Uncharted

A strong North American natural gas position appears to be regaining its value for the majors. As domestic natural gas futures prices continue to trade in the uncharted territory of $14-15, rumors were circulating Monday about Houston-based ConocoPhillips taking an interest in buying Burlington Resources, also Houston-based. The Wall Street Journal reported that the two companies are in “advanced talks” on a deal valued in excess of $30 billion.