Carr v. McGinley Corporation

HALL, Justice.

Appellant and appellee in March, 1932, purchased oil leases covering two 40-acre blocks of land in Zapata county, thought to be oil-bearing, for a consideration of $9,000. After the purchase of said oil leases and on March 17, 1932, they entered into a contract with one Joe M. Gier to drill well No. 1 on said land for a consideration of $2,750. A short time after completion of well No. 1, believed to be an oil producer, well No. 2 was begun by the same drilling contractor for a like consideration and was completed as a dry hole. Well No. 2 was drilled to a greater depth than…