EnergyNet hosts a platform for government entities to conduct online lease sales. Government lease sale groups and tract information are available to the public without the need to login. However, a person must complete the buyer registration process, submit banking information and agree to the Lessee's Agreement to Lease Minerals in order to register for a sale group and place bids. Additionally, each individual sale group may have specific terms and agreements that you must acknowledge prior to 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 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 place 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: A strong password is at least 8 characters long. When choosing a password, avoid using words that can be found in a dictionary, as these types of passwords are less secure. To add security, consider using both upper- and lowercase letters, numbers and special characters including "! $ &" etc.
Choose a Buyer ID that will be seen by other EnergyNet users and a strong password to protect your account.
After registration, to become eligible to place bids on Government Listings, you must complete the Lessee's Agreement to Lease Minerals (read a copy here), then submit bank information in order to establish a bid allowance.
If you are bidding/buying for an entity other than yourself, you will need to provide a Power of Attorney form which can be recorded for each county where you expect to purchase properties. The power of attorney should be in the following format: (Click Here).
Government leases that are 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. All tracts within a sale group open for due diligence and research at the same time. Tracts are available for review and research for a period of two weeks.
Tracts open for bidding one at a time, in 5-minute increments. Tracts are available for bidding for seven days, then begin closing in 5-minute increments until the last tract is closed.
The map on the Government Listings page allows for detailed geographical investigation of tracts and their surrounding area.
When you access the Government Listings page, you will see a map of the United States that features all of the tracts currently available for research and/or bidding. You can use your mouse wheel to zoom in on the map and view the tract. You may turn on satellite imagery to investigate the roads or other land features near the tract you are interested in.
Each sale group contains multiple tracts. Access each tract's information page by clicking the "Tract Info" button for the appropriate tract.
Below the map, you will find the individual sale groups listed. Each sale group has an opening and closing time. Directly below the sale group is a list of the tracts that are members of the sale group. Each tract lists detailed auction starting or ending times, along with the opening or current high bid.
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 detailed information about each tract and auction information.
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. Tracts are bid on using a dollar amount per acre. When you enter your bid, the minimum amount due at closing for that bid amount is calculated. This amount includes all the fees involved in the transaction. The minimum due at closing is compared against your bid allowance when you place your bid. You can see your bid allowance, and request an increase if necessary, on your Buyer's Homepage.
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, 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, 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 place bids at the minimum amount necessary, one bid increment at a time to maintain your status as high bidder.
For example, let's say you would like to bid 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 on this tract, 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. Your Maximum Bid will only bid up to, and including, the $200/acre limit you specified.
The Maximum Bid bidding 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 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 rest 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 highly recommends using the Maximum Bid system. 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.
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. Below are examples of modern web browsers and the location of the refresh button.
The "Refresh" button in Microsoft Internet Explorer 8 is the double arrow to the right of the address bar.
The "Reload current page" button in Mozilla Firefox 3.6 is the circular arrow near the left of the toolbar.
The "Reload this page" button in Google Chrome 5 is the circular arrow near the left of the toolbar.
The "Reload the current page" button in Apple Safari 4 is the circular arrow on the right side of the address box.