Oil & Gas Asset Clearinghouse has launched its continuous online auctions service through Clearinghouse Asset Marketing Platform, the Houston-based firm said June 21.

The new service allows flexibility and a range of options, such as proxy bids and bid extensions, for the online sale of working interests, royalties, overrides, leaseholds and other oil and gas assets, according to the firm's press release.

Clearinghouse said it believes its continuous online auctions will set a new industry standard for the online marketing and sale of oil and gas assets.

“The addition of continuous online auctions to our negotiated sales and live hybrid auctions will give our clients a full suite of marketing and sales outlets,” T. Deon Warner, Clearinghouse's president, said in a statement. “Ultimately, this will increase asset awareness, decrease the time from marketing to sale and maximize asset values.”

Clearinghouse is a “one stop shop” for technical services and acquisition and divestiture of oil and gas properties with a network of more than 20,000 buyers and sellers, the firm's release said.

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