To amend the Mineral Leasing Act to provide for the continuation of certain leases on mineral estates upon the vesting of a present interest of the United States to such mineral estates.

[AI summary unavailable — showing source text] Amends the Mineral Leasing Act to permit, upon the leaseholder's election, noncompetitive continuation of certain oil or gas leases on lands in which the United States held a vested future interest in the mineral estate which has become a vested present interest in it. Requires that: (1) oil or gas was being produced before the present mineral interest vested in the United States; and (2) such lease issued without competitive bidding.…