No. Precipitation is the formation of a solid in a solution during a chemical reaction. When the reaction occurs, the solid formed is called the precipitate, and the liquid remaining above the solid is called the supernate.
Obviously CH4 + 2O2 = Co2 + 2H2O - in other words 1 methane + 2 oxygen = 1 Carbon Dioxide + 2 water - Does not form a solid in a solution so can not be a precipitation reaction.