Expand chart
Data: FactSet; Chart: Axios Visuals

Shares of Concho Resources jumped yesterday on the heels of a Bloomberg report that ConocoPhillips might acquire the company.

Why it matters: The deal, if it happens, will be another sign that the pandemic-fueled industry downturn could bring new consolidation to the U.S. sector. Or maybe not.

It follows Chevron's deal to acquire the big independent producer Noble Energy announced in July (though that deal also provided Chevron new gas assets in the Mediterranean Sea).

And oil-and-gas producers Devon Energy and WPX Energy announced a merger in late September.

Go deeper: Analysts see potential Conoco-Concho deal as a 'strength-on-strength merger' (S&P Global Platts)

Go deeper

Oct 22, 2020 - Axios Events

Watch: How the pandemic has changed the energy industry

Axios will host a conversation on Wednesday, October 28 at 12:30pm ET on how the pandemic has affected the environment and the energy industry and how these shifts will have a lasting impact on the private sector's approach to renewable energy, featuring Sunrun co-founder and CEO Lynn Jurich and New York's Deputy Secretary for Energy and Environment Ali Zaidi.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk — Mark Meadows: "We are not going to control the pandemic"— COVID-19 looms over White House Halloween celebrations.
  2. Health: 13 states set single-day coronavirus case records last week — Fauci says maybe we should mandate masks if people don't wear themU.S. reports over 80,000 new cases for second consecutive day.
  3. World: Italy tightens restrictions Spain declares new state of emergency.

Amy Coney Barrett's immediate impact

Illustration: Eniola Odetunde/Axios

In her first week on the job, Amy Coney Barrett may be deciding which votes to count in the presidential election. By her third week, she’ll be deciding the fate of the Affordable Care Act.

Where it stands: The Senate votes on Barrett’s nomination tomorrow. If she’s confirmed, Chief Justice John Roberts is expected to swear her in at the Supreme Court within hours, an administration official tells Axios.