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EnergyNet is broadening its reach into transactions involving land, real estate, renewables and other real assets.
Founded in 1999, EnergyNet was an early pioneer in online oil and gas A&D transactions. Now, EnergyNet has formed a new holding company, called Efficient Markets, to expand its offerings in for transactions outside of the core oil and gas business.
Chris Atherton, president and CEO of EnergyNet, said the company is receiving a greater volume of inbound requests from clients in oil and gas or upstream private equity for other ancillary services.
“The big private equity firms are also in these adjacent energy spaces, not just oil and gas,” Atherton told Hart Energy. “They’ve been some of the interested buyers for groups that have potential assets to sell.”
Efficient Markets will manage a suite of tech-enabled marketplaces, including existing platforms EnergyNet and Indigo Energy Advisors, which manages complex oil and gas asset transactions ranging from $10 million to $250 million.
EnergyNet will continue to focus on listing operated and non-operated oil and gas assets, minerals and royalties and undeveloped acreage opportunities using online auctions and sealed bid transactions.
The company also sees an opportunity in expanding its government services offerings. EnergyNet has worked with governmental bodies such as the U.S. Bureau of Land Management (BLM) and multiple state agencies to streamline the leasing and sales process for oil and gas assets.
The Government Resources marketplace will manage leases and sales for other government-owned assets, like timber, forestry, agriculture, renewables, carbon sequestration, mining rights and other verticals, Atherton said.
The RenovaNexa marketplace will facilitate transactions for renewable energy projects, including wind, solar, battery storage and geothermal energy.
VeroLands will manage buying and selling surface real estate opportunities. Atherton said EnergyNet’s core client base of oil and gas majors have a deep portfolio of surface real estate interests they look to sell from time to time.
VeroLands and RenovaNexa will be managing “a large land sale in October and November” for both government and private sector clients, Atherton said.
“We’re really excited about [Efficient Markets],” Atherton said. “It’s a way for us to think about how we, as a company, allocate capital, resources and people.”
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