To consolidate certain mineral interests in the National Grasslands in Billings County, North Dakota, through the exchange of Federal and private mineral interests to enhance land management capabilities and environmental and wildlife protection, and for other purposes.

Directs the Secretary of Agriculture to convey to the Burlington Resources Oil and Gas Company (formerly Meridian Oil Inc.) all Federal oil and gas 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 oil and gas rights and interests identified on the same map. States that the values of such exchanged oil and gas rights shall be deemed to be equal.

Directs the Secretary, after Burlington makes such conveyance, to convey all remaining Federal non-oil and gas mineral rights, title, and interests in the National Forest System lands and National Grasslands in the State of North Dakota, to owners of the remaining non-oil and gas mineral interests identified on such map, contingent on the owners' conveyance to the Secretary of all their rights, title, and interests. States that the values of such exchanged interests shall be approximately equal, as determined by the Secretary.

Directs the Secretary to grant to Burlington the use of federally-owned surface lands to explore and develop interests conveyed to Burlington under this Act.