Burbank v. Sinclair Prairie Oil Co.

Opinion of the Court by

Morris, Commissioner

Reversing.

Burbank, owner of a large tract of land in Henderson County, on April 8, 1942, leased to parties the exclusive right “to drill for and produce oil” for a stated period. The consideration was “the equal of % part of all oil produced and sold from the leased property. ’ ’ The lease was later assigned to appellee who began operation and found oil in commercial quantities. In a petition seeking declaration of rights the above facts were set out, and it appears that up until the filing of suit lessee in settling with lessor had deducted % of the…