I am receiving a fair market price on my equipment," said Gigi Lazenby, owner of Bretagne. "The fact that they donated a portion of proceeds from our sale back to a noteworthy organization like the IPAA is an added benefit." Boyd Heath, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Network International, states, "Completing the first sale under our new partnership with IPAA was an outstanding way to end 2006. As you can see, it was a true win - win - win outcome." The December auction offered 241 equipment lots for sale from 22 different consignors with equipment located in 22 states and Canada. During the auction those lots received 3,445 bids from 173 unique bidders representing 31 states, Canada and Venezuela. Top-selling lots included a drilling rig, casing and tubing, wellhead well·head n. 1. The source of a well or stream. 2. A principal source; a fountainhead. 3. The structure built over a well. wellhead Noun 1. , construction equipment, as well as compressor compressor, machine that decreases the volume of air or other gas by the application of pressure. Compressor types range from the simple hand pump and the piston-equipped compressor used to inflate tires to machines that use a rotating, bladed element to achieve packages. About Network International Network International, Inc. is the global marketplace for buying and selling energy equipment through online auctions in the oil & gas, petrochemical and power industries. The company is based in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the and provides its services around the world with over 10,000 registered buyers and sellers in more than 50 countries. Additional information is available at www.Networkintl.com. |
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