Tech-Enabled Upstream Oil & Gas Acquisition & Divestiture Platform for Asset Deals Valued $20MM to $250MM+

Innovative Refined Approach

EnergyNet Indigo is a technology-enabled platform tailor-made for upstream and midstream energy companies. Indigo offers a complete range of asset divestiture capabilities and strategic advisory services. Our A&D professionals' deep industry relationships and unparalleled market intelligence, combined with our in-house engineering, geology, and commercial expertise have resulted in the successful execution of billions of dollars of U.S. oil and gas asset transactions over the last 20 years. We know that every client mandate requires a hands-on, customized approach and that is exactly what we provide.

Quality Through & Through

EnergyNet Indigo drives superior outcomes for our clients by following our differentiated formula to achieve a successful transaction.

  • Unparalleled market insight and real-time A&D activity
  • Established upstream deal knowledge
  • Access to the industry's largest community of oil, gas, mineral, and energy buyers
  • Seasoned technical team of petroleum engineers and geologists
  • Leading-edge analytics to understand the asset
  • Comprehensive data rooms and management presentations
  • Seamless, customized, and battle-tested competitive selling process
  • Expert negotiation of assets with best terms for a timely closing

Current Opportunities

Stone Hill Minerals Holdings, LLC
SW Appalachia Marcellus & Utica Shales
Oct 13 2022 4:00 PM

Certain oil and gas properties and related assets located in the SW Appalachia - Marcellus & Utica Shales (the "Properties") are being offered by Stone Hill Minerals Holdings, LLC (the "Seller"); EnergyNet has been retained by the Seller as the exclusive advisor to assist with this transaction.

  • 457 Producing Net Royalty Acres
  • 63 PDP Wells
  • 13 DUCs
  • 47 PUDs
  • 6-Month Average Free Cash Flow: $213,993/Month
  • 6-Month Average 8/8ths Production: 394,258 MCFPD and 903 BOPD
  • 6-Month Average Net Production: 1,240 MCFPD and 2 BOPD
  • Operators:
    • Antero Resources
    • Northeast Natural Energy
    • Range Resources
    • Southwestern Energy
    • CNX Resources
YTEF Non-Op Capital, LLC an affiliate of Millennial Energy Partners
Sep 15 2022 4:00 PM

Certain oil and gas properties and related assets located in Webb County, Texas (the "Properties") are being offered by YTEF Non-Op Capital, LLC an affiliate of Millennial Energy Partners (the "Seller"); EnergyNet has been retained by the Seller as the exclusive advisor to assist with this transaction.

  • Non-operated WI in 6 wells
    • WI 50% / NRI ~38%
  • Last 5-month average following successful workover and gathering overhead:
    • Net production of 3,487 Mcfpd, 124 bopd, and 482 bnpd
    • Net operating income of $1.27 MM/mo
    • Lifting cost of $0.14/Mcfe
    • Decline rate of 0.2% (May-July 2022)
  • Production primarily sourced from the Eagle Ford Shale and Austin Chalk reservoirs
  • Stable and significant natural gas resource with attractive forward pricing
  • Favorable field level gathering and compression agreement in place with a primary term through May 31, 2031
  • Tag rights to SM asset-level exit
Undisclosed Seller
Delaware / Midland Basins - Mineral/Royalty
Jul 28 2022 4:00 PM

Certain oil and gas properties and related assets located in the Delaware / Midland Basins - Mineral/Royalty (the "Properties") are being offered by Undisclosed Seller (the "Seller"); EnergyNet has been retained by the Seller as the exclusive advisor to assist with this transaction.

  • Asset Highlights:
    • 277 NRA (70% Delaware / 30% Midland)
    • Averaging ~4 rigs and ~1.5 completion crews YTD
    • Mewbourne and EOG operated ~51% of the asset
    • Immediate cashflow with 20%+ annual growth
      • Next 12 mo. CF: $2.9MM
      • Next 36 mo. CF: $10.8MM
      • 10 yr. CF (PDP+Permits): $20.5MM
  • Remaining Undeveloped Inventory:
    • Drilled: 253 | Permitted: 175 | Undeveloped: 1,039
  • Cash Flow Profile:
    • Accrued free cash flow is based on the production date of the income-producing wells, and the production month's historical commodity prices
      • Accrued monthly cash flow has averaged ~$315,000 / month over the last 3 months (April-June 2022)
    • $2.9MM of NTM cash flow is expected
      • ~73% of the NTM cash flow is contributed by PDP wells
White Knight Production I, LLC
Jul 21 2022 4:00 PM

Certain oil and gas properties and related assets located in Jack, Palo Pinto, Parker, and Wise Counties, Texas (the "Properties") are being offered by White Knight Production I, LLC (the "Seller"); EnergyNet has been retained by the Seller as the exclusive advisor to assist with this transaction.

