Oil & Gas Asset Clearinghouse Auctions Off Most Lots

Abstract

After months in a timid A&D market, interest may be starting to return at the oil and gas auction houses. The Oil & Gas Asset Clearinghouse said May 21 that it had sold the vast majority of 66 lots offered. So far sales have rung up roughly $24 million. Clearinghouse marketed about 1,400 distinct oil and natural gas properties at the May auction. Another is planned for July, an indicator that the market for properties is returning, Clearinghouse said. Assets in the May auction were combined into strategic lots comprised of working interests, minerals and royalties.