AMARILLO, Texas, Nov. 28, 2012 /PRNewswire/ -- EnergyNet is pleased to announce that the State of Utah School & Institutional Trust Lands Administration (SITLA) has retained EnergyNet to provide web-based auction services for the State's oil, gas and other mineral leases. This five-year contract was signed on November 20, 2012.
SITLA plans to begin offering their "Over the Counter" lease properties as of January 2013.
Utah is the second state to begin utilizing an online auction for their lease sales. Utah joins North Dakota who executed a five year contract with EnergyNet in June of this year for their online lease sales.
SITLA is responsible for the management of more than 4.3 million mineral acres. Monies raised through the management and leasing of this acreage is used to fund public education in the State and other beneficiaries.
Bidders may register and prequalify for bidding on EnergyNet.com at any time. Specific instructions and user guides for all of Utah's online lease sales will be available at EnergyNet.com in the Government Lease Sales section, link: http://www.energynet.com/govt_listing.pl or in the Help Center.
EnergyNet specializes in Auction, Sealed Bid and Negotiated Sales as well as, Government Lease Sales and is the only continuous oil and gas property marketplace that operates 24/7/365, offering constant liquidity. Selling properties in their lowest definable strategic unit (single well, lease or field) maximizes value by attracting more bidders, thus increasing competition. EnergyNet's real-time marketplace provides exemplary service to sellers and buyers. EnergyNet's 24/7/365 sales provide accurate value assessment in a liquid market by tracking transaction metrics on a consistent and frequent basis, with property sales in every onshore U.S. Basin. Let us match our capabilities to your requirements. Call 877.351.4488 or visit our website: www.energynet.com.
INVESTMENTS IN OIL AND GAS PROPERTIES ARE SPECULATIVE AND INVOLVE SUBSTANTIAL RISK, INCLUDING POSSIBLE LOSS OF PRINCIPAL. THESE RISKS INCLUDE COMMODITY PRICE FLUCTUATIONS AND UNFORESEEN EVENTS THAT MAY AFFECT OIL AND GAS PROPERTY VALUES.
Engineering / State & Federal Leasing