During the formation of EnergyNet in 1999, the co-founders aimed to create a liquid marketplace for buyers and sellers to conduct acquisition and divestiture business on their own terms and timelines; an active and vibrant marketplace quite different from the existing one-day hotel-hybrid auction method.
Today, that marketplace flourishes, bringing geographically dispersed buyers and sellers together in real time. Our goal has always been to provide an efficient, ethical, and convenient platform for industry professionals to participate A&D activities. We remain dedicated to the service of our oil and gas clients, and the industry, in addition to expanding our commodity offerings.
Our efforts to establish and strengthen relationships with E&P companies, lenders, law firms, private equity sponsors, and restructuring firms continues to benefit our clients.
Why EnergyNet? - The simple answer is we consistently deliver.
Our clients' continued confidence in our platform, market reach, and team of industry professionals is a testament to the fact that we consistently exceed expectations in terms of value achieved, exposure, competition, and efficient closings. Competitive, structured, fair sales process consistently work in all market situations.
EnergyNet continues to earn the business of our clients by getting deals to the finish line with our dynamic and active buyer base. EnergyNet is well positioned to help our clients realize maximum benefit from any A&D activities.
We invite you to integrate EnergyNet into your acquisition and divestiture strategies.
Read Testimonials from other EnergyNet buyers and sellers.
Us vs. Them
Numerous Factors Differentiate EnergyNet from the Competition
- Exposure - Why wait? EnergyNet specializes in Auction and Sealed Bid / Negotiated sales and is the ONLY Continuous Oil & Gas Property Marketplace that operates 24/7/365, offering constant liquidity. Selling properties in their lowest definable strategic unit (field, lease, single interest) maximizes value by attracting more bidders. EnergyNet does not hold hotel/hybrid auctions on a fixed date that are subject to cancellation when an adequate volume of properties are not under contract. EnergyNet's real-time marketplace is designed for sellers and buyers, not the convenience of the advisor.
- Rapid Sales Cycle - Regardless of the number of properties, selling with EnergyNet takes only 35 days from the receipt of data to issuing a check to the seller. The market is too dynamic for one-day auctions scheduled two months in the future and subject to cancellation, which often happens in a hotel/hybrid auction.
- Success-Based Fee - EnergyNet is compensated on a success-based commission only. If the property does not sell, we do not get paid.
- Competition - Greater buyer exposure, as measured by the number of bids and unique bidders, maximizes value. EnergyNet averages 8.4 bidders per transaction vs. 3.2 for the hotel/hybrid auction. EnergyNet brings 35,000+ unique registered bidders of which 8,200+ participate monthly. At EnergyNet, bidders have a 7-day bid window. At hotel/hybrid auctions, bidders have only 2 minutes to place a bid. Sellers can only hope that the right bidders are present. EnergyNet reaches many bidders who have never participated in a hotel/hybrid auction.
- Evaluation Data - EnergyNet provides all due diligence material online in a consistent, organized, and complete presentation. Hotel/hybrid auctions rely heavily on paper, either mailed to bidders or in boxes at the hotel.
- Execution - EnergyNet closes 1,500-2,000+ transactions annually and has sold 44,000+ properties. More than 5,000 unique entities have sold assets through EnergyNet. The success rate of EnergyNet auctions on average is 82% vs. only 65% for hotel/hybrid auctions.
- Liquidity - EnergyNet has 140+ auction closing days per year; Tuesday, Wednesday, and Thursday of every week. Hotel/hybrid auctions close only 7 times per year, on average.
- Market Knowledge - EnergyNet has the pulse of the market. EnergyNet's 24/7/365 sales provide accurate value assessment in a dynamic market to track metrics on a consistent and frequent basis, with property sales in every onshore U.S. basin.
- Recognition - Chevron, ExxonMobil, Shell, Devon, Apache, EOG Resources, EnCana, Bank of America, EnerVest, Hilcorp, Wells Fargo and many other large, experienced companies utilize EnergyNet to divest assets - why not you?
Since 1999, 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 eleven 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
- April 2008 - 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
- April 2011 - EnergyNet sells largest single lot at $12.05 million and largest sale day of $21.07 million
- December 2012 - Property sales reach $1 billion, cumulative
- December 2013 - EnergyNet sets new property sales record exceeding $202 million
- December 2014 - EnergyNet breaks records again, exceeding $283 million in sales for the year
- August 2015 - EnergyNet holds the first online oil and gas lease auction for the Texas General Land Office, netting approximately $20 for public schools
- June 2016 - Forbes Magazine declares that EnergyNet has over 75% of the online oil field auction market
- March 2017 - MPK Equity Partners becomes an EnergyNet backer
- September 2018 - EnergyNet sells 142 parcels for BLM New Mexico, exceeding $100 MM
- February 2019 - EnergyNet celebrates 20 years in the A&D Industry
- February 2020 - EnergyNet launches EN Indigo, Tech-Enabled Upstream Oil & Gas Acquisition & Divestiture Platform for Asset Deals Valued $20MM to $250MM+
- May 2020 - EnergyNet's Government Resources department held it's first ever Agricultural lease sale
- November 2020 - EnergyNet's first ever land sale auction (real estate)
- In 2020 - EnergyNet added 3,000+ new bidders to the EnergyNet.com platform
EnergyNet Marketplace Facts
- EnergyNet's monthly bidder auction participation is enormous - over 8,500 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 - approximately 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 82% of the deals listed
- EnergyNet closes 2,000+ individual oil and gas property transactions annually
- EnergyNet has 35,000+ registered and qualified bidders, with over $6 Billion in aggregate registered funds ready to bid
- EnergyNet has sold properties for over 5,000 different companies and individuals
- EnergyNet has sold over 65,000+ individual properties in practically every U.S. Basin
- EnergyNet's largest month transaction total is $1,103 MM
- EnergyNet's largest package of lots sold was $250MM+
EnergyNet's Commission Includes
- Property preparation and data room preparation
- Engineering and geologic analysis staff support
- Scanning of all hardcopy data and electronic data transfer
- Hosting online due diligence data rooms for each lot
- Creation and delivery (mailing & downloads) of bound data packages and flash drives 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