About The Clearinghouse
The Oil & Gas Asset Clearinghouse is the only marketing services firm that offers a complete line of auction and negotiated transaction services; fully supported by Internet and digital data delivery systems. Our four primary transaction service lines are:
Hybrid Live Auctions (simultaneous floor & Internet bidding)
The Clearinghouse has revolutionized the oil and gas auction divestiture business by combining the advantages of negotiated sales (quality evaluation data, data room support) with the advantages of an auction (maximum buyer exposure, competitive sale environment, immediate closing, no negotiation and quick settlement). Founded in 1993, The Clearinghouse continues to improve on its position as the industry leader by being the first and only marketing firm to host Hybrid Auctions which combine the ability to bid either over the Internet or in person at our live floor auctions. Internet bids are received on approximately 80% of the properties offered and are an important piece of our buyer base. All “Notable Properties” offered by The Clearinghouse are supported by comprehensive electronic and physical data rooms. Additionally, our Technical Services team will provide engineering, geology, commercial evaluation and packaging recommendations for all Notable Properties.
· Exclusively Online Auctions - The Clearinghouse also offers Exclusively Online auctions which are server based Internet sales. By combining The Clearinghouse’s considerable auction transaction experience with our technical development team, we have developed a powerful, state-of-the-art auction engine, run on our own servers, that has the scalability to handle high volumes of simultaneous bidding activity. Our Exclusively Online auction offers a fair, electronic process to all participants and gives every bidder a reasonable opportunity to be the successful buyer.
· Mid-Value Negotiated Transactions -The Mid-Value Negotiated sales process (“MVN”) provides a cost effective, hybrid marketing program for producing assets that fall between a typical auction property and a negotiated package. The ideal MVN property is geographically concentrated, has a market value of > $10 million, and significant value (>30%) in non-producing reserves. Distinguishing attributes of the MVN transaction process are: (1) both broad and targeted market exposure, (2) a flat retainer charge, (3) performance-based success fees, (4) short transaction cycle; and (5) the use of a confidentiality agreement (if warranted).
· Full Process Negotiated Transactions -The Clearinghouse has provided negotiated transaction services to the industry since June 1999 under both The Clearinghouse brand and Petroleum Place Energy Advisors. Our full negotiated transaction process is distinguished by unmatched technical review and understanding of the reserve and geological characteristics of the assets presented to the marketplace through credible and comprehensive data rooms. Our attention to detail and focus on continuous communication with both the Seller client and prospective bidders has distinguished this process for years. This full process is generally used for the more technically complex, geographically concentrated assets, or corporate transactions, and feature: (1) both, broad market exposure and targeted marketing, (2) a reimbursement of actual technical fees, (3) performance-based success fees, (4) 3-6 month transaction cycle; and (5) the use of a confidentiality agreement if desired.
· Electronic Data Rooms: - In addition to our physical data rooms, The Clearinghouse is an industry leader in supplementing our marketing services with the ability to illuminate properties by electronic means via our website (www.ogclearinghouse.com) in an Electronic Data Room (EDR). Our goal is to make the business of discovering buy opportunities, as well as evaluating, transacting and processing A&D projects, as efficient and seamless as possible. Multi-layered CD-ROM and Internet data rooms offer the ability to conveniently showcase numerous properties’ characteristics. These include land, geologic, geophysical, cultural data, engineering and financial aspects of the properties. EDR’s can be viewed 24/7 by multiple viewers simultaneously.
· Data Room Explorer: - Data Room Explorer™ delivers auction related scanned images of evaluation data on CD-ROM or through the Internet. Data Room Explorer™ has full sort, seek and print capabilities through an extremely simple desktop interface. Our goal is to reduce the discovery time required to perform due diligence.
· Buyer Database: - The Clearinghouse’s buyer database contains “acquisition profiles” detailing geographic preferences, acquisition size, and asset preferences for a broad range of companies throughout North America. This database contains thousands of historical transactions and is a critical tool enabling The Clearinghouse to market on both a broad exposure and targeted basis. Our Selective Offering ™ sale brochures are mailed to over 16,500 qualified and sophisticated potential buyers.
KEITH GIBBS, CPL
Mr. Gibbs began his career in 1974 working as a legal clerk/title examiner in South Texas. He received
his BBA in Finance in 1978 from the University of Texas at Austin. He has over 30 years of land and managerial experience
with a number of independent oil and gas companies. Mr. Gibbs is a Certified Professional Landman, a member of the American
Association of Professional Landmen, and the Houston Association of Professional Landmen.
