EQT Corp., the largest U.S. natural gas producer, is considering buying rival CNX Resources Corp., Bloomberg News reported on Oct. 22, citing people familiar with the matter.
EQT had recently sent a takeover proposal to CNX Resources, the report said, adding that no final decision has been made.
Last month, Reuters reported that EQT had bid for Chevron Corp.'s Appalachia gas properties and a pipeline stake.
Dealmaking has recently picked up pace among oil-focused U.S. producers slammed by the rout in energy prices during the COVID-19 pandemic.
Both EQT and CNX declined to comment on the news.
TC Energy has declared force majeure on crude oil deliveries at destinations in Texas on its Marketlink pipeline, citing power outages caused by severe cold weather in the state.
The Keystone XL oil pipeline project, announced 12 years ago to move Canadian crude from Alberta to Nebraska, has already been well under construction in Canada.
Two Permian pipelines are on track to come online in 2021.