FOSTER, Circuit Judge.
Defendant in error, hereafter called defendant, was the owner of certain oil leases on land in Caddo parish, La., which obligated it to drill wells and to develop the property and pay royalties to the owners of the land. A number of paying wells had been brought in, and defendant entered into a written contract with Cockerham and Blackstock to operate the property for 75 per cent. of the residue of the oil produced after paying the royalties...
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