The Oil & Gas Asset Clearinghouse's mid-September sale showed premiums paid for oil properties over gas properties, says Clearinghouse president and chief executive Ken Olive. The sale also hosted strong prices for Rockies properties.

"This auction featured many quality properties in the Rocky Mountain region. As supported by the results of this sale, buyers of quality assets are looking beyond current basis differentials in the region, and are buying properties based on future pricing. It was also evidenced that oil properties are selling at some premium to gas properties."

September average spot Opal and Cheyenne Hub prices were $1.05 per million Btu, the lowest since 2000, reports Logical Information Machines, a data provider to hedge and mutual funds, banks and other market-watchers.

"Seasonally weak prices for Colorado and Wyoming gas production were depressed further as operators competed for limited transport capacity due to interstate pipeline maintenance...New pipeline capacity into Midwest markets will support higher prices next year," the firm reports.

The Clearinghouse auction brought $8 million to Five States Energy Co. LLC, Dallas, for five lots in Texas, Wyoming and Montana, and $29 million to Samson Resources, Tulsa, for 35 lots in the Rockies and San Juan Basin. Whiting Oil & Gas Corp., Denver, sold 22 lots in the Rockies for $4 million.

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