Home > Term: held by production
held by production
A provision in an oil, gas and mineral lease that perpetuates a company鈥檚 right to operate a property or concession as long as the property or concession produces a minimum paying quantity of oil or gas. Also abbreviated as HBP.
- Part of Speech: noun
- Industry/Domain: Oil & gas
- Category: Oilfield
- Company: Schlumberger
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Creator
- BSchmidt
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