A. C. Kinnison to Field & Young - Oil Lease

On 17 Oct 1864, A. C. Kinnison signed a ten year lease with R. H. Field and B. R. Young to drill for oil on his land. The lease was cancelled 30 Aug 1871 by Field and Young, likely indicating a lack of success.

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Bullitt County Deed Book P, Pages 541-542

This is to evidence a contract and agreement of lease entered into this 17th day of October 1864 between A. C. Kinnison of Bullitt County State of Kentucky of the first part and R. H. Field and B. R. Young of the second part.

The parties of the second part proposing to bore for oil and other products on the lands of the party of the first part grants unto them, the parties of the second part, and to their heirs and assigns for the term of twenty (20) years from and after the execution of this instrument full and exclusive privilege to excavate, dig and bore on the lands now owned by him on the waters of Salt River conveyed to him by Lampton heirs and from his father & conveyed by William P. Johnson and supposed to contain about 537 acres.

If said parties of the second part should so bore and be successful by their labor and outlay of money in procuring oils or other valuable property they hereby agree to pay to the parties of the first part, his heirs five (5) per cent of the profits of the enterprise to be paid in kind or of the proceeds when disposed of; payments to be made as the products are realized or disposed of as the parties may hereafter agree.

If the parties of the second part abandon the enterprise within said term because unprofitable, the privilege of lease hereby granted is to cease.

The parties of the second part bind themselves, their heirs and assigns that they will do nothing in the prosecution of their work that will interfere with, hinder or obstruct the party of the first part in his farming operations and if they should conceive it t be the interest of the parties to excavate or bore on any lands fit for cultivation they are before doing so to pay to the party of the first part a fair compensation for the use of the land, to be ascertained if the parties cannot agree, by the arbitration of an impartial and disinterested person to be selected by each of the parties hereto.

It is expressly understood that the privilege hereby granted embraces only the right to excavate and bore, and a right of way to and from the points excavated and bored.

For all timber and material used off the land (and none is to be used but with the consent of the party of the first part), a fair compensation is to be made. (signed by both parties)

[margin note] The privileges granted by A. C. Kinnison to Field and Young named in this deed or lease of boring for oil and all other privileges given and encumbrance by this levy created on the land of A. C. Kinnison herein named is hereby released and this paper, deed or lease is hereby cancelled, this done by written authority given to me as clerk of Bullitt County Court by Field and Young .. and authority filed in my office this August 30th 1871. Field and Young by R. J. Meyler, County Clerk.

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