EnergyNet hosts a platform for government agencies to conduct online lease sales. Government lease sale listings and tract information are available to the public without the need to login.
In order to register for a sale and place bids the you must complete the buyer registration process, submit banking information and agree to the Lessee's Agreement to Lease Minerals. Additionally, each individual sale will have specific terms and conditions you must acknowledge during registration, such as the lease form governing the tract to be leased.
When registering a Buyer account, you may choose between a full EnergyNet Buyer account or a Government Listings Only Buyer account. A full Buyer account allows you to participate in all sales on the EnergyNet platform and requires that the user meet and agree to certain SEC and FINRA guidelines. A Government Listings Only Buyer account may only participate in government lease sales, although the account can easily be upgraded to a full Buyer account at any time. There is no cost for either type of Buyer account.
The Buyer registration process will only require a few minutes of your time. After you have submitted your registration information you will be logged into your new account immediately and be able to submit banking information and request a bid allowance.
The Buyer registration process lets you choose to either register as a full EnergyNet Buyer or a Government Listings Only Buyer.
When choosing your Buyer ID, keep in mind that, depending on the type of asset you are bidding on, other users on the EnergyNet.com website may see your Buyer ID in the Bid History table after you have placed a bid. You may use letters (both upper and lowercase) and numbers in your username. Avoid using "special characters" such as exclamation points, etc.
Tips on setting a secure password: When choosing a password, remember a strong password is at least 8 characters long. Avoid using words that can be found in a dictionary and for added security consider using both upper and lowercase letters, numbers and special characters including "! $ &" etc.
Choose a Buyer ID and a strong password to protect your account. Remember the Buyer ID may be seen by other EnergyNet users.
After completing the registration for Government Listings, complete the Lessee's Agreement to Lease Minerals (read a copy here), then submit bank information in order to establish a bid allowance.
Government leases currently available for auction can be found on the Government Listings page. Government Listings are divided into sale groups. Each sale group contains one or more tracts from a specific agency. All tracts within a sale group open for due diligence and research at the same time.
Tracts open for bidding one at a time, in set intervals (1, 2, 3 or 5 minute increments). Tracts are available for bidding for a set period of time, then begin closing in 1, 2, 3 or 5 minute intervals until the last tract is closed. The opening and closing dates and times for bidding are always available on the Government Listings site.
When you access the Government Listings page, you will see a map of the United States featuring all of the currently available tracts. You can use your mouse wheel to zoom in on the map and view the tracts. You may turn on satellite imagery to see the roads or other land features near the tract you are interested in.
Below the map, you will find the individual sale groups listed. Each sale group has an opening and closing time and a Register for Sale and View Listings button.
Every tract available for lease in the Government Listings section has an individual "Tract Information Page" that contains specific data about the tract.
Tract information pages contain the following information:
There are three requirements you must meet prior to placing a bid on a Government Listings tract.
First, you must have a valid, active Buyer account. If you don't yet have a Buyer's account, follow the registration process to create one. You may choose from a full EnergyNet Buyer account, or a Government Listings Only Buyer account.
Next, you must have agreed to the Lessee's Agreement. After you create a Buyer account and log into the site, you can review and agree to the Lessee's Agreement on your Buyer's Homepage.
Finally, you must have an adequate bid allowance for the tract you wish to bid on. Depending on the government agency, tracts may be bid on per acre basis or total bonus. When you enter your bid, the total cost of the lease is calculated. This cost includes all the fees involved in the transaction and cannot be greater than your bid allowance.
Any requests made the day of the sale will be processed as quickly as possible; however, we cannot guarantee it will be processed with enough time for you to bid.
If there is a chance you may need to request an increase, please do so as soon as possible, make sure increasing your bid allowance is not a step you will need to take during a sale.
Your Buyer's Homepage lets you review the status of your Lessee's Agreement. You may also view your bid allowance and request an increase.
After you complete the buyer registration process, provide the necessary bank information and establish a bid allowance, you will be notified via email by an EnergyNet staff member as soon as you are eligible to place bids on tracts.
EnergyNet supports two types of bids: Bidding via Maximum Bid (Proxy), and one-time Flat Bid. When you bid on a tract, you may enter a Maximum Bid, a Flat Bid, or both (individually).
By placing a Maximum Bid (Proxy), you are asking the EnergyNet auction engine to bid automatically on your behalf, up to the amount you have specified. Your Maximum Bid will then be entered at the minimum amount necessary, one bid increment at a time to maintain your status as high bidder.
For example, on a tract with a current high bid of $100/acre and a bid increment of $1, if you enter a Maximum Bid of $200/acre, your new Maximum Bid will place a bid automatically at $101, the next minimum increment, to make you the new high bidder. Your Maximum Bid will then continue to increase your bid whenever you are outbid. If another bidder submits a bid of $150, you become the high bidder at $151. Your Maximum Bid will only bid up to, and including, the $200/acre 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 and you don't have to be active during the auction to participate, and you don't need to manually place one-time flat 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 your Maximum Bid to bid on your behalf.
EnergyNet has found that the majority of our bidders prefer to use the Maximum Bid (Proxy). This is the simplest way to maintain your status as the high bidder if you have valued the property more than other bidders. It minimizes your chances of being outbid at the last minute by another bidder, since your Maximum Bid will instantly place a bid on your behalf when you are outbid, up to the maximum amount you have specified.
EXAMPLE:
If you placed a Maximum Bid of $50,000/acre and second highest bidder placed a Maximum Bid of $25,000/acre, you will win the parcel with a bid of $25,001/acre (just $1/acre more).
The second highest bidder, the agency and the rest of the bidders will never know the amount of your Maximum Bid. They will only see you won with a $25,001/acre bid.
A "flat bid" is a one-time bid. If your flat bid meets the "minimum next bid" amount and exceeds the highest bid recorded at the time of your bid, you will become the new high bidder.
If another bidder places a bid that is higher than your flat bid, you will no longer be the high bidder. You will need to another flat bid manually (or enter a Maximum Bid) before the auction ends to regain your status as the high bidder.
Bid information is updated across the EnergyNet site instantly, but you must "refresh" your web browser to see current results as time passes. Your browser will not automatically refresh the bid history tables, auction status or other events. The information you are viewing is only as current as the last time the page was loaded or refreshed.
For instance, if you load a tract information page and look at the bid history table, you will only see bids that were entered on or before the moment you loaded the page in your web browser. If you wish to see if new bids have been entered, you must refresh the page.
Modern web browsers can be refreshed by pressing the F5 key on your keyboard while you are looking at your browser. You may also click the "refresh" or "reload" button at the top of your browser.