Held by Production (HBP)?

Oklahoma Mineral Rights Caddo County, OK
1

All,

I had an agreement with an agent to lease my mineral holdings in Section 31-10N-9W - but have since been informed that the agreed-upon area is "Held by Production" by Devon Energy (Newell 1-31). I'm not quite sure what that means - should I have heard something from Devon? Does anyone on this board have any points of contact @ Devon?

Thanks in advance for your help/

2

Held By Production (HBP). The well is producing (so you should be receiving payments). Your lease term is, therefore, automatically extended. So, you may not lease again until this lease terminates according to the terms of the lease.