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.
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
Executive Vice President - Operations & Business Development
Mr. Barnes joined The Clearinghouse in 1998 and is responsible for managing the company’s ongoing operations and
business development/marketing efforts for all of The Clearinghouse’s business, including Negotiated Sales and Auctions. Prior to joining
The Clearinghouse he spent twenty years with various Tenneco Oil and Tenneco Energy entities in various management positions,
including land, contract negotiations, natural gas marketing, trading and transportation. Mr. Barnes is an SEC broker dealer registered
representative holding Series 63 and 22 licensing. He is an active member of numerous industry organizations including the
Independent Petroleum Association of America, various A&D groups, the American Association of Professional Landmen and other
organizations involving land professionals. Mr. Barnes is currently serving on the Advisory Board for OU’s Energy Management Program
and is a 1976 graduate of the University of Oklahoma with a BBA in Petroleum Land Management.
WILLIAM 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.
Manager - Evaluations & Exploitation
John has more than thirty six 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.
Manager - Evaluations & Exploitation
Mark Janik joined The Clearinghouse in October 2011 as a Senior Petroleum Engineer and was named Manager
Evaluations and Exploitation in November 2012. Mark has twenty eight years of broad petroleum engineering
experience in leadership and extensive technical expertise performing and leading technical teams in asset evaluations of exploration
projects, acquisitions, drilling exploitation programs, risk profile management, reservoir and operational enhancement, SEC reserve
reporting, strategic operational and business planning, budgeting and benchmarking. He has held staff level to officer level positions
and has worked for an engineering consulting company, small private equity backed and large private oil and gas companies and
public independents throughout his career. Geographic areas of conventional and unconventional experience include onshore and
offshore Gulf Coast, Permian basin, Delaware basin, New Mexico, East Texas, North and South Louisiana, Mid-Continent, Anadarko basin,
Texas panhandle, Green River basin, Niobrara, San Juan basin, Uinta basin, DJ basin, Arkoma basin (Fayetteville and Woodford),
Michigan basin. Mark is a 1985 graduate from Texas A&M with a BS in Petroleum Engineering and is an active member of the Society of
Petroleum Engineers (SPE).
Manager - Negotiated Transactions
Mr. Talash joined The Oil & Gas Asset Clearinghouse in January 2006 via the merger with Tristone Capital.
Since joining The Clearinghouse, he engineered and/or managed 40 negotiated transactions with over $2 billion in sales.
Mr. Talash has 14 years of diverse reservoir and production engineering experience, and nine
years of A&D experience resulting
in a unique combination of advanced evaluation and commercial skill sets. Mr. Talash began his career with Mobil in 1991 and
worked the Gulf Coast where he identified development opportunities and executed successful drilling and workover programs.
He served as a Staff Reservoir Engineer and Team Leader for the South Texas and South Louisiana Business Units. Upon the merger
of Mobil with Exxon in 1999, Mr. Talash became a Planning Engineer reporting to senior management and played a key role in
strategic planning, resource allocation, and business analysis. In 2003, Mr. Talash worked as a New Business Development
Engineer in the area of joint venture characterization and formulation for ExxonMobil’s domestic organization. In 2004,
Mr. Talash then joined Tristone Capital as Vice President, Engineering A&D where he managed the technical development and
various marketing aspects of divestiture offerings. Mr. Talash is a member of the Society of Petroleum Engineers, IPAA
and he holds a Bachelor of Science degree in Petroleum Engineering, a Master of Science degree in Petroleum Engineering,
and a MBA, all from Texas A&M University.
PATRICK M. DAPRA
Manager - Negotiated Transactions
Mr. DaPra joined The Oil & Gas Asset Clearinghouse in October 2010. He has more than twenty nine 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, Patrick 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. Patrick worked for various independent
oil and gas exploration and production companies in the accounting and finance areas. Patrick 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 Houston Energy Finance Group.
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 twenty eight
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
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 twenty seven years of professional experience have been within the
petroleum industry, twenty three 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.
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.
Manager Client Relations - Dallas Region
Mr. Morris received his BA from the University of Texas Arlington and has more than
twenty three 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
Manager Client Relations - Southern Region
Mr. Townsend received his BS in Mechanical Engineering from the University of Texas and has thirty three years
experience in the oil and gas industry. He has spent the last sixteen 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.