MLchartDataset catalogue

HBP

Term · Oil and gas · MLC-T-OAG-001794

Held By Production, a legal status of an oil and gas lease that remains in effect as long as hydrocarbons are produced in paying quantities. This condition extends the lease beyond its primary term, preventing it from expiring due to lack of drilling activity. The definition of "paying quantities" is typically outlined in the lease agreement or by state regulations.

Table 1. Record
IdentifierMLC-T-OAG-001794
FieldOil and gas
SubjectOil and Gas Business
Record as JSON 
{
  "id": "MLC-T-OAG-001794",
  "term": "HBP",
  "field": "Oil and gas",
  "definition": "Held By Production, a legal status of an oil and gas lease that remains in effect as long as hydrocarbons are produced in paying quantities. This condition extends the lease beyond its primary term, preventing it from expiring due to lack of drilling activity. The definition of \"paying quantities\" is typically outlined in the lease agreement or by state regulations.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/hbp/"
}

Record 1,925 of 4,468 in Oil and gas terminology (MLC-0103). Request the full dataset.