Pioneer Natural Resources Co., the energy explorer with more than 7,000 wells in the largest U.S. oil field, may draw buyers from Chevron Corp. to ConocoPhillips to one of the industry’s biggest takeover targets.
With Exxon Mobil Corp. poised to lose its lead as the largest publicly traded oil producer by output, acquiring Anadarko Petroleum Corp. or EOG Resources Inc. would accelerate growth and help the company regain its lead.
Natural gas futures fell for the first time in five days as revised forecasts showed cooler weather for the U.S. Midwest and Northeast, reducing demand for gas-powered electricity for air conditioning.
EOG Resources Inc., the U.S. crude oil producer that’s rallied more than any peer in the past six months, offers the biggest energy companies the chance to expand in one of the world’s fastest-growing markets.
U.S. natural gas prices are poised to extend their longest-ever decline as heavier-than-normal rainfall boosts hydropower generation from plants in the Pacific Northwest, cutting demand for gas-fired electricity.