  • Asset Highlights:
    • 7.1 MMcfed Current Net Production, 60% Liquids
    • $1,034 M 3 Mo. Average Monthly Operating Income
    • 31,112 Net Acres, 99% HBP
    • Average 99% WI / 77% NRI
  • Stable Cash Flow from Efficient Operations:
    • $18.3MM NTM Cash Flow
    • 6 Mo. Average Netback $4.46 / mcfe
    • 230 Operated Wells
    • Full-field Gas Gathering and SWD Systems in Place
    • Minimal Near-Term Abandonments
  • Executable Development with Strong Returns:
    • One-rig Development Fully Funded with Existing Cash Flow
    • 69 PUD Locations with >75% IRR
    • Impactful Inventory of Uphole Recompletions to Established Zones Totaling $35 MM PV-10
Kaiser-Francis Oil Company
Arkoma Basin
Apr 12 2022 4:00 PM

Certain oil and gas properties and related assets located in Various Counties in Arkansas and Oklahoma (the "Properties") are being offered by Kaiser-Francis Oil Company (the "Seller"); EnergyNet has been retained by the Seller as the exclusive advisor to assist with this transaction.

  • Robust Operated Opportunity
    • Ability to acquire high quality operated horizontal Woodford assets with strong cash flow and significant infill drilling opportunities in the Mayes and Woodford
    • Total PDP NTM cashflow of $9.1 MM, of which $5.1 MM is operated at March 1st pricing (83% horizontal)
    • Highly economic, largely contiguous acreage position ~160,700 gross and ~27,800 net acres
  • Significant De-Risked Upside Potential
    • Ample Infill drilling potential in both the Mayes and Woodford
    • Meaningful acreage position in de-risked Woodford and Mayes plays
  • Strong, Consistent Cash Flow
    • Total PDP NTM cashflow of $9.1 MM, of which $5.1 MM is operated at March 1st pricing (83% horizontal)
    • Robust PDP PV10 of $46.7 MM at March 1st pricing (59% operated)
  • Low Decline, Stable Production
    • Stable net production of ~9.8 MMcfepd (~98% gas) LTM average
  • Attractive Non-Operated Opportunity
    • Non-Operated PDP NTM cash flow of $4.0 MM at March 1st pricing (89% horizontal)
    • Experienced operators including Merit, BRG Energy, Mustang Fuel, and XTO

Successful Transactions

Undisclosed Seller
Louisiana Opportunity
Offshore (GOM)

June 2022

Overriding Royalty Interest

Arkoma Drilling II, LP
Permian Opportunity
Delaware Basin

April 2022

Non-Operated Working Interest

Arkoma Drilling II, LP
North Dakota Opportunity
Williston Basin

April 2022

Non-Operated Working Interest

HRM Resources III, LLC
Greater Green River Basin Opportunity
Colorado and Wyoming

March 2022

Operations

Non-Operated Working Interest

Overriding Royalty Interest

Leasehold Acreage

EnerVest Energy
Utica Shale Opportunity
Ohio and Pennsylvania

February 2022

Non-Operated Working Interest

Overriding Royalty Interest

Leasehold Acreage

Chevron U.S.A. Inc. and Chevron MidContinent, L.P.
Andrews / Parker Field Opportunity
Texas

Operations

Royalty Interest

HBP Leasehold

Mineral Fee

Comstock Resources
Bakken Shale Opportunity
North Dakota and Montana

Non-Operated Working Interest

Chevron U.S.A. Inc. and Chevron Midcontinent, L.P.
Eunice / Hobbs Field Opportunity (Permian Basin)
New Mexico

