Energy Industry Seen Ripe for Mergers

News that ConocoPhillips is buying Burlington Resources Inc. for $35.6 billion has raised speculation that the energy industry is on the brink of another bout of mergers – with a twist.

Unlike the feverish M&A activity of a few years ago that spawned double-barreled behemoths like Exxon Mobil Corp. and ConocoPhillips itself, industry analysts say a new round of mergers is being driven by the quest for resources rather than economies of scale.