ConocoPhillips bets on gas with Burlington talks Click here to go to the original topic          Value Investing Forum Forum Index -> Financial Analysis & Economy blast_investor Mon Dec 12, 2005 1:51 pm     ConocoPhillips bets on gas with Burlington talks  http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh10066_2005-12-12_18-19-00_n12210119_newsml NEW YORK, Dec 12 (Reuters) - ConocoPhillips (COP.N: Quote, Profile, Research) , which made billions of dollars by betting on the golden profits of the U.S. refining industry, is now making a big gamble on the future of natural gas. The Houston-based oil major is in advanced talks to buy gas and oil producer Burlington Resources Inc. (BR.N: Quote, Profile, Research) for more than $30 billion, a deal that would catapult it to being the largest gas producer in North America, sources familiar with the situation said on Monday. The move by the No. 3 U.S. oil company, which reaped booming profits after the 2001 merger that created it added a leading refining portfolio to its world oil operations, underscores a belief that natural gas will also remain hot. "It is a huge bet on natural gas," said Fadel Gheit, an analyst at Oppenheimer & Co. "This is the most lucrative part in the energy chain."          Value Investing Forum Forum Index -> Financial Analysis & Economy Page 1 of 1 Search Engine Indexer BlastInvest @2005 p h p B B © 2001, 2002 p h p B B Group