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EnergyNet offers an easy-to-use oil, gas, and other commodities auction and sealed bid transaction service that facilitates the sale of producing working interests (operated and non-operated), overrides, royalties, mineral interests, leasehold, and other contracts.
EnergyNet is a continuous online marketplace with due diligence and bidding available 24/7/365, where auctions and sealed bid packages close weekly.
Most of the properties EnergyNet sells typically range in value from $1,000 to $250MM+. EnergyNet's tech-enabled platform allows clients the flexibility and convenience of conducting their acquisition and divestment activities online.
EnergyNet has business development professionals in every major oil and gas region. To locate your business development representative, visit our Contact Us page for a full list of contact information including telephone and email address information.
We currently have 48,000+ registered buyers with an accumulative credit allowance of over $19 billion in buying power. We have 12,000+ unique sellers, and the numbers grow daily.
Please contact your area business development representative for this information.
Click here to locate the business development representative
If you are considering selling oil and gas properties, please keep EnergyNet in mind as a valuable vehicle to streamline the sale. EnergyNet markets producing fields, working interests (operated and non-operated), overrides, royalties, and non-producing minerals in the Lower 48 United States. Typically, the properties we sell range in value from $1,000 to $250MM+.
As a seller, you will achieve the maximum dollar amount for your properties by exposing them to the largest marketplace of registered and accredited buyers (48,000+), thereby maximizing competition and obtaining the highest possible values.
Selling properties with EnergyNet is quick and easy, taking approximately 35-40 days from the time you submit your completed data package to the time you receive your proceeds, regardless of the size of your lot package.
Since EnergyNet runs a continuous auction and negotiated sale service, you can sell properties whenever you like and never have to worry about canceled or postponed auctions. You can work at your own pace with no looming deadlines. When you're ready, we're ready.
We've sold 300,000+ properties for more than 5,000 companies and individuals including Chevron, ExxonMobil, Apache, Shell, Total, EnCana, EOG Resources, Devon, Marathon, Newfield, EP Energy, Chesapeake, Citation, Hilcorp, Merit Energy, FDIC, the State of North Dakota, Bank of America, Wells Fargo, Harvard and Stanford University. EnergyNet created and hosted the Bureau of Land Management's Oil and Gas Lease Internet Auction Pilot program and assists in the divestment of leases for the States of Colorado, Utah and North Dakota. We have met and exceeded these sellers' expectations, and we will do the same for you.
Most importantly to you as a seller, we work on a success-based commission, so there is no risk to you. If we do not sell your properties for your price, we do not get paid. That creates strong incentive for us to perform. EnergyNet allows its sellers to set a minimum reserve price on any size property.
We look forward to working for you!
All types of interests sell daily in the EnergyNet auction including; Producing Fields, Operated Working Interests, Non-Operated Working Interests, Overriding Royalty Interests, Royalty Interests, Mineral Interests, Leasehold Interests and even Rural Surface Properties. Please remember that properties with well-documented production information / due diligence supported by sufficient financial and ownership information sell best in the EnergyNet auction. The more information a buyer has available the more comfortable with bidding the buyer becomes.
A sealed bid sale should be employed for properties that have significant upside potential, or in the case that a seller would rather offer the property package to a smaller set of potential purchasers. A private sale is also a great approach if you are looking for a discrete way to monetize your assets.
We have successfully closed 82% of all the properties we listed. Please keep in mind that EnergyNet sellers are able to set the minimum price they are willing to accept, and it is sometimes difficult to get buyer and seller expectations to align. The EnergyNet competitive bidding process works very effectively to find the right buyers.
View our Sales Results page for historical sales information.
The following commission schedule applies for properties/lots individually selling for less than $1,000,000 in a calendar month. EnergyNet will give you the lowest possible commission for aggregate sales during a calendar month. For example, if you were to sell 20 properties with an aggregate sales total of $800,000, your commission would be 6.25%.
| Gross Sales Price | Commission |
|---|---|
| < $100,000 | 10.0% |
| $200,000 | 9.5% |
| $300,000 | 8.75% |
| $400,000 | 8.25% |
| $500,000 | 7.75% |
| $600,000 | 7.25% |
| $700,000 | 6.75% |
| $800,000 | 6.25% |
| $900,000 | 5.75% |
| $1,000,000 | 5.25% |
| > $1,000,000 | 4.75% |
The following commission schedule applies for properties/lots individually selling for greater than or equal to $1,000,000 in a calendar month.
| Gross Sales Price | Commission |
|---|---|
| First $ Million | 4.25% |
| Second $ Million | 3.75% |
| Third $ Million | 3.25% |
| Fourth $ Million | 2.75% |
| Fifth $ Million | 2.25% |
| Greater than $ 5 Million | 2.25% |
The only cost to the seller is a commission if the property sells, as long as we agree on the minimum reserve price. We do not charge marketing fees and we do not charge you if your property does not sell. A listing fee will be charged on lots containing only non-producing leasehold.
