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 - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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