CVX, HAL Stocks Gain — Chevron, Halliburton Reportedly Eye Venezuela Oil Opportunities

• Chevron could add two heavy-oil fields to its existing Venezuelan portfolio, according to The Wall Street Journal.
• Halliburton is reportedly in talks to bring its oil-field equipment and services to Venezuelan producers.
• The Trump administration is negotiating for a significant stake in Venezuela’s oil fields, with leases of up to 100 years reportedly under consideration, according to Bloomberg.

Chevron Corp. (CVX) and other U.S. energy companies are reportedly moving closer to deals that could bring billions of dollars of investment into Venezuela’s oil fields.

While Chevron is nearing an agreement to expand its operations in the country, Halliburton Co. (HAL) is reportedly in talks to provide equipment to Venezuelan oil producers, as the Trump administration pushes U.S. companies to help build the nation’s oil industry.

At the time of writing on Friday afternoon, CVX stock was up 1%, while HAL shares were trading 2.3% higher.

Chevron, Halliburton Eye Venezuela Opportunities

Chevron could add two heavy-oil fields to its Venezuelan portfolio under the potential agreement, The Wall Street Journal reported, citing people familiar with the matter. The oil major already operates three joint ventures with Venezuela’s state oil company PdVSA and remains the only major U.S. oil company active in the country.

Halliburton, one of the largest U.S. oil-field-services companies, is also considering bringing its equipment to oil producers in Venezuela, according to the report.

Executives from several oil-and-gas companies are expected to sign production deals in Caracas next week. Energy Secretary Chris Wright is also expected to travel to Venezuela.

Billions Needed To Develop Oil Fields

Many of the fields being offered by Venezuela are “greenfields,” meaning they often lack infrastructure or electricity. Developing those fields into productive oil operations would require billions of dollars in investment.

The discussions are taking place as the Trump administration negotiates with Venezuelan leaders over a significant stake in the country’s oil fields, which are among the world's largest. Bloomberg reported that leases of up to 100 years are being considered for several of the oil fields under discussion.

The potential agreements follow the U.S. seizure of Nicolás Maduro in January, which effectively handed control of Venezuela to his former vice president Delcy Rodríguez, who has since become allied with the Trump administration. In the months that followed, President Donald Trump pushed for U.S. companies to rebuild Venezuela’s oil industry.

CVX, HAL Stocks: Stocktwits Retail Sentiment

On Stocktwits, retail sentiment for CVX remained ‘bearish,’ unchanged over the past 24 hours, while message volume was ‘normal’ at the time of writing. Sentiment for HAL shifted to ‘neutral’ from ‘bearish’ over the same period, with message volume being ‘normal.’

CVX stock has gained more than 34% year-to-date, while HAL shares have risen nearly 30% over the same period. 

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