Operations

Non-Operated Working Interest

Royalty Interest

Leasehold

Mineral Fee

XTO Energy Inc.
Permian Basin Opportunity
Texas

Operations

Leasehold Acreage

Chevron U.S.A. Inc., et al
Carter Knox Field Opportunity
Oklahoma

Operations

Non-Operated Working Interest

Royalty Interest

Parsley Energy
Big Tex Opportunity
Texas

Operations

Leasehold Acreage

Chevron U.S.A. Inc. and Union Oil Company of California
Van Field Opportunity
East Texas

Operations

Non-Operated Working Interest

HBP Leasehold

Mineral Fee

Chevron Corporation
Jo-Mill / Spraberry Fields
Texas

Operations

Leasehold

Borden and Dawson Counties, Texas

XTO Energy Inc.
Eagle Ford / Austin Chalk Opportunity
Texas

Operations

Non-Operated Working Interest

Royalty Interest

Overriding Royalty Interest

Victerra Energy, LLC
Permian Basin / Wolfcamp Shale
Texas

Operations

Leasehold

Reeves County, Texas

XTO Energy Inc.
Uinta Basin Opportunity
Utah

Operations

Non-Operated Working Interest

Overriding Royalty Interest

Noble Energy, Inc.
Permian Basin
Texas

Royalty Interest

Overriding Royalty Interest

Non-Producing Royalty Interest

Various Counties in Texas

ConocoPhillips
Permian Basin Opportunity
Central Basin

HBP Leasehold Acres

Ector County, Texas

31 Offshore LLC
Neptune Field Opportunity
Offshore / Louisiana

Non-Operated Working Interest

ConocoPhillips
Rockies
Powder River Basin

Unconventional

Non-Producing Leasehold

Johnson and Campbell Counties, Wyoming

Chevron Corporation
Mid-Continent
Central Oklahoma

Waterflood

Operations

Stephens County, Oklahoma

Market Insight Through In-Depth Experience

EnergyNet Indigo is known throughout the industry for consistent deal execution.

EnergyNet Indigo's A&D professionals have an in-depth understanding of today's energy market environment, including key drivers in acquisitions and divestitures, public markets, and commodities. This expertise ensures that all clients are well prepared to evaluate strategic alternatives and make fully informed decisions regarding the path forward for their company.

The EnergyNet Indigo team has experience advising a wide range of companies, including major oil companies, large-cap independents, and private equity sponsors and their portfolio companies. We speak the language of highly technical oil and gas operators and their financial partners.

Analyzing assets, packaging them for sale and running a competitive, fair, structured marketing process all require a significant investment of time and A&D expertise. Working with EnergyNet Indigo enables executive management to focus on other important areas of running a business while the Indigo team works to achieve the highest possible value and best terms for a timely closing.

Our Technical Process

EnergyNet Indigo drives superior outcomes for our clients by following our differentiated formula to achieve a successful transaction.

  • Evaluation engineers and geologists work with the seller to understand the asset prior to the sale
  • Further research is conducted on the asset, the basin, lateral length, proppant per foot, type curve analysis, offset activity, etc.
  • An executive summary/development road map is created to serve as the asset summary
  • The data room presentation is built and shared with prospective buyers (A one to two hour meeting to walk through the asset attributes is encouraged.)
  • Business development and marketing teams reach out to qualified, screened buyers to proactively set up technical meetings

Technical Analysis Services

The Indigo team uses PHDWin, Aries, Spotfire, Enverus Geologic Overviews, Subsurface Analytics, Operator Intelligence, and other proprietary tools to support the valuation and to perform:

  • In-depth reviews of single well economics
  • Detailed reviews of completion metrics
  • Expert analysis of type curves based on year, completions, lateral length, spacing, and proppant per foot
  • Detailed comparisons between operators, reservoirs, fields, and stratigraphic columns for the asset area
  • Creation of engineering reserves databases which calculate and verify lease expense data, shrinks, yields, differentials, and ownership

