Someone came and knocked on my door wanting to lease my home lot, he said he was representing Dorado, has anyone else heard from them.
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If I had to guess, I'd say this is Paloma with a land company, Dorado?, leasing on their behalf to finish out leasehold where the company looks to drill wells in the not too distant future. Paloma has applied for wells in Township 17 North, Range 14 west. This is in the Shreveport Field and the area of the regional airport.
It would be helpful to know the lease terms offered in order for anyone to provide an opinion.
lee, if your lot is in that area I mentioned, I suggest you see if Dorado will admit to representing Paloma. If Dorado is working on behalf of Paloma, I would personally try to get a somewhat better royalty fraction in exchange for a reduction in the bonus. If you have an average residential lot, we're probably talking something less than $2000. Standard residential lots are normally around a quarter of an acre or less, so $500? In the long run productive wells should make the royalty fraction the main money maker. If a quarter royalty isn't possible, I'd ask for a nine fortieth (22.5%). If your acreage is as small as I think it may be, don't push too far. The lease terms offered are not out of the ordinary. I would avoid leasing to Dorado if the company is not representing Paloma. Instead I would either wait for Paloma to contact me or I would try to contact the company to see if you can get a direct offer. Good luck.
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