DEBORAH C. RADFORD
Ms. Radford has held varying positions of administrative responsibility since 1981 and was instrumental
in the formation and development of THE CLEARINGHOUSE. Debbie is presently responsible for seller coordination, sale brochure
production, data package production and distribution, administration, sale site coordination and settlements.
PATRICK M. DAPRA
Vice President - Negotiated Transactions
Mr. DaPra joined The Oil & Gas Asset Clearinghouse in October 2010. He has more than thirty one years of diverse energy
industry experience mainly with small independent exploration and production companies. Prior to joining The Oil & Gas Asset
Clearinghouse, Patrick was the Manager of Business Development at ERG Resources, L.LC. Prior to joining ERG, Patrick was a Managing Director
at Moyes & Co., Inc. Patrick was actively assisting clients in operating agreements, purchase and sale agreements, lease agreements and various contract interpretations. Prior to joining Moyes & Co., Inc, Pat was the Managing Director of Cambrian Capital Corporation where he was responsible for the development of oil and gas assets and monitoring loans for compliance. Pat worked for various independent oil and gas exploration and production companies in the accounting and finance areas. Pat holds a BBA Degree in Finance from the University of Wisconsin-Whitewater and is a member of the Society of Petroleum Engineers (SPE) and the Texas Independent Producers & Royalty Owners Association (TIPRO).
LEAH D. STEVENS
Ms. Stevens received her BBA in Petroleum Land Management from the University of Texas in May 1985.
She began her career as a Landman in October 1985, and has continued assembling thirty
years of land and legal experience with emphasis on due diligence and title matters throughout the United States.
Ms. Stevens is a member of the State Bar of Texas and Houston Association of Professional Landmen.
ROBERT L. DAWSON
Vice President - Business Development
Mr. Dawson received his BS in Sociology from Oklahoma State University. He was honorably discharged
from the U.S. Marine Corps in 1971. He had over twelve years of successful sales and management experience prior to entering
the oil and gas industry. His last twenty nine years of professional experience have been within the
petroleum industry, twenty five of which involved the marketing of oil and gas divestitures. Mr. Dawson
has been a SEC broker dealer registered representative holding Series 63 and 22 licensing since 1986. Mr. Dawson is an active
member of the Oklahoma Independent Petroleum Association, The Wildcatters' Club of Oklahoma, Kansas Independent Oil & Gas
Association, Oklahoma City Association of Petroleum Landmen and The Tulsa Association of Petroleum Landmen.
Business Development Manager - Dallas Region
Mr. Morris received his BA from the University of Texas Arlington and has more than
twenty five years of business development experience. Prior to joining the Clearinghouse team he was
Vice President of Acquisitions & Divestitures/Business Development at Noble Royalties in Dallas, TX. His responsibilities included
management, sales, marketing and organizational strategy for the Acquisitions and Divestitures team. Prior to the energy industry
he had 18 years of success in business development, marketing and management. Mr. Morris is a member of the Independent Petroleum
Association of America and the Texas Independent Producers and Royalty Owners Association.
KEVIN R. TOWNSEND
Vice President - Business Development
Mr. Townsend received his BS in Mechanical Engineering from the University of Texas and has thirty five years
experience in the oil and gas industry. He has spent the last eighteen years in the areas of production optimization and formation
evaluation throughout the Gulf Coast, West Texas, the Rockies and the West Coast. He is a SEC broker dealer registered representative
holding Series 63 and 22 licensing. Mr. Townsend is an active member of the Society of Petroleum Engineers.
DENNA K. ARIAS,
Business Development – Houston Region
Mrs. Arias has more than thirteen years of business development experience and has been involved in the evaluation of acquisitions and divestitures and the development of sales opportunities. She received her B.A. in Business Management and received a PLM Certification. Prior to The Clearinghouse her professional experience included property evaluation and project coordinating with Swift Energy Company and DDD Energy, Inc. She is a member of the American Association of Professional Landmen, Houston Producers Forum, North Houston Association of Professional Landmen and the Texas Independent Producers and Royalty Owners Association.
JENNIFER M. POLITO,
CPA Accounting Manager
Ms. Polito earned her BBA degree in Accounting from Texas A&M University, College Station in 1992. Ms. Polito
is a Certified Public Accountant in the State of Texas and a member of the Texas A&M Former Student Association.