The possible federal sequestration could have a big impact on federal leasing.

In a teleconference with reporters, U.S. Secetary of the Interior Ken Salazar said on Monday that there could be as many as 300 fewer federal gas-and-oil leases processed if the sequestration proceeds.

That, he said, is because the federal government won't have the needed personnel to process the desired onshore leases, mostly in western states.