About The Clearinghouse

About The Clearinghouse
Clearinghouse Staff
Corporate FAQs

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.

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The Clearinghouse Staff
Houston, Texas

KENNETH R. OLIVE, JR.
President and Chief Executive Officer
Ken Olive founded "The Clearinghouse" in 1993 and serves as President and Chief Executive Officer. The Clearinghouse has established itself as the only transaction advisor in the world offering complete transaction advisory services in every venue - live and Internet auctions, mid-value negotiated sales and fully engineered negotiated transactions. Ken is a member of IPAA, AAPL, TIPRO, OIPA and HAPL. In 1997 he was selected as the Entrepreneur of the Year in the category of Energy and Energy Services by the Ernst and Young sponsored Entrepreneur of the Year program. He has also been named Outstanding Landman by HAPL and received the APEX award from AAPL for professional excellence and his entrepreneurial spirit.

Ken was born and raised in Vernon, Texas and graduated in 1974 with a BBA in Marketing from Texas Tech University.

RONALD K. BARNES
Senior Executive Vice President - Operations & Business Development
Mr. Barnes joined The Clearinghouse in 1998 and is responsible for managing the business development and marketing efforts for all of The Clearinghouse’s business. Ron is a 1976 graduate of the University of Oklahoma with a BBA in Petroleum Land Management. He spent ten years with Tenneco Oil Company in various land and management positions where he was involved in all phases of land work. He subsequently worked ten years for Tenneco Energy in various management positions, including natural gas transportation, marketing and trading. Mr. Barnes is an SEC broker dealer registered representative holding Series 63 and 22 licensing.

Mr. Barnes is an active member in numerous industry organizations such as the American Association of Professional Landmen, Houston Association of Professional Landmen, North Houston Association of Professional Landmen, Independent Petroleum Association of America, Oklahoma Independent Petroleum Association and Texas Independent Producers and Royalty Owners Association.

DAVID R. KNOX
Senior Senior Vice President - Negotiated Transactions
Mr. Knox joined The Clearinghouse in 2010 and is responsible for managing the negotiated transactions for The Clearinghouse. Dave also provides guidance for technical valuations and customer service. Dave is a 1978 graduate of The University of Alabama with a BS in Mechanical Engineering. He spent thirty years with Amoco and BP in various engineering, strategy and acquisition and divestment roles. He has conducted all aspects of property transactions from portfolio analysis to data room creation and management to negotiation and deal closure. Following his long career in M&A he also helped to develop Capgemini Consulting's oil and gas practices in the areas of operations excellence and acquisition advisory services. Mr. Knox is an active member in the Society of Petroleum Engineers and is involved with numerous industry organizations.

WILLIAM KEITH GIBBS, CPL
Vice President-Land
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 more than 22 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
Office Manager
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.

JOHN DYER
Senior Manager - Evaluations & Exploitation
John has more than 32 years of industry experience and special expertise in acquisitions and divestments. He joined The Oil &Gas Asset Clearinghouse in the fall of 2003 and has worked as both Reservoir Engineer and Project Manager on a number of divestments from the Gulf of Mexico to the Rockies.

Prior to joining The Oil & Gas Asset Clearinghouse, John served as Senior Engineering Manager with the Oil & Gas Journal Exchange/Madison Energy Advisors, where he was responsible for project reservoir engineering including oil and gas reserve estimation, economic evaluation and organization of support data. Areas of expertise and evaluation have included Texas, offshore Gulf of Mexico, Louisiana, Oklahoma, New Mexico, Rockies states, California and the Appalachian Basin.

From 1992 to 1998, John served as Senior Petroleum Consultant for Wright & Company, Inc. where his responsibilities included oil and gas reserve determinations, economic analyses, prospect reviews, sensitivity studies, and acquisition studies. Previous employers included Transco Exploration Company as Senior Reservoir Engineer, Getty Oil Company as Reservoir Engineer, and Texaco Inc. as Engineer.

John earned a B. S. in Mechanical Engineering in 1973 and an M. S. in Mechanical Engineering in 1975, both from the Tennessee Technological University. He served in the U.S. Army from 1970 to 1972, receiving an honorable discharge in 1972.

ROBERT HAMMONS
Manager – Evaluations and Exploitation
Mr. Hammons joined The Clearinghouse as Manager of Evaluations and Exploitation in October 2007. He began his career in 1978 with Marion Corporation serving as a staff reservoir engineer and later as reservoir engineering manager. He later served as Vice President of Engineering for Middle Bay Oil Company and Renaissance Petroleum Co., LLC. He served as Director of Reserves and Evaluation for J.M. Huber Corporation prior to joining The Clearinghouse. His primary areas of expertise are reservoir engineering and acquisitions and divestitures. Mr. Hammons has also been involved in drilling and production operations in Alabama, Florida, Louisiana, Mississippi, New Mexico, Oklahoma, Texas and Wyoming.

Mr. Hammons is a 1978 magna cum laude graduate from Louisiana Tech University with a B.S. degree in petroleum engineering. He served in the United States Air Force as a technical instructor in computer systems from 1971-1975.

