Frequently Asked Questions

The only cost to the seller is a commission if the property sells, so long as we agree on the minimum reserve price. We do not charge marketing fees, and we do not charge if your property is not sold. A listing fee may be charged on lots containing only non-producing leasehold or assets valued below $25,000.

Yes, a minimum reserve price can be set on any size of property. This provides price protection, and you are under no obligation to sell the property unless your reserve is met. Your reserve price is confidential and is never revealed to prospective buyers. However, there will be a notification once bids have met or exceeded your minimum reserve price, letting them know that the auction is now absolute.

Please feel free to contact your business development representative, listed on your Seller’s Homepage, to discuss suggested minimum reserve prices.

Yes, Efficient Markets provides engineering support on higher value or operationally complex properties.

The seller is responsible for preparing the outgoing conveyance instrument, or having it prepared by a third party.

Efficient Markets handles the filing of assignments and Change of Operator forms.

Since we are a continuous auction, properties are always beginning and ending their auction process. Efficient Markets auctions each property or lot individually with a specific end date and time. Our auctions normally run for 7 days and typically end on a Tuesday, Wednesday, or Thursday between 10 AM and 3 PM Central Time, but the schedule is ultimately at the seller’s discretion.

It takes approximately 35-45 days from the time you submit your Seller’s Agreement and a complete data package to the time you receive a check in your hands. It typically takes our staff 5-7 days to prepare your property and activate it on the site, then you have a 14-day preview/due diligence period, followed by a 7-day auction.

After the auction closes, the high bidder has 2 business days to wire money into the EnergyNet escrow account. Once the money is received in whole, we send you your proceeds within 10 business days.

Our 54,000+ pre-qualified buyers include publicly traded and privately held companies, private equity sponsored portfolio companies, small- to medium-sized regional oil and gas operators, royalty aggregators, trusts, foundations, funds, investment groups, and high net worth individuals. Efficient Markets’ pre-qualified buyers represent the full marketplace.

Yes, Efficient Markets actively markets your properties to prospective buyers. Our broad and targeted marketing campaign includes:

• Personal contact by managing directors to historical buyers and area operators
• 54,000+ pre-registered buyers
• Highlighted direct website marketing
• Save search profile activation e-mails
• Weekly email notifications to pre-registered buyers
• Enverus M&A Database
• Press releases to industry publications
• Targeted marketing to historical buyers, bidders and viewers of similar properties

Efficient Markets contacts every registered buyer’s bank or financial institution and verifies that their requested bid allowance is sufficient and liquid. Every Efficient Markets buyer signs the Efficient Markets Buyer’s Agreement annually, has an approved bid allowance, and has certified that they are a sophisticated and knowledgeable oil and gas investor.

The first step to getting on our distribution list for upcoming property sales is to create a Buyer account. You do not need to submit a Buyer’s Agreement or bank information to view listings or watch current sale processes.

After you have created an account, you’ll receive a weekly emailed newsletter that lists all upcoming properties for sale. You can also create a “saved search” from your Buyer’s Homepage that will notify you of a property that meets your specific search criteria when the property is offered on the Efficient Markets platform.

You may also contact your business development representative, listed on your Buyer’s Homepage, to inquire on upcoming specific acquisition opportunities

Per the Buyer’s Agreement, bidders are responsible for conducting their own independent due diligence. To support that process, we provide a set of property-specific information within each Virtual Data Room (VDR), including:

• Title and ownership documents
• Historical production and decline curves
• Production reports
• Joint Interest Billings (JIBs) and Lease Operating Statements (LOEs)
• Check stubs and Division Orders
• Maps and well data

For convenience, you can also download a data package directly from the VDR, allowing you to quickly review, analyze, and model the opportunity offline.

To learn more about bidding, or if you are interested in selling a property, visit the Quick Start Guide.

The Efficient Markets auction engine will bid automatically on your behalf, up to the amount you have specified as your maximum bid. Bids will be placed at the minimum amount necessary to maintain your status as high bidder.

To learn more about bidding, visit the Quick Start Guide page.

When you place a maximum bid, you are setting up the Efficient Market’s auction engine to bid automatically on your behalf at the minimum amount necessary to maintain your status as high bidder, up to the amount you have specified.

For example, let’s say you would like to bid on a property with a current high bid of $300,000 and a bid increment of $10,000. If you enter a maximum bid of $1,000,000 on this property, a new bid will be placed automatically at $310,000, the next minimum increment, to make you the new high bidder. The system will continue to increase your bid whenever you are outbid, but it will only bid up to, and including, the $1,000,000 limit you specified.

After placing a maximum bid that represents the highest amount you are willing to pay for a property, you are able to participate in the auction, even if you cannot follow the auction closely due to other obligations.

To learn more about bidding, visit the Quick Start Guide page or contact your business development representative listed on your Buyer’s Homepage.

The high bid in the auction is a binding and valid offer, even if the seller’s minimum reserve price is not met, so long as the seller accepts it. If the seller makes a counteroffer to your high bid in the auction, as in any negotiation, you can increase your offer, stand firm, or walk away.

It is Efficient Markets’ protocol to first negotiate with the high bidder in the auction to achieve a deal before moving to the second highest bidder. If you choose not to bid during an auction, you minimize your chances of negotiation after the offering has closed.

The second highest bidder has no obligations in an Efficient Markets auction. If the seller’s minimum reserve price is not met and we are unable to successfully negotiate a price with the high bidder, we will contact the you as the second highest bidder to begin negotiations, but there is no obligation to buy the property.

After you are deemed the winning buyer of a property, Efficient Markets will send you an invoice. After the funds are received in full, all contractual obligations (i.e. preferential rights, consents to assign, etc.) are waived or exercised, and all regulatory filings (change of operator forms, etc.) are complete, Efficient Markets will confirm title instructions and send the conveyance documents for recording. We will then send recorded copies to the buyer and seller.

Learn more about participating in government offerings here.