SECTION 1. EXCHANGE OF CERTAIN MINERAL INTERESTS IN BILLINGS COUNTY, 
              NORTH DAKOTA.

    (a) Purpose.--The purpose of this section is to consolidate certain 
mineral interests in the Little Missouri National Grasslands in 
Billings County, North Dakota, through the exchange of Federal and 
private mineral interests in order to enhance land management 
capability and environmental and wildlife protection.
    (b) Exchange.--Notwithstanding any other provision of law--
            (1) if, not later than 45 days after the date of enactment 
        of this Act, Burlington Resources Oil & Gas Company (referred 
        to in this section as ``Burlington'' and formerly known as 
        Meridian Oil Inc.), conveys title acceptable to the Secretary 
        of Agriculture (referred to in this section as the 
        ``Secretary'') to rights and interests identified on the map 
        entitled ``Billings County, North Dakota, Consolidated Mineral 
        Exchange--November 1995'', by quitclaim deed acceptable to the 
        Secretary, the Secretary shall convey to Burlington, subject to 
        valid existing rights, by quit-claim deed, all Federal rights 
        and interests identified on that map; and
            (2) if Burlington makes the conveyance under paragraph (1) 
        and, not later than 180 days after the date of enactment of 
        this Act, the owners of the remaining non-oil gas mineral 
        interests identified on that map convey title acceptable to the 
        Secretary to all rights, title, and interests in the interests 
        held by them, by quitclaim deed acceptable to the Secretary, 
        the Secretary shall convey to those owners, subject to valid 
        existing rights, by exchange deed, all Federal rights, title, 
        and interests in National Forest System lands and National 
        Grasslands in the State of North Dakota as are agreed to by the 
        Secretary and the owners of those interests.
    (c) Leasehold Interests.--As a condition precedent to the 
conveyance of interests by the Secretary to Burlington under this 
section, all leasehold and contractual interests in the oil and gas 
interests to be conveyed by Burlington to the United States under this 
section shall be released, to the satisfaction of the Secretary.
    (d) Approximate Equal Value of Exchanges With Other Interest 
Owners.--The values of the interests to be exchanged under subsection 
(b)(2) shall be approximately equal, as determined by the Secretary.
    (e) Land Use.--
            (1) Exploration and development.--The Secretary shall grant 
        to Burlington, and its successors and assigns, the use of 
        Federally-owned surface lands to explore for and develop 
        interests conveyed to Burlington under this Act, subject to 
        applicable Federal and State laws.
            (2) Surface occupancy and use.--Rights to surface occupancy 
        and use that Burlington would have absent the exchange under 
        this Act on its interests conveyed under this Act shall apply 
        to the same extent on the federally owned surface estate 
        overlying oil and gas rights conveyed to Burlington under this 
        Act.
    (f) Environmental Protection for Environmentally Sensitive Lands.--
All activities of Burlington, and its successors and assigns, relating 
to exploration and development on environmentally sensitive National 
Forest System lands, as described in the ``Memorandum of Understanding 
Concerning Certain Severed Mineral Estates, Billings County, North 
Dakota'', executed by the Forest Service and Burlington and dated 
November 2, 1995, shall be subject to the terms of the memorandum.
    (g) Map.--The map referred to in subsection (b) shall be provided 
to the Committee on Energy and Natural Resources of the Senate and the 
Committee on Resources of the House of Representatives, kept on file in 
the office of the Chief of the Forest Service, and made available for 
public inspection in the office of the Forest Supervisor of the Custer 
National Forest within 45 days after the date of enactment of this Act.
    (h) Other Laws.--The exchange under subsection (b)(1) shall be 
deemed to meet the requirements of all other Federal laws, including 
all land exchange laws, environmental laws, and cultural laws (such as 
the National Historic Preservation Act (16 U.S.C. 470 et seq.)), and no 
further compliance with any other law shall be required in order to 
implement the exchanges.
    (i) Continuation of Multiple Use.--Nothing in this Act, shall 
limit, restrict, or otherwise affect the application of the principle 
of multiple use (including outdoor recreation, range, timber, 
watershed, and fish and wildlife purposes) in any area of the Little 
Missouri National Grasslands. Federal grazing permits or privileges in 
areas designated on the map entitled ``Billings County, North Dakota, 
Consolidated Mineral Exchange--November 1995'' or those lands described 
in the Memorandum of Understanding Concerning Certain Severed Mineral 
Estates, Billings County, North Dakota'', shall not be curtailed or 
otherwise limited as a result of the exchange authorized by this Act.
Output: Directs the Secretary of Agriculture to convey to the Burlington Resources Oil and Gas Company (formerly known as Meridian Oil Inc.) all Federal rights and interests identified on a map entitled the "Billings County, North Dakota, Consolidated Mineral Exchange--November 1995," contingent on Burlington's conveyance to the Secretary of title to its own rights and interests identified on the same map. 
Directs the Secretary to convey to owners of the remaining non-oil gas mineral interests identified on the map all Federal rights, title, and interests in the National Forest System lands and National Grasslands in the State of North Dakota, contingent on the owners' conveyance to the Secretary, after Burlington's conveyance, of all their rights, title, and interests. 
Directs the Secretary to grant to Burlington the use of federally-owned surface lands to explore for and develop interests conveyed to Burlington under this Act.