British-American Oil Producing Co. v. Buffington

What the parties to it intended as a protective arrangement between joint venturers, owners of oil properties, to insure that the drilling development would be competently done and at a reasonable price, has, I think, been turned by the judgment below and its affirmance here into a contrivance by which appellees have ' obtained their share of production without paying their share of the drilling costs. If I could agree with the majority that the provisión that appellees are to have the “preference of all future drilling operations at the prevailing contract price”, was sufficiently definite…