Gas firm Santos Ltd is the target of fresh takeover talk after a spike in trading of the firm's shares, according to The Australian.
The rumours suggest Chevron or ExxonMobil may be interested in Santos as both companies seek to expand their presence in Australia's gas sector.
With Santos' $20 billion Gladstone LNG project stabilising the company has been seen as increasingly appealing (see Tim Treadgold's Santos fires up on LNG)
Neither Exxon nor Chevron would comment on the rumours, according to The Australian.
On Thursday's, Santos' stock hit a 52-week high of $14.27 before pulling back slightly at the close to finish at $13.97.