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Real-Time Auction of O&G Assets Set for April

Real-Time Auction of O&G Assets Set for April

The Oil & Gas Asset Clearinghouse will hold another live/Internet energy property auction later this month.

Through an Internet browser, registered on-line bidders will be able to compete in real-time against both floor and other Internet bidders. Users must pre-register at www.petroleumplace.com to participate as an on-line bidder or viewer.

The April 26 auction will feature 1,825 top quality oil and gas properties, according to the Englewood, CO, clearinghouse company. It will begin at 9 a.m. at the Sheraton North Houston Hotel in Houston, TX. Sellers will include: Chesapeake, BP Amoco, Swift Energy, Apache, Cross Timbers Oil, St. Mary Land & Exploration, CamWest, Maynard Oil, Fasken Land and Minerals and others. The properties that will be auctioned are located in a number of states.

Among the selected offerings will be 58 "exceptional, higher-valued" properties. These include some Swift Energy fields in Alabama, Louisiana, Oklahoma, Texas and Wyoming; Cross Timbers' properties in Colorado and Texas; A.C.T. Operating properties in New Mexico; Chesapeake properties in Oklahoma; Nadle & Gussman properties in several counties in Oklahoma; Exploration Venture Capital's properties in Texas; a Maynard Oil field in Texas; CamWest properties in Texas; St. Mary Land & Exploration property in Texas; Simpson Investments' fields in Texas and others.

Susan Parker

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