Yes, a minimum reserve price can be set on any size property, not just the larger ones. This provides price protection, and you are under no obligation to sell the property unless your reserve is met. Please contact the Please contact the business development representative for your asset for your asset to discuss suggested minimum reserve prices.
Please contact the business development representative for your asset specifics regarding your property or package of properties.
Click here to locate your business development representative
No, your reserve price is confidential and is never revealed to prospective buyers. However, there will be notification once the bids have met or exceeded your minimum reserve price letting them know that the auction is now absolute.
First, you need to register as a Seller on the website, then enter the property data sheets online. To learn more about the process and watch a tutorial video about using EnergyNet's powerful online Auction Manager, visit the "How do I sell?" page.
After you've entered the property data sheets online, we will need the following documents to sell your property:
Seller's Checklist for Working Interests:
Seller's Checklist for Overrides and Royalty Interests:
Yes, EnergyNet provides engineering support on larger value properties and operationally complex properties.
Learn about EnergyNet's technical group here.
The seller is responsible for preparing the outgoing conveyance instrument, or having it prepared.
EnergyNet handles the filing of assignments and change of operator forms.
Since we are a continuous auction, properties are always beginning and ending the auction process. EnergyNet auctions each property or lot individually with a specific end date and time. Our auctions normally run for 7 days, but it is ultimately at the seller's discretion. EnergyNet auctions typically end on a Tuesday, Wednesday or Thursday between 10AM and 3PM Central time.
It takes approximately 35 days from the time you submit your Seller's Agreement and a complete data package to the time you receive a check in your hands. It usually takes our staff 5-7 days to prepare your property and activate it on the site, then there is usually a 14-day previewing/due diligence period, followed by a 7 day auction.
After the auction closes, the high bidder has 2 business days to wire money into the EnergyNet escrow account. Once the money is received in whole, we send you a check within 10 business days.
Our 48,000+ pre-qualified buyers include publicly-traded E&P companies, privately-held E&P companies, private equity backed portfolio companies, upstream master limited partnerships, small-to-medium sized regional oil & gas operators, royalty aggregators, trusts, foundations, funds, investment groups and high net worth individuals. EnerygNet's pre-qualified buyers represent the marketplace.
Yes, EnergyNet actively markets your properties to prospective buyers. Our broad and targeted marketing campaign includes:
EnergyNet contacts every registered buyer's bank or financial institution and verifies that their requested bid allowance is sufficient and liquid. Every EnergyNet buyer signs the EnergyNet Buyer's Agreement annually, has established a bid allowance, and has certified that they are a sophisticated and knowledgeable oil and gas investor.
EnergyNet offers a secure system for collecting information and vetting operators prior to accepting bids for operated properties.
Step 1: Operator Information Collection
When bidding on an operated property, the potential buyer provides the name of the operating company (or contract operator company if applicable), the states that the company is licensed to operate in, and the operator number(s). The potential buyer must assert they understand paragraph 4 of the EnergyNet Buyer's Agreement and that they will provide operator bonds and certificates prior to closing.
EnergyNet maintains a record of all submitted information, including the password verified identity of the potential buyer as well as the time the information is submitted.
Step 2: Verification and Seller Approval
After the auction has ended and the winning buyer has been determined, the buyer will be required to fax EnergyNet a copy of their operator bond and certificate/license. EnergyNet will then use their previously provided operator number to verify they are currently in good standing with the appropriate regulatory agency. EnergyNet will email the seller the name and address of the buyer along with the supporting documentation showing that they are an operator in good standing, and based on this information, the seller will have the option to approve or disapprove of the transaction before any funds are exchanged or any documents are filed of record.
EnergyNet can complete this verification and approval process within ten business days following the close of the auction. Ultimately, the Seller will know the buyer's identity and operator status before the transaction is consummated, but the vetting process will not be so encumbering as to deter competition during the auction phase of the sales process.
