Question: Ironwood Exploration Inc Ironwood owned a lease on oil and
Ironwood Exploration, Inc. (Ironwood) owned a lease on oil and gas property located in Duchesne County, Utah. Ironwood contracted to have Lantz Drilling and Exploration Company, Inc. (Lantz), drill an oil well on the property. Thereafter, Lantz rented equipment from Graco Fishing and Rental Tools, Inc. (Graco), for use in drilling the well. Graco billed Lantz for these rentals, but Lantz did not pay. Graco filed a notice of a lien on the well in the amount of $ 19,766. Ironwood, which had paid Lantz, refused to pay Graco. Graco sued to foreclose on its lien. Who wins? Graco Fishing and Rental Tools, Inc. v. Ironwood Exploration, Inc., 766 P. 2d 1074, 1988 Utah Lexis 125 (Supreme Court of Utah)
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