What safeguards does EnergyNet have in place to make sure Operated Properties are sold and conveyed to reputable operators?
EnergyNet offers a secure system for collecting information and vetting operators prior to accepting bids for operated properties. Step 1: Operator Information Collection When bidding on an operated property, the potential buyer provides the name of the operating company (or contract operator company if applicable), the states that the company is licensed to operate in, and the operator number(s). The potential buyer must assert they understand paragraph 4 of the EnergyNet Buyer’s Agreement and that they will provide operator bonds and certificates prior to closing. EnergyNet maintains a record of all submitted information, including the password verified identity of the potential buyer as well as the time the information is submitted. Step 2: Verification and Seller Approval After the auction has ended and the winning bidder has been determined, the bidder will be required to fax EnergyNet a copy of their operator bond and certificate/license. EnergyNet will then use their previously
