Raydon Exploration, Inc. v. Ladd

SAFFELS, District Judge.

This diversity jurisdiction case arises from an agreement involving oil and gas development on two sections of land. After a two day court trial, the United States District Court for the Western District of *1498Oklahoma1 found that the defendants-appellants Frank A. Ladd and Dudley R. Stanley, d/b/a H & L Operating Co. (H & L) failed to perform an express condition of its agreement with plaintiff-appellee Ray-don Exploration, Inc. (Raydon). Therefore, the district court granted Raydon’s request for equitable relief rescinding the agreement and further ordering Raydon to…