Held by production
Also called: HBP
A lease that continues indefinitely beyond its primary term as long as the well or mine keeps producing in paying quantities.
Most oil and gas leases have a primary term of a few years, after which they expire unless production has been established. Once producing, the lease is held indefinitely — sometimes for decades on marginal output.
HBP status is why acreage in an active field rarely comes open, and why tracking lease expirations is how land teams find the acreage that does.
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