(MarketWatch) – ConocoPhillips COP, -1.99% is in talks to buy Concho Resources CXO, -1.29%, Bloomberg News reported, citing people familiar with the matter.
The report said the deal may come in the next weeks, and would represent a big shale bet at a time when oil prices are depressed.
ConocoPhillips shares have dropped 46% this year, and Concho has dropped 50%.
