Johnston v. Cole

WILLIAMS, Justice.

This suit involves the interpretation of three conveyances, each in identical form, except that different tracts of land in the same area in Gregg County are affected. These were executed March 10, 1932, by M. T. Cole and wife as grantors, herein referred to as defendants. In each instrument defendants reserved an overriding royalty on oil and gas produced, in terms reading:

“It is further provided, understood and stipulated that the grantors reserve unto themselves, and shall retain and have ⅝2 of all the oil, gas and minerals produced from the said land as a perpetual…