Because EnergyNet.com, LLC is a continuous marketplace, it is not necessary to motivate Buyers to attend a live sale. They will look at more potential target properties because it's as easy as sitting down at the computer. Properties are exposed to Buyers who might not otherwise have shown an interest. The Seller and EnergyNet.com work together to present properties in a manner that will expose them to the widest Buyer audience possible. Buyers are generally looking for properties in their current geographic area of interest., or are seeking exposure in a new operating area. If you want to combine more than one property into a single lot - here are some recommended guidelines you may wish to employ:
Do Consider Combining
- Wells on the same lease, tank battery or meter.
- Wells subject to the same Joint Operating Agreement.
- A low value well or interest which may have trouble selling on its own with a higher value well or property.
- Wells or properties operated by the same Operator.
Avoid Combining
- Wells or properties which are in different geographical areas.
- Wells or properties which are subject to preferential rights or other obligations under the Joint Operating Agreement with ones which are not. This combination will prolong closing and complicate value allocations.
Consider Separating
- An Overriding Royalty interest from a Working Interest if you own both in the same well. Buyers targeting these differing interests will maximize the value of each.
The ultimate decision of combining properties into lots rests with each Seller. Because EnergyNet.com, LLC's auction service is operated on a per well or lot basis, you do not have to worry about your buyer audience losing interest during a long sale. This means you don't have to be concerned with holding back your "Big Draw" properties until the end of the auction to "entice" Buyers to hang in until the bitter end. Every property receives "Top Billing."