8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549




                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



         Date of Report (Date of earliest event reported): June 1, 1998



                             PYR Energy Corporation
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)



          Delaware                    0-20879                    95-4580642
          --------                    -------                    ----------
(State or other jurisdiction     (Commission File           (IRS Employer
 of incorporation)                Number)                    Identification No.)



                1675 Broadway, Suite 1150, Denver, Colorado 80202
                -------------------------------------------------
              (Address of principal executive offices) (Zip Code)



        Registrant's telephone number, including area code (303) 825-3748






Item 5. Other Events.
        ------------

     Press  Release.  The press  release of the  Registrant  dated June 1, 1998,
which is filed as an exhibit hereto, is incorporated herein by reference.

Item 7. Financial Statements And Exhibits.
        ---------------------------------

     (c) Exhibits.

                                  Exhibit Index
                                  -------------

Exhibit
Number            Description
- ------            -----------

99.1              Press release dated June 1, 1998.


                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


Date:  June 4, 1998                              PYR ENERGY CORPORATION



                                                 By: /s/Andrew P. Calerich
                                                    ----------------------------
                                                    Andrew P. Calerich
                                                    Chief Financial Officer

EX-99.1

                                  EXHIBIT 99.1


On June 1, 1998, the Registrant issued the following press release:

       PYR Signs Agreement to Drill Second California Exploration Project

     DENVER - PYR Energy Corporation (OTC EBB: PYRX) today announced that it has
executed a  Participation  Agreement with Seneca  Resources  Corporation for the
drilling of PYR's Rainbow 'Stevens' exploration prospect in the School Road area
of the southern San Joaquin  Basin.  Houston based Seneca  Resources,  which has
extensive oil and gas operations in California, is the oil and gas subsidiary of
National Fuel Gas Company (NYSE: NFG). PYR will retain a 40% working interest in
the project.

     The  Rainbow  exploration  well  should be spud soon after  issuance of the
drilling  permit,  anticipated to take  approximately 60 days. This initial test
well is to be  drilled to a total  depth of  approximately  12,500  feet to test
multiple     Upper    Miocene,     'Stevens'     sands    in    a    combination
structural/stratigraphic  feature  defined by 3-D seismic data.  These 'Stevens'
sand  reservoirs  typically  produce  light  oil (28  degrees - 42  degrees  API
gravity) and associated  natural gas. The Rainbow prospect is one of a series of
prospects  identified  and mapped by PYR from 3-D seismic data within the School
Road project.

     The School  Road  project  is the  second in a series of three  exploration
projects  in the San  Joaquin  basin to be  drilled  by PYR in 1998.  The  first
project,  East Lost Hills,  is currently  drilling  toward an anticipated  total
depth of 19,000 feet.  In the third project at SE Maricopa,  the  52-square-mile
3-D seismic acquisition program is anticipated to be complete by mid-June,  with
an  initial  exploration  well to be  drilled  near  year-end  1998. 

     PYR Energy  Corporation  applies  advanced  3-D seismic and  computer-aided
exploration  technologies to systematically  explore for and exploit onshore oil
and natural gas accumulations in the western United States.


                                       ###

This  release   contains   forward-looking   statements   regarding  PYR  Energy
Corporation's  future plans and expected  performance  based on assumptions  the
Company  believes to be reasonable.  A number of risks and  uncertainties  could
cause actual  results to differ  materially  from these  statements,  including,
without  limitation,  the success rate of exploration efforts and the timeliness
of development  activities,  fluctuations in oil and gas prices,  and other risk
factors described from time to time in the Company's reports filed with the SEC.
In addition,  the Company operates in an industry sector where securities values
are highly  volatile and may be influenced by economic and other factors  beyond
the Company's control.