Frost Lumber Industries, Inc. v. Union Power Co.

ROGERS, Justice.

On January 12, 1917, the Frost-Johnson Lumber Company, now known as the Frost Lumber Industries, Inc., and the Union Saw Mill Company, conveyed to the Federal Petroleum Company an undivided one-half interest in all the minerals and mineral rights under certain lands of the vendors in the parishes of De Soto, Sabine, Natchitoches, Ouachita, and Union. On the same day the parties entered into a joint operating contract providing for the development by any one of them of any part of the land conveyed.

On October 15, 1917, the Union Saw Mill Company sold to the Frost-Johnson Lumber…