Our Sales Process

  • Analyze properties for divestiture and develop marketing and technical strategies designed to achieve seller's goals
  • Identify, collect, and organize information needed to prepare offering materials
  • Facilitate, with input from seller, the finalization of engineering including evaluation of upside value
  • Establish timeline goals and identify sale issues
  • Advise on market value estimates based on final engineering/geologic overview, commodity price environment, A&D market activity, and timing assumptions
  • Draft marketing materials, information memorandum, and organize data for data room management presentation
  • Distribute executive summary teasers and promotional materials for broad market exposure
  • Contact select high-impact potential buyers to gauge interest level and ensure offering attention (Subject to seller's prior consent)
  • Coordinate the distribution of confidentiality agreements (in a form provided and approved by Seller) to each potential buyer prior to the receipt of any confidential seller information
  • Manage buyer activity throughout marketing and assist with buyer data needs and information requests
  • Create buyer competitive tension
  • Receive offers and advise seller on companies placing offers and the merits of those offers
  • Facilitate negotiation of offers in collaboration and with guidance from the seller
  • Provide buyer due diligence, PSA negotiation, and consummate closing and funding by buyer and seller

Deal Execution Team

Chris Atherton

Chief Executive Officer and President EnergyNet, Inc.

Chris Atherton is the Chief Executive Officer and President of EnergyNet, Inc, a technology-enabled upstream oil and gas asset acquisition and divestiture platform specializing in auction sales, sealed bid transactions, and government lease sales. He offices in downtown Houston, Texas.

Chris has been part of the EnergyNet team since 2002. He has been actively involved as the firm has completed over $7B in transactions including sell-side mandates from thousands of Exploration and Production clients. Chris leads a multi-disciplinary team of 50 professionals specializing in engineering, geology, land, technical, business development, marketing, IT, and administration. Chris has 20 years of experience in the energy industry. He graduated from Texas State in San Marcos with a business management and marketing degree. Prior to EnergyNet, Chris worked at the Enron Corporation in Houston, Texas.

He recently served as the Chairman of the Wildcatter's Host Committee for the Texas Alliance of Energy Producers and served as the Chairman for the SPE-Gulf Coast Section Business Development Study Group for three years. Chris is also an active member of the IPAA, Texas Energy Alliance, ADAM Houston, ADAM Permian, and Houston Producer's Forum.

Chris holds FINRA Series 63, 22, and 39 licenses.

Check the background of this investment professional on FINRA's BrokerCheck.

Denna Arias

Executive Director - Acquisitions and Divestments EnergyNet, Inc.

Denna joined EnergyNet in 2017 to work with the Business Development team. In January 2020, she took on the role of Executive Director - Acquisitions and Divestments. In this role, Denna is the liaison between the nationwide business development team and EnergyNet's technical team (petroleum engineers, geologists, financial and GIS analysts) to accelerate EnergyNet's strategic initiatives and align company resources to deliver superior results for client success. Denna offices in downtown Houston, Texas.

Prior to joining EnergyNet, she also served as Vice President of Business Development, Business Development Manager and Transaction Manager from 2000-2017 at an oil and gas brokerage firm where she was personally involved with the transaction team closing over ten billion in asset sales. She began her career in E&P working with Engineering, Land & Finance at Swift Energy Company (Silverbow Resources, Inc.) and DDD Energy, a division of Seitel Inc.

Denna holds a BBA in Business Management from LeTourneau University, and a Petroleum Land Management Certification from University of Houston Energy Management.

She is a member of American Association of Professional Landmen (AAPL), HAPL, IPAA, HPF, and TIPRO.

Denna holds FINRA Series 63 and 22 licenses.

Check the background of this investment professional on FINRA's BrokerCheck.

Keith Ries

Managing Director of Engineering EnergyNet Technical Team

Keith joined EnergyNet in 2019 and heads up the EnergyNet Indigo Technical Development team. His team works in conjunction with the Business Development and Transaction management teams focusing on evaluations, proposals, data room and executive summary presentations for EnergyNet's higher valued Indigo assets. Keith offices in downtown Houston, Texas.

Keith has a Bachelor of Science degree in Petroleum Engineering from The University of Texas at Austin. Prior to joining EnergyNet, Keith served in multiple capacities ranging from reservoir, operations, and production engineering along with corporate reserves, strategy, and business development. Keith has worked for Linn Energy, Aurora Oil & Gas, Pressler Petroleum Consultants, and ConocoPhillips. His experience spans the Lower 48 on both conventional and unconventional assets.

