Held by production

{
  "id": "MLC-T-OAG-001808",
  "term": "Held by production",
  "field": "Oil and gas",
  "definition": "A legal status of an oil and gas lease that extends its term beyond the primary period as long as hydrocarbons are produced in paying quantities from the leased premises. This clause prevents the lease from expiring due to the passage of time, provided that active production or operations continue. The definition of \"paying quantities\" is typically established by state law or the lease agreement.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/held-by-production/"
}