Regarding the lease terms, once a producing well is found, the lease reverts to HBP (held by production) status, and the lease is then held until the well quits producing (or sometimes quits making money). So you can have wells producing on leases that are decades old. Regarding the flaring, it was commonly done years ago because there were no pipelines for the gas. Gas prices were very low, there were limited markets, and it just wasn't economic to do anything with the gas. Now days, the gas is usually too valuable to waste by flaring, and most states have strong limitations on flaring. Some flaring may be allowed during the testing phase, but that's it. There's a lot more to it, but these are the basics.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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