Keith is a member of SPE, IPAA, and HPF.

Jonathan Kalkan

Director of Technical Evaluations EnergyNet Technical Team

Jonathan joined the EnergyNet team in 2021 and currently serves as the Director of Technical Evaluations in EnergyNet's technical department. He offices in Downtown Houston, Texas.

Jonathan has a Master's in Business Administration from the University of Houston Victoria and a Bachelor of Science degree in Finance with a minor in Economics from LeTourneau University. Prior to joining EnergyNet, Jonathan worked in Energy Investment Banking on the A&D Groups of BMO Capital Markets, PJ Solomon, and Barclays. He has $13B+ in publicly closed transaction value in conventional and unconventional upstream A&D, corporate M&A, midstream, and minerals and ORRI. His experience spans Lower 48 and Alaska on both conventional and unconventional assets.

Reilly Bliton

Director of Engineering EnergyNet Technical Team

Reilly joined the EnergyNet team in 2022 and works with the Business Development and Technical teams focusing on asset evaluations and transaction management for EnergyNet's high value Indigo assets. Reilly offices in downtown Houston, Texas.

Reilly began his career at as a Petroleum Engineer with ExxonMobil where he held several Reservoir Engineering and Strategic Planning positions. Reilly joined Evercore's Energy Group in 2011 as an Investment Banker in the firm's oil and gas Acquisitions and Divestitures practice. While at Evercore, Reilly advised clients on more than $25 Billion of oil and gas transactions including asset purchases and sales, strategic joint ventures, corporate mergers, fundraising and restructuring. Reilly has an undergraduate degree in Mechanical Engineering from NC State University where he graduated summa cum laude and a MBA from Rice University. Reilly is a licensed Professional Engineer in the state of Texas.

Ankita Sinha

Technical Analyst/Petroleum Engineer EnergyNet Technical Team

Ankita joined EnergyNet in 2018. She works with the Business Development and Technical teams creating asset evaluations, proposals, data room and executive summary presentations. She offices in downtown Houston, Texas.

Ankita received her Master of Arts degree in Petroleum Engineering from University of Oklahoma. She began her career at Halliburton in the Drilling & Completions/Well Services division as a Cementing Engineer.

Ankita is an active member of the Society of Petroleum Engineers and currently serves as the secretary for Firm Speakers Toastmasters.

Ethan D. House

Managing Director Mid-Continent/Texas Panhandle/Northern LA/Western U.S.

Ethan joined EnergyNet in 2002. Ethan is the Managing Director for the Mid-Continent, Texas Panhandle, Northern Louisiana, and Western U.S. regions. He offices in downtown Oklahoma City, Oklahoma.

He graduated from West Texas A&M with a Bachelor of Science in Mass Communications/Marketing and Advertising. Ethan works closely with EnergyNet clients to answer listing questions, review asset divestment packages and marketing strategy as well as general client inquiries.

Ethan currently serves on the Board of the Petroleum Alliance of Oklahoma, Advisory Committee of the ADAM-OKC (Acquisition, Divestment & Mergers) chapter and is a member of the following organizations: AAPL, PAPL, OCAPL, CIPA, Panhandle Producers and Royalty Owners Association (Past Board Member), Texas Alliance of Energy Producers (Past Board Member), IPANM, Wildcatters Club, Mid-Continent Oilmen's Invitational (Current Board Member), Oklahoma Energy Explorers, National Auctioneers Association and the Texas Auctioneers Association. Ethan also volunteers as a guide with the Oklahoma Youth Hunting and Shooting Program and is a Board Member of the Oklahoma Wildlife Conservation Foundation.

He holds three FINRA licenses, 63, 22, and 39. Ethan is also a licensed Texas Auctioneer - Texas Auctioneer #16676.

Check the background of this investment professional on FINRA's BrokerCheck.

Cody Felton

Managing Director Houston/Eastern States

Cody joined EnergyNet in 2012. He is the Managing Director for the Gulf Coast region as well as the Eastern States region. Cody offices in downtown Houston, Texas.

Cody is a Veteran of United States Coast Guard where he served in Washington D.C. in the Presidential Honor Guard and in Houston Texas as a regulatory agent. He graduated from West Texas A&M University in 2004 with a Criminal Justice Degree. He also holds a Master of Business Administration degree from American Military University. Prior to joining EnergyNet, he worked for O'Brien's Response Management as a Project Manager in the regulatory consulting division.

