EnergyNet Quick Start Guide

If you're on the fast track to learn about EnergyNet's continuous oil and gas marketplace, this Quick Start Guide will point you in the right direction.

Registration

EnergyNet is the world's only continuous online marketplace for oil, gas and minerals sales and negotiations for qualified buyers and sellers.

You must register as a Buyer to view EnergyNet's listings and auctions for properties other than the Government Lease Sales. Government Lease Sales can be viewed without registering a Buyer account.

If you would like to begin using EnergyNet's continuous online marketplace to divest your oil, gas and mineral assets, you will need to register as a Seller.

If you would like to participate as both a Buyer and Seller, you must register both a Buyer and Seller account.

The simple registration process will only require a few minutes of your time. You can begin the registration process by clicking the links above or visit the Registration page for more information about registering.

Researching

At EnergyNet, we take pride in our work to present properties in a consistent and accessible manner. We have developed specialized data room software to deliver due diligence documents efficiently.

Property Information Pages

Every property sold on EnergyNet has a "Property Information Page" that contains a wealth of due diligence information, including: lot description, production charts, graphs and tables, monthly revenue/expense tables and the property information sheet prepared by the seller. Access these pages by clicking "View Data" from the Auction Listings or NCP Listings pages.

The EnergyNet IDR

The property information sheet also links you to the EnergyNet Internet Data Room (IDR), which contains copies of original documents submitted by sellers, including agreements, check stubs, drilling reports, historical production curves, logs and well data, maps and plats, and much more.

The EnergyNet IDR provides a simple interface to access individual pages, multi-page documents and multiple document sets all from the same interface. Access the IDR by clicking the orange "Enter Data Room" buttons in the Due Diligence section of the property information page you are viewing.

Idr enter data room
Click the orange "Enter Data Room" buttons to access the IDR

Bidding

Requirements for bidding

To bid on properties; you must have a valid, active Buyer account; you must have agreed to the Buyer's Agreement (or Lessee's Agreement for Government Lease Sales) on your Buyer's Homepage; and you must have an adequate bid allowance for the lot you wish to bid on. Login to your Buyer's account to begin.

Properties which are currently available for auction can be found on the Auction Listings page. Access the bid page for an auction property either by clicking the orange "Make Bid" button within the property's listing, or by clicking the "Go To Bid Page" button on a property's information page. When you bid on a lot, you may enter a proxy, a flat bid, or both.

Proxy: By placing a proxy, you are asking the EnergyNet auction engine to bid automatically on your behalf, up to the amount you have specified. Your proxy will then place bids at the minimum amount necessary to maintain your status as high bidder. After you have set a proxy amount, you don't have to be active during the auction to participate, and you don't need to manually place flat bids. EnergyNet highly recommends using the proxy system.

Flat Bid: A "flat bid" is a one-time bid. If another bidder enters a bid that is higher than your flat bid, you will no longer be the high bidder.

Entering your bid

When you reach the bid page, enter your proxy, flat bid, or both. To ensure a secure transaction, you will be required to confirm your Buyer account password before placing your bid. As soon as you have entered your proxy and/or flat bid, a color-coded "information dropdown" will appear at the top of the page with your confirmation. You will receive email confirmations after you have placed a bid, when you have been outbid, and when you are the winner of an auction.

Bid page
The bid page shows the Buyer ID you are logged in with and gives you information about your bid status.

You can keep track of all bidding events from the bid page or property information page for the property you are bidding on. Your Buyer's Homepage also contains a table called "Active lots on which you bid."

Bid information is updated across the EnergyNet site instantly, but you must refresh your web browser to see current results as time passes. Your web 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.