Feb 24 (Reuters) - Oil and gas explorer Pioneer Natural
Resources Co is considering an acquisition of smaller
U.S. rival Range Resources Corp , Bloomberg News reported
on Friday, citing people familiar with the matter.
Deliberations are ongoing and there's no certainty the
companies will reach an agreement, the report said, adding
Texas-based Pioneer seeks further consolidation in the shale
industry with the deal.
Range Resources and Pioneer did not immediately respond to a
Reuters request for comment.
Meanwhile, several energy firms are pulling back on drilling
and completing wells this year as natural gas prices have
crashed to a quarter of what they were last summer.
U.S. natural gas producer Chesapeake Energy Corp said on Wednesday it will drop two rigs in the Haynesville
region that covers parts of Texas, Arkansas and Louisiana this
year, and one rig in Marcellus shale of Pennsylvania and West
Virginia.
(Reporting by Kanjyik Ghosh in Bengaluru; Editing by Shinjini
Ganguli)
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