He is the Past Chair for the Society of Petroleum Engineers - Gulf Coast Section BD Group and a member of IPAA and LOGA.

Cody enjoys spending time fishing in Galveston with his family.

Cody holds FINRA Series 63 and 22 licenses.

Check the background of this investment professional on FINRA's BrokerCheck.

Lindsay Ballard

Managing Director Permian Basin/Western U.S.

Lindsay joined the EnergyNet team in 2013. She is the Managing Director for the Permian Basin and Western U.S. territories for EnergyNet. She offices in Midland, Texas.

She graduated from the University of Texas at Austin with a Bachelor of Science degree in biochemistry and spent two years studying chemical engineering.

Lindsay is an active member of the Petroleum Club of Midland, The Junior League of Midland, Young Professionals in Energy - Midland, Women in Energy Network - Permian Basin, Permian Basin Landman's Association, and Permian Basin Petroleum Association. She serves as a board member for both the Ladies of the Petroleum Club of Midland organization and Go Red for Women, a luncheon benefitting the American Heart Association. Lindsay is the Chairman for IMPACT, a Junior League of Midland community outreach program that mentors freshman females at Midland Freshman High School.

Lindsay holds FINRA Series 63 and 22 licenses.

Check the background of this investment professional on FINRA's BrokerCheck.

Emily McGinley

Director of Business Development Mid-Continent/Texas Panhandle/Northern LA/Western U.S.

Emily joined EnergyNet in 2018. She serves as EnergyNet's Director of Business Development for the Mid-Continent, Texas Panhandle, Northern Louisiana, and Western U.S. regions. She offices in downtown Oklahoma City, Oklahoma.

Emily graduated from the University of Oklahoma in 2008 with a Bachelor of Science degree in Business Administration in Energy Management. She began her career as a Landman specializing in Mid-Continent asset development for Devon Energy Corporation. After five successful years in Land, Emily transitioned to Devon's Acquisitions and Divestitures group where she spent another five years. During her tenure in A&D, Emily was involved with multiple transactions, covering assets in several basins - the value of which exceeded fourteen billion dollars.

Emily is an active member of Oklahoma Energy Explorers, OIPA, Oklahoma City Association of Petroleum Landmen, American Association of Professional Landmen, and ADAM-OKC.

Emily holds FINRA Series 63 and 22 licenses.

Check the background of this investment professional on FINRA's BrokerCheck.

Zach Muroff

Managing Director Dallas / Fort Worth & East Texas

Zachary joined the EnergyNet team in 2020. He is the Managing Director for the Dallas-Fort Worth/East Texas area. He offices in the DFW area.

Zachary graduated from the Frank G. Zarb School of Business at Hofstra University in 2006 with a BA in Finance and Business Management. For the past twelve years, he has worked with startups and global software companies in a number of sales and business development roles.

In his free time, he can be found spending time with family and friends, traveling, cheering for Boston sports, trying new foods, and volunteering for community organizations.

Zachary serves on the Steering Committees for ADAM Permian and ADAM Rockies.

Jewell Arias

Buyer Relations / Transactions Manager

Jewell joined the EnergyNet team in 2022 and currently serves as the Buyer Relations / Transactions Manager in EnergyNet's business development department. She offices in Downtown Houston, Texas.

Jewell graduated from Texas A&M University with a Bachelor of Science degree in Human Resources Development and is currently pursuing her Master of Business Administration at the University of Houston. She brings with her over 10 years of experience in the Oil and Gas Industry. Jewell began her career in Human Resources for FMC Technologies. After two years in HR, Jewell joined the Business Development team for TechnipFMC Subsea division and was involved in numerous multi-million-dollar contracts. Her success followed her at FlexSteel Pipeline Technologies, where she led the International Proposal team, participated in high level transactions, and was recognized as a top performing employee.

She is passionate about providing value and trust to each of EnergyNet's clients.

Jewell is a native Texan from the Rio Grande Valley. She enjoys spending time with her husband, Giovanni and her goldendoodle Roo, and can be found traveling, visiting new restaurants and volunteering at her local church.