Fuelled announces agreement with a major energy producer to sell surplus oil and gas equipment
Calgary-based energy marketplace also announces new Fuelled Certified screening program
CALGARY, April 10, 2018 /CNW/ - Today, Fuelled, Canada's largest energy equipment marketplace, announced agreements with Encana and Obsidian Energy to act as the primary sales agent for each organization's surplus oil and gas equipment. These agreements will allow Encana and Obsidian Energy to sell their surplus equipment globally, with an ease and efficiency of an ecommerce model. Fuelled, which currently has in excess of $100 million in equipment holdings, is also announcing the launch of Fuelled Certified, a comprehensive screening process for all equipment sold on the platform.
The new Fuelled Certified program will ensure that each piece of equipment will be thoroughly inspected and a Certified Report will be created outlining the condition of the product, including photos, videos and any relevant data a buyer would need. Once a buyer has purchased a piece of equipment from the platform, Fuelled will handle the logistics of dismantling, shipping and, on occasion, installing the product. Fuelled Certified gives buyers and sellers renewed confidence in the transaction process. Buyers will have access to a complete data set regarding the product, technical and logistical guidance when dismantling and reassembling the product, as well as financing options.
"Traditionally, there's been a lack of transparency when reselling oil and gas equipment," said Raj Singh, Founder and CEO of Fuelled. "Listings often had poor quality photos of the equipment and little to no description, and because of that buyers didn't always have an accurate picture of what they're purchasing. With Fuelled Certified, we're giving peace of mind to buyers that they're getting what they pay for. That's why we're thrilled to announce these agreements with Encana and Obsidian Energy to continue to bring the ease of ecommerce to the energy industry."
Fuelled also announces the appointment of two senior members to their growing executive team. Austin Fraser joins the Fuelled team as the VP of Finance and Operations. Prior to joining Fuelled, Fraser, who holds a MBA from Dalhousie University, was President of Zedcor, a company publicly traded on the Toronto Stock Exchange. Ajay Singh joins Fuelled as the VP of Business Development. Singh, who holds a BSc. in Mechanical Engineering from the University of Calgary, previously worked for Enerflex and Exterran, where he was responsible for growing the Middle East business.
To learn more about Fuelled visit: www.fuelled.com
About Fuelled
Fuelled Inc. is an online oil and gas energy equipment marketplace platform designed for exploration and production (E&P) companies. The Calgary-based startup enables E&Ps to purchase high-value production and facility equipment online. The Fuelled marketplace launched in 2014 and its current oil and gas equipment holdings are in excess of $100 million.
SOURCE Fuelled
Press contact: Jamie Gillingham, PR Manager, Eighty-Eight, [email protected], 1 416 944 2722
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