Mr. Hammons is a member of the Society of Petroleum Engineers, Society of Petroleum Evaluation Engineers, National Society of Professional Engineers, and the Louisiana Engineering Society. He is a registered professional engineer in the State of Louisiana.

CORY TALASH
Manager - Negotiated Transactions
Cory Talash joined The Oil & Gas Asset Clearinghouse in January 2005 through the merger with Tristone Capital. He has over 15 years of diverse reservoir and production engineering experience including both managerial and staff level positions. Cory began his career with Mobil E&P in 1991 working various onshore Gulf Coast fields. Until the ExxonMobil merger, he served as a staff reservoir engineer and team leader for the South Texas and South Louisiana Business Units. Upon joining ExxonMobil in 1999, Cory was a planning engineer reporting to senior management. In 2003, Cory worked as a new business development engineer in the area of joint venture characterization and formulation for ExxonMobil’s domestic organization. He then joined Tristone Capital in 2004 as Vice President, Engineering A&D, where he managed the technical development and various marketing aspects of divestiture offerings. Cory is a member of the Society of Petroleum Engineers, and he holds a BS degree in Petroleum Engineering, an MS degree in Petroleum Engineering, and an MBA, all from Texas A&M University.

VERNA M. RAY
Manager - Negotiated Transactions
Ms. Ray joined The Oil and Gas Asset Clearinghouse in October 2007. She has more than 30 years of diverse energy industry experience that began with Texaco and Shell Western E&P, followed by onshore wellsite, prospect generation and prospect sales with independent producers in Houston. In the early 1990s, Verna served as the publisher of Hart's Oil and Gas Investor magazine. Specializing in the energy sector, she was a principal consultant for midstream energy consulting firm, Skipping Stone, Inc. Most recently, she was a negotiated transaction manager with another transaction advisory company. An AAPG Certified Petroleum Geologist since 1981, Verna graduated cum laude with a BS degree in Earth Sciences from the University of Houston.

LINDA GERO
Project Coordinator - Negotiated Transactions
Linda Gero has worked in various positions in the Oil & Gas Industry since 1998. She began with Ocean Energy in the Investor Relations department working on analysts reports, quarterly financial reporting and press releases. She later joined Madison Energy Advisors advancing to the position of Marketing Manager. As Marketing Manager she was responsible for the marketing strategy for all A&D properties and was directly responsible for the closing of these properties. During this time she was also the publisher of Quarterly Pricing Poll, a publication which included oil and gas pricing analysis and marketing information for the A&D market. In 2004 Linda joined White Oak Energy in Business Development where she worked on all acquisition and divestments during her tenure. Linda joined Oil & Gas Asset Clearinghouse in September 2007 working on negotiated sales as a Project Coordinator. Linda has a BA from McNeese State University and is a member of Houston Producers Forum.

LEAH D. STEVENS
Land Manager
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 fifteen years of land and legal experience with emphasis on due diligence and title matters throughout the United States. Ms. Stevens continued her higher education and received her J.D. Degree from South Texas College of Law in May 1992. Ms. Stevens is a member of the State Bar of Texas and Houston Association of Professional Landmen.

ROBERT L. DAWSON
Manager Client Relations - Mid Continent Region
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 fourteen years of professional experience have been within the petroleum industry, ten 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.

JIM HENRY
Manager Client Relations
Mr. Henry is a 1975 graduate of Texas Tech University with a BBA degree in Marketing. He began his career as a Petroleum Landman with Union Oil Company of California in both Houston, TX and Lafayette, LA. He subsequently worked as a principal in the Petroleum Land Management firm of Henry and Sandoz, Inc., the General Manager of Vermilion Bay Land Company, a wholly owned subsidiary of Crystal Oil Company with significant fee holdings in South Louisiana, and the Land Manager of Rozel Energy, LLC an exploration company focused on the Shelf Area of the Gulf of Mexico.

Prior to joining the Clearinghouse, Mr. Henry formed Henry Energy Partners, LLC a group targeting deep gas projects in the coastal parishes of South Louisiana.

He has been a longstanding member and former officer of both the Lafayette Association of Petroleum Landmen and a Certified Professional Landman in the American Association of Petroleum Landmen.

JOHN R. KLEE
Manager Client Relations - Rocky Mountain Region
Mr. Klee graduated from the University of New Mexico and has more than seventeen years of land and managerial experience with several independent oil and gas companies. He is a SEC broker dealer registered representative holding Series 63 and 22 licensing. Mr. Klee is a member of the American Association of Professional Landmen, the Denver Association of Professional Landmen and is a past president of the New Mexico Land Association. He is a board member of the Independent Petroleum Association of Mountain States and serves as State Vice-President for Montana.

KEVIN R. TOWNSEND
Manager Client Relations - Southern Region
Mr. Townsend received his BS in Mechanical Engineering from the University of Texas and has sixteen years experience in the oil and gas industry. He has spent the last ten 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.

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.

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