The current state of the oil and gas industry looks grim to some. In Indiana County, Pennsylvania, used drilling equipment sold at auction to buyers ranging from resellers to companies optimistic that the industry will make a comeback.

Pittsburgh Post-Gazette PowerSource reports that when the oil and gas industry is doing well, drilling equipment auctions may sell fewer pieces at higher prices. When the industry is slow, more pieces will sell for less money.

Used drilling equipment is needed in countries like Panama, where the Panama Canal is being expanded, and in Yemen, where the equipment can be used to drill water wells from reservoirs as deep as shale formations.

Read more: Pittsburgh Post-Gazette PowerSource > Going, going, gone: Oil and gas auctions reflect industry woes