Slocum Jeffrey Shannon sold $566K of HAL

The U.S. has granted North American Blue Energy Partners (NABEP) 100-year concessions for 17 Venezuelan oil fields with 65 billion barrels of reserves. The U.S. gains equity and governance rights. NABEP plans to deploy 52 drilling rigs, with some already acquired from Helmerich & Payne, Patterson-UTI Energy, and Precision Drilling. China has responded, asserting its legal rights in Venezuela. Halliburton and ