Josey Oil Co. v. Ledden

BAYLESM, ,1..Tosey Oil Company, a corporation, and Margay Oil Corporation, a corporation, the owners of a certain lease in Hughes county. Okla., entered into a contract with George B. Orr Drilling Company, a corporation, by which the latter was to drill a well upon the lease to a depth of approximately 3,400 feet, unless a producing well was brought in at a lesser depth. For this the drilling company was to be paid $4 per foot if and when the well was completed, hut it was not to be paid anything if it did not complete the well. The lease owners hound themselves by this contract lo furnish…