US Oil major to Acquire British Oil Producer

US oil major ConocoPhillips is in talks to buy the British oil and gas producer Burlington Resources Inc. for more than $30 billion, the Wall Street Journal online edition reported.

Put together, Conoco and Burlington would have a combined estimated 2006 revenue of just over $211 billion, according to Reuters Estimates, not far off Chevron's forecast of $217 billion in 2006 revenue.