Registration Requirements

Registration Requirements

Obtaining a Clearinghouse Account

Interested parties must apply with Clearinghouse. Once the online application is submitted you will receive your credentials via email to access the portal. Included in this email is a link to verify your email address. You must verify your email address to complete your application. You will have limited access within the auction portal until your application is reviewed and approved. Once approved you will be notified and granted full access to the auction portal.

Clearinghouse reserves the right, at its sole discretion, to refuse any application, for any reason whatsoever.


Obtaining A Bidder Number

To participate in any Auction, Account Holders must obtain a Bidder Number for each event.

IMPORTANT: Entity Name should be filled out exactly as you plan to take record title to any properties purchased. If you plan to purchase properties in more than one entity name, you must register each entity separately.

Once a Bidder has completed and submitted the proper documentation, Clearinghouse will review and activate your account for the auction. You may then join the Auction by logging in with your Clearinghouse credentials. Once you open the Bid Window, you will see your assigned Bidder Number.

Clearinghouse, at its sole discretion, reserves the right to deny any or all registration applications and to refuse any party access to bid on any properties for any reason whatsoever.

Clearinghouse's Auctions and Negotiated Sale Processes and any written materials associated therewith are not a public offering. The use of this website is intended for use by selected parties who are knowledgeable, sophisticated and actively engaged in the oil and gas business, and are fully aware of the risks and liabilities inherent with the ownership of oil and gas properties. The information contained herein does not constitute an offer or solicitation to purchase or offer, or solicitation to sell to any person in any state where the laws of such a state prohibit such offers, or in which Clearinghouse is not a broker-dealer. To the extent required by Texas state law, some potential bidders may be required to be "accredited investors." All potential auction bidders must be accredited investors.


Submit A Bank Letter

A bank letter (on bank letterhead) is required for all Bidders paying by check or wire transfer. Bank letter(s) must be delivered to Clearinghouse prior to Bidder Registration Activation.

Bank Letters Must:

  • identify the name of the entity taking title;
  • provide the banking information required on the Bidder Registration form;
  • include a statement from the bank that it will guarantee payment (either by bank guarantee, or irrevocable letter of credit) on any check presented to Clearinghouse up to a specified dollar amount (the maximum amount of your anticipated purchases at the sale);
  • define the time period the check will be honored (not less than ten -10- days after the sale).

NOTE: Payment by cashier's check does not require a bank letter.

After approval, you are ready to join the Auction. Remember, however, that separate registrations with unique Client IDs and passwords require documentation for each entity registered.

NOTE: Clearinghouse's Auctions and Negotiated Sale Processes and any written materials associated therewith are not a public offering, but is limited solely to accredited investors approved at the sole discretion of Clearinghouse.