With over 90% in value of our minimum bid properties sold, and total proceeds that exceeded seller expectations, this was a very successful auction. Harrison Williams, CEO
Houston, Texas (PRWEB) May 20, 2015
The most recent auction conducted by The Oil & Gas Asset Clearinghouse (“The Clearinghouse”), a leading provider of acquisition and divestiture services for oil and gas properties, demonstrated that the market for oil & gas properties is beginning to function, as the value of properties monetized was well over double that of the previous auction in March. In the live auction last week, The Clearinghouse marketed almost 1,400 distinct oil and gas properties, combined into 65 strategic lots comprised of working interests, minerals, and royalties. Sellers included QEP Resources, Alpha Petrovision, The Blanco Company, and RRig Resources to name just a few.
The Clearinghouse is the only oil and gas acquisition and divestiture advisory firm with in-house technical expertise that offers a complete line of auction and negotiated transaction services.
CEO Harrison Williams remarked, “With over 90% in value of our minimum bid properties sold, and total proceeds that exceeded seller expectations, this was a very successful auction. The market has digested the commodity price drop and partial recovery and is once again functioning normally. We believe our May auction and other recent M&A activity are harbingers of a healthy market. The Clearinghouse extends its thanks to both our sellers and buyers for their spirited participation and their patience as we dealt with technical log-in issues. Our continuing upgrade of our capabilities will ensure that this will not occur again. We look forward to a successful July auction.”
The Clearinghouse will hold its next auction on July 15, 2015. Consignments for that auction are still being accepted. If you are interested in participating in the auction, please contact The Clearinghouse for details.
About The Oil & Gas Asset Clearinghouse
The Clearinghouse, a CenterGate Capital portfolio company, is the premier provider of oil and gas property marketing and advisory services. Conducting numerous oil and gas property auctions annually, The Clearinghouse allows its clients to participate through physical attendance or to compete online in real time. The Clearinghouse also provides negotiated transaction services focused on the mid-market. All marketing and advisory services are supported by a high level of reserve engineering, geo-science and land expertise. More information about The Clearinghouse and its upcoming auctions can be accessed at http://www.ogclearinghouse.com.