Aug 19, 2021

Energy Domain serves as oil and gas online marketplace

Energy
Technology
onlinetrading
energystorage
Dominic Ellis
2 min
COVID-19 and slowly recovering oil price have forced buyers and sellers of oil and gas interests to find better ways to sustain deals

Energy Domain is now live, serving as an online marketplace for transacting minerals, royalties, and working interests.

Founded by Ryan Vinson and the 5Ms Technologies team that created MineralWare and Energy Freelance, Energy Domain leverages their oil and gas and technological expertise acquired from designing these existing solutions.

The platform automates listing, evaluating, negotiating, and closing deals by leveraging advanced technology and proprietary data.

"We are seeing a larger percentage of companies that are wanting to transact marketed deals," said Ben Heinzelmann, President of Energy Domain. "COVID-19, combined with a slowly recovering oil price, has forced buyers and sellers of oil and gas interests to find better ways to sustain steady deal-flow while simultaneously cutting G&A to keep overhead low. Energy Domain allows these companies and individuals to effectively meet this challenge."

By integrating mapping, real-time well data, permit data, production data, check stub and JIB data, buyers have all the tools they need to evaluate listings quickly. Sellers can create their own listing in minutes through a guided wizard and have flexible listing options such as "Negotiated Sale" and "Buy Now."

Energy Domain also offers an automated closing process and dashboard. "Beyond just being able to list and evaluate a deal quickly, buyers and sellers don't have to leave the platform to close a deal. All payments, due diligence, deed execution, and closing docs are facilitated directly on the closing dashboard," said Vinson.

Energy Domain plans to launch operated working interests this August along with other features.

Solar prices drop, storage prices rise

EnergySage has released its 13th semi-annual Solar Marketplace Intel Report, which covers evolving pricing, equipment, and consumer preference trends shaping today's US residential solar and energy storage industries.

Quoted solar prices on EnergySage are once again on the decline, dropping over six percent year-on-year. However, quoted prices for storage are on the rise. The median storage price on EnergySage increased 10 percent on a cost per kilowatt-hour basis from Q3 2020 to Q2 2021. 

Enphase overtook both LG Energy Solution and Tesla as the most frequently quoted battery brand on EnergySage. Together, these three brands account for over 85 percent of storage quotes on EnergySage over the last year. Additionally, two newer entrants to the battery market, Q CELLS and NeoVolta, surpassed Tesla as the least expensive battery brands offered on the Marketplace.

"The consumer demand we're seeing for energy storage on our platform is remarkable," said EnergySage CEO and founder Vikram Aggarwal. "It's a rapidly evolving industry. Between supply constraints and shortages, and a growing number of players entering the market, there's bound to be a lot of movement at the top and with respect to price."

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