Q: I have a mineral deed for a producing well in Oklahoma that has a term interest of 99 years that is about to expire.
My question is in Oklahoma if a well is producing shouldn't it continue? What is the law regarding a producing well?
A: Whether the term interest continues past the 99 year term is dependant on the exact wording in the instrument which created the interest. There are fixed term interests. For example "for a term of 99 years." And there are interests which continue for as long as there is production from the land. For example " for a term of 99 years, and as long thereafter as there is production of oil or gas from the land." You should have an oil and gas attorney review the instrument which created the term interest to determine when the interest will expire.
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