To amend the Mineral Leasing Act to provide for the continuation of certain future interest oil and gas leases.

Amends the Mineral Leasing Act to mandate that, upon the leaseholder's election, continuation of certain oil or gas leases on lands in which the United States held a vested future interest in the mineral estate along with a vested present interest in the surface estate. Requires that: (1) oil or gas was being produced before the mineral interest reverted to the United States; and (2) royalties and rents be paid to the United States.