EnergyNet demonstrates resilience in volatile market with $100MM oil and gas assets closed in first half 2015

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Jul 07, 2015, 06:06 ET

AMARILLO, Texas, July 7, 2015 /PRNewswire/ -- EnergyNet celebrated its most successful year in 2014 recording more than $283 million in property sales and even with the drastic drop in oil prices, the acquisition and divestiture of oil and gas assets has remained robust in 2015. Rather than slowing down, EnergyNet's divestment business has continued to outperform in the low commodity price environment with sales of over $100 million for first half 2015.

"Sellers are taking advantage of our always-on oil and gas property marketplace to raise needed capital and monetize non-core assets," says William Britain, Chairman. "Sellers can divest assets whenever they're ready. We have a robust and steady flow of acquisition opportunities coming to market this year and there are more highly acquisitive and well-capitalized buyers participating than ever."

To date, during 2015, EnergyNet has sold 1,570 properties for 125 unique sellers, and closed transactions on 67 individual days.

"EnergyNet has been fortunate to represent a number of notable clients divesting non-core assets this year including Devon, Chevron, SM Energy, Shell, EnerVest, Newfield, the FDIC, Unit Petroleum, Chaparral Energy, Parsley Energy, and Willischild Oil and Gas. Additionally, the States of Texas, Colorado, North Dakota and Utah have chosen to utilize EnergyNet's platform and market reach to maximize value received for state leases. Our steady deal flow and high close rates is recognition that the industry understands our platform and marketing process works consistently," says Chris Atherton, President of EnergyNet.

EnergyNet offers efficient oil and gas property transaction services including sealed bid, auction, and negotiated sale services to facilitate deals for producing fields (operated and non-operated working interests), overrides, royalties, mineral interests, and non-producing leasehold. EnergyNet is a continuous oil and gas property marketplace with due diligence and bidding available 24/7/365, where transactions close weekly. Most of the properties EnergyNet markets are located in the lower 48 United States and typically range in value from $100,000 to $50,000,000 individually. Using an Internet platform, EnergyNet allows buyers the flexibility and convenience of conducting their acquisition and divestment activities online. EnergyNet typically sells approximately 1,500 deals per year.

Read more about EnergyNet's sales history online at www.energynet.com (see the "Sales Results" menu item at the top of the site). For more information, contact Ethan House, Director of Marketing: (405) 759-8437 or [email protected].

Contact:
Ethan House
Director of Marketing
EnergyNet.com, Inc.
7201 I-40 W., Suite 319
Amarillo, TX 79106
Office: (405) 759-8437
Cell: (405) 255-5444
Email: [email protected]
www.energynet.com

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SOURCE EnergyNet