Ryan Vinson, co-founder of the fast-growing Fort Worth-based MineralWare platform that mineral owners can use to manage their holdings, has launched a new online marketplace for the purchase, sale and lease of minerals and royalties.
Vinson and partner Nathan McIntyre co-founded Energy Domain with investor Larry Brogdon, Vinson said in an interview Tuesday morning, following the firm’s announcement of its launch. Brogdon is an investor in MineralWare. McIntyre teamed with Vinson to launch Energy Domain, but is not a participant in MineralWare.
Energy Domain’s headquarters are in the Fort Worth Club Tower next to the offices of MineralWare, the tower’s largest tenant. Vinson and partners launched MineralWare more than five years ago, building an easy-to-use platform and rapidly expanding into the arcane space. MineralWare hasn’t disclosed sales, but said this fall it’s hit a target it set in 2017 to reach $250,000 in recurring monthly revenue.
“We think this (Energy Domain) is a big deal,” Vinson said Tuesday. “It’s got a lot of potential, even moreso than MineralWare.”
Energy Domain and MineralWare share resources, Vinson said. Energy Domain has a team of seven people, including two people who also work for MineralWare, Vinson said.
Vinson had hinted for months that he was about to enter a new space with a new firm. The Energy Domain site offers interest owners three choices: “Buy Now,” “Auction,” or “Continously List” their property. The site offers mineral owners tools they can use to determine what their interest is worth. “The entire due diligence and transaction process can be completed online,” Energy Domain said in a release Tuesday.
“Historically, mineral owners sold for less than their potential value simply because there wasn’t a marketplace available to gain industry-wide exposure McIntyre, Energy Domain’s president, said. “Owners would sell to almost anyone who tracked them down and made an offer, oftentimes in person or through the mail. Our platform puts the owner in the driver’s seat, allowing them to test the market and determine how and when to sell.”