![As US drilling dries up, auctioneers sell unused oil equipment](https://cdn.energydais.com/media/images/news/144_qvGr8cw.png)
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As the US drilling industry sails through a rough patch, the auction market has once again become active. On Friday, a $500,000-worth Caterpillar oil swabbing rig was being auctioned by Auctioneer Greg Highsmith before a North Dakotan buyer paid $27,500. Auctions are likely to remain on the calendar throughout the year and into 2021.