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.
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.
Blizzards, droughts, floods and a surge in hurricanes may be in store as a cooling trend in the Pacific known as La Nina alters weather around the world and threatens to boost prices for heating fuels and crops.