ExxonMobil (NYSE: XOM) kicked off what appears to be the next wave of merger and acquisition activity in the oil patch by agreeing to a more than $60 billion megadeal for Pioneer Natural Resources. That deal already sparked another transaction. Meanwhile, several other oil companies are reportedly on the prowl for their next acquisition.

The oil market merger wave could dramatically alter the industry. It could also produce some big winners. ExxonMobil, Devon Energy (NYSE: DVN), and (NYSE: COP) stand out to a few Fool.com contributors as some of the oil stocks best positioned to capitalize on the sector's consolidation. Here's why they think investors should consider buying them today.

Reuben Gregg Brewer (ExxonMobil): With the announcement of the $64.5 billion acquisition of Pioneer Natural Resources, ExxonMobil was the first U.S. oil major to strike a huge, industry-consolidating deal. The benefit to Exxon is that it increases its exposure to U.S. onshore oil and natural gas production in an area where it already has a relatively modest presence. In other words, it gains scale in an important region to complement its other U.S. production assets, making the company's domestic business that much stronger.

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Source Fool.com