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Information current as of: Wednesday March 10, 2010 10:32:24 AM CST

Why EnergyNet?

When the co-founders created EnergyNet ten years ago, they aimed to create a liquid marketplace for buyers and sellers to conduct business on their own terms and timelines. Instead of re-inventing the already established one-day auction, they wanted to create a marketplace that was active and vibrant in both good times and bad.

Ten years later, that marketplace exists, bringing buyers and sellers together in real time from anywhere in the US and Canada. The EnergyNet marketplace finds the needles in the haystacks that are willing to pay the most for various types of energy assets in the current marketplace. The quality and efficiency of our marketplace is incredible: Once a sale is completed, it is nearly unheard of for the funding of the sale to fall through.

The EnergyNet team has had the pleasure of working with some of the finest people in the oil and gas business. We are proud to present some of the comments and testimonials we've received over the years.

Read Testimonials from other EnergyNet buyers and sellers.

EnergyNet History

Throughout these ten years, EnergyNet has reached many significant milestones. Each year has brought new challenges to overcome. Indeed, those challenges are what have created the company we have today, and are what compel us to expect a promising future. The following events are a few of the milestones EnergyNet has reached throughout our first ten years of business:

  • February 1999 - EnergyNet.com is incorporated
  • February 2000 - EnergyNet sells the first oil & gas property ever to be auctioned online
  • September 2001 - EnergyNet is named "Best of the Web" by Forbes Magazine
  • January 2003 - EnergyNet announces bidders in all 50 states and sells first lot for Chevron Texaco
  • November 2004 - EnergyNet exceeds $100 million in cumulative property sales
  • December 2005 - EnergyNet exceeds $100 million in annual property sales
  • September 2006 - EnergyNet sells first property in Canada
  • December 2007 - EnergyNet sells largest single lot at $8.75 million
  • April 2008 - Largest sale day of $12.6 million and largest sale month of $31.75 million
  • August 2008 - EnergyNet is awarded the Bureau of Land Management contract to create and host the Oil and Gas Lease Internet Auction Pilot (OGLIAP)
  • December 2008 - EnergyNet sets new property sales record of $119 million while also surpassing $500 million in cumulative property sales.
  • February 2009 - EnergyNet celebrates 10 years of Innovation in the A&D Industry

EnergyNet Marketplace Facts

  • EnergyNet's monthly bidder auction participation is enormous - over 7,000 proactive participants
  • More Exposure = More Competition = Higher Prices for the Seller
  • We offer your properties to our entire bidder database simultaneously rather than sequentially asking one person at a time if they are interested. This allows us to identify the few needles in the haystack that are willing to pay the absolute most in a short amount of time.
  • The sales cycle - start to finish - is fast - only about 35 days
  • We allow the seller to set a minimum reserve price on any size property
  • Our commissions are success-based, and we do not charge a promotional fee to hold an auction or a penalty fee if a property does not meet your reserve price

Vital Stats on EnergyNet

  • EnergyNet successfully closes 85% of the deals listed
  • EnergyNet closes 2,000+ individual oil and gas property transactions annually
  • EnergyNet has 14,500+ registered and qualified bidders, with over $3 Billion in aggregate registered funds ready to bid
  • EnergyNet has sold properties for over 2,500 different companies and individuals
  • EnergyNet has sold over 30,000+ individual properties in practically every U.S. Basin
  • EnergyNet's largest month transaction total is $31.75MM
  • EnergyNet's largest package of lots sold was $100MM+

EnergyNet's Commission Includes

  • Property Preparation
  • Land Staff Support
  • Scanning of all Hardcopy Data/ Electronic Data Transfer
  • Hosting Online Due Diligence Data Rooms for each lot.
  • Creation and Delivery (Mailing & Downloads) of Bound Data Packages and CD-ROMs to Buyers
  • Property Marketing, Advertising and Promotion
  • Facilitate the Competitive Bid Process / Screen Buyers/ Credit Verification
  • Closing Services / Post-Sale Negotiation Services
  • Wiring / Escrow Services
  • Conveyance Documents to Seller and Buyer Recorded