Clearinghouse sells over $26.7 million - December 07, 2003

Providing coverage of Alaska and northern Canada's oil and gas industryDecember 2003

Vol. 8, No. 49

Week of December 07, 2003

Clearinghouse sells over $26.7 million

The Oil & Gas Asset Clearinghouse said it sold over $26.7 million in U.S. properties at its “Hybrid” auction held Nov. 12 in Houston, Texas.

The Clearinghouse said it offered more than 212 “lots” in such states as Texas, Oklahoma and Louisiana.

About 310 registered bidders competed for the properties, with Internet bidders accounting for 37 percent of total registered bidders and purchasing 26 percent of the lots offered, the Clearinghouse said. The process allows Internet bidders the opportunity to compete against live floor bidders.

The Clearinghouse’s next Hybrid auction will be held Dec. 10 and 11 at the Sheraton North Houston Hotel in Houston.

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