THR reports that director Darren Aronofsky and Angelina Jolie may adapt Ron Rash's novel, Serena.  After reading the Reporter's description of the book, it's not difficult to see why Aronofsky or Jolie finds the material appealing:

Set in the rugged mountains of 1929 North Carolina, "Serena" follows a man named George Pemberton and his new bride, Serena, as they create a timber empire. Serena not only takes to the woods, but she also pushes her husband to commit more and more ruthless acts. When she learns she cannot bear a child, Serena sets out to murder the son her husband fathered illegitimately.

So it looks like you have the tone of There Will Be Blood except with Jolie in the power-mad Daniel Plainview role.  As we reported last week, Jolie had dropped out of Wanted 2 and it looked like she had replaced it with Gravity, a space thriller from Alfonso Cuarón, the director's first film since 2006's brilliant Children of Men.  EW then reported that Jolie passed on doing Gravity, so perhaps Selena is what she has her eye on (which would be an acceptable reason for passing up the chance to work with Cuarón).  However, THR says Jolie could also to choose to star in a movie based on author Patricia Cornwall's crime-solving medical examiner Kay Scarpetta (which would be an unacceptable reason).  Universal says Wanted 2 isn't dead without Jolie, but I'm more interested in discovering which project she'll bring to life.