Directs the Secretary of the Interior to evaluate opportunities to enhance domestic oil and gas production through: (1) the exchange of nonproducing leases (located in the Lewis and Clark National Forest, the Flathead National Forest, and on Bureau of Land Management land in Montana) for oil and gas lease tracts of comparable value in Montana or in the Western and Central Planning Areas of the Gulf of Mexico on the Outer Continental Shelf; and (2) the issuance of bidding, royalty, or rental credits for Federal onshore oil and gas leases in Montanta or in the Planning Areas in exchange for the cancellation of the nonproducing leases.
States that to facilitate such evaluation the terms of nonproducing leases in the Badger-Two Medicine Area (U.S. Forest Service land) shall be suspended for a three-year period beginning on the date of enactment of this Act.
Directs the Secretary to submit to congressional committees a report on such evaluation.