Midland Gas Corporation v. Reffitt

Opinion op the Court by

Judge Fulton

Affirming.

On June 20, 1930, the appellee, Thomas Reffitt, ■execnted to the appellant, Midland Gas Corporation, an oil and gas lease on 273 acres for a primary term of two years and as much longer as oil or gas was produced in paying quantities from the property. The gas royalty provision was one-eighth of the sale price for all gas .sold and marketed from the premises payable monthly at a rate of not less than one and a half cents per thousand cubic feet. The lease contained this provision:

“Lessee agrees to commence a well on said premises within thirty days…