Helis v. Ward

This is a suit for specific performance of a contract to purchase a mineral lease brought by respondents, as vendors. The contract price was to be determined pursuant to a formula. based upon the production of certain designated wells on the property. That price was fixed at $300,000 “if the average daily production of said wells for a period of fifteen, days after completion is less than 3,000 barrels each, calculated on a %-inch choke according to the methods usually employed in gauging the capacity of oil wells.” In case the production, calculated in that manner, was more than 3,000…