Some leases turn out to be worthless after seismic surveys are completed. The leases still exist until they expire. Other leases are marginal but may be drilled someday if other units can be added to make the project viable. Those leases are extended in hopes of picking up other contiguous units.
Chief Oil has some of my rights leased now. They allowed drill permits for 3 wells due expire to a fault that runs through the formation (Barnett Shale). The lease is still in force. We are working on leasing land nearby that will allow horizontal drilling parallel to the fault line. If we can bring in the other land, our lease becomes viable. If not, it’s a dead duck.
This argument by the Democrats is a red herring.
Correction to post above:
“They allowed drill permits for 3 wells due expire to a fault that runs through the formation...”
Should read: “They allowed drill permits for 3 wells to expire due to a fault...”