Then in 2012 it was speculated that Exxon Mobil (NYSE: XOM) could move on Anadarko and at the end of last year, it was reported that Exxon, Chevron (NYSE: CVX), BP (NYSE: BP), ConocoPhillips (NYSE: COP), Royal Dutch Shell (NYSE: RDS-A) and Total (NYSE: TOT) could all be suitors for Anadarko.

At the end of last year, Anadarko traded around $80 per share, meaning any of the aforementioned companies probably could have acquired the company for $95 to $100 per share. But based on Wednesday’s close of above $108, if an offer does materialize, it might need to be in the area of $130 per share to compel Anadarko to sell.

FRAK has been down this road before. Aside from Anadarko, EOG, Devon Energy (NYSE: DVN) and Chesapeake Energy (NYSE: CHK), a combined 15.4% of the ETF’s weight, have all been rumored takeover targets.

Yet along with Anadarko, all remain independent companies. That has not stopped the ETF from gaining 18.4% this year while bringing in almost 31% of its $72 million in assets under management. [Big Things, Small Packages With These ETFs]

Market Vectors Unconventional Oil & Gas ETF