The amount of the deal was not disclosed.
The company intends to use the funds to further expand its position in oil and gas acquisition and divestiture (A&D) services and the online energy marketplace.
Led by Bill Britain, CEO and Chairman, EnergyNet operates a web-based platform that provides sellers with the opportunity to reach nearly 20,000 unique bidders across the U.S., creating competitive dynamics and efficiencies. Its synchronized information is accessible through the online portal, giving providing the opportunity to conduct their acquisition and divestiture (A&D) activity anywhere they need.
Clients include major oil and gas companies, large independents, bank trust departments, foundations, churches, universities and high-net-worth individuals.
In addition, the company is the exclusive online provider for the U.S. Bureau of Land Management and seven other state land agencies to market their oil and gas leases and other minerals using EnergyNet’s auction and sealed bid platforms.