Create a buyer/viewer registration on the Buyer registration page.
You will be notified of all upcoming properties for sale through a weekly e-mail newsletter after you register as a buyer. You can also create a "Saved Search" from your Buyer's Homepage that will notify you of a property that meets your search criteria (Operations in Oklahoma for example) when the lot is activated (live) on the EnergyNet website. Contact your area business development representative to keep an eye on specific acquisition opportunities.
To learn more, click here to locate your business development representative.
Due diligence information is available on our site including: assignments, source documents, decline curves, production history, joint interest billings, lease operating statements, check stubs, division orders, and maps. You can also print an indexed data package with a push of a button or order a bound hardcopy or flash drive data package.
First you must register as a Buyer and provide the necessary documentation. You will be notified by an EnergyNet staff member without delay when you are eligible to bid or make offers on properties.
Bidding on properties is easy. When you want to bid on a property, go to the property's bid page. You will enter your Maximum Bid, then confirm your account password.
Please enter your bid amount carefully and double-check your entry. Bids cannot be retracted once they are in place.
To learn more about bidding and watch a comprehensive bidding tutorial video, visit the "Bidding on Auction Listings" page.
The EnergyNet auction engine will bid automatically on your behalf, up to the amount you have specified as your Maximum Bid. Bids will be placed at the minimum amount necessary to maintain your status as high bidder.
For example, let's say you would like to bid on a property with a current high bid of $300,000 and a bid increment of $10,000. If you enter a Maximum Bid of $1,000,000 on this property, a new bid will be placed automatically at $310,000, the next minimum increment, to make you the new high bidder. The system will continue to increase your bid whenever you are outbid, up to, and including, the $1,000,000 limit you specified.
The Maximum Bid mechanism is an invaluable tool to maintain your bidding status. Because it operates automatically, based on the parameters you set, you don't have to be active during the auction to participate, and you don't need to manually place additional bids. This feature can be very important when bids begin to increase faster than you can respond manually.
After you have set a Maximum Bid amount, you don't have to be online during the rest of the auction if you are unable. This is especially useful when you must be away from your computer during the auction, or if you won't have access to the Internet at times while the auction is in progress. You don't have to be online or logged in for the system to bid on your behalf.
To learn more about bidding, visit the Bidding on Auction Listings page.
When you place a Maximum Bid, you are asking EnergyNet's bid engine to bid automatically on your behalf, up to the amount you have specified. EnergyNet will place bids at the minimum amount to maintain your status as high bidder. For example, if you place a Maximum Bid of $1,000,000 on an auction with a current high bid of $750,000, a new bid will be placed automatically at $760,000, the next minimum increment, to make you the new high bidder. The system will continue to increase your bid whenever you are outbid, but it will only bid up to, and including, the $1,000,000 limit you specified.
After placing a Maximum Bid that represents the highest amount you are willing to pay for a property, you are able to participate in the auction even if you cannot follow the auction closely due to other obligations.
For more information on bidding, please contact your area business development representative, or EnergyNet's buyer relations representative, Jewell Arias, Jewell.Arias@energynet.com
The high bid in the auction is a binding and valid offer even if the seller's minimum reserve price is not met, so long as the seller accepts it. If the seller makes a counter offer to your high bid in the auction, as in any negotiation, you can increase your offer, stand firm, or walk away.
It is EnergyNet's protocol to negotiate with the high bidder in the auction to work out a deal before moving to the second highest bidder. If you choose not to bid during an auction, you minimize your chances of negotiation after the lot has closed.
There are no obligations to the second highest bidder in the EnergyNet auction. If the seller's minimum reserve price is not met, and we are unable to successfully negotiate a price with the high bidder, we will contact the second highest bidder to begin negotiations, but there is no obligation.
After you are deemed the winning buyer of a property, EnergyNet will send you an invoice. We use your buyer registration information to complete the conveyancing documents. After the funds are received in full and all contractual obligations (i.e. preferential rights, consents to assign, etc.) are waived or exercised and all regulatory filings (change of operator forms, etc.) are complete, EnergyNet will send the conveyance documents for recording. We will then send the buyer and seller recorded copies.
Please contact your area business development representative for such requests.
Click here to locate your business development representative
Follow this link to find information on participating in government resources listing, Participating in Government Listings.