Hybrid Auction draws $39M in property sales, 32% from Internet bidders

Ray Tyson

The Oil & Gas Asset Clearinghouse said it sold more than $39 million in properties at its Hybrid Auction held Nov. 10 in Houston. The Clearinghouse offered 282 lots.

There were some 330 registered bidders who competed for the properties, about 32 percent of which bid on the Internet, according to The Clearinghouse. The process allows Internet bidders the opportunity to compete simultaneously and on a real time basis against floor bidders.

Some of the more notable properties sold included: Perkins field in Calcasieu Parish, La., for $725,000; Tinsley field in Yazoo County, Miss., for $900,000; Johnson field in Ector County, Texas, for $675,000; Olds Rocket field in Antrim County, Mich., for $850,000; Montana Royalty Package for $650,000; various coalbed methane packages in Campbell County, Wyo., for $1,675,000; Union City field in Canadian County, Okla., for $1,65 million; Yukon NW field in Canadian County, Okla., for $2.5 million; Antioch East field in Garvin County, Okla., for $1.95 million; Tuttle East field in Grady County, Okla., for $835,000; and the Oklahoma City field in Oklahoma County, Okla., for $4.8 million.

Other notable properties sold at the auction included the Ingram Trinity, Personville North, Genevieve, Pan-Ware, Bethany and Freestone fields in Anderson, Henderson, Limestone, Navarro, Panola and Freestone counties, Texas, for $575,000; Rexville field in Austin County, Texas, for $1 million; McAllen Ranch field in Hidalgo County, Texas, for $2 million; Giddings field in Fayette County, Texas, for $5.2 million; and the Healdton field in Carter County, Okla., for $720,000.

The Clearinghouse’s next Hybrid Auction is scheduled for Dec. 8 at the Sheraton North Houston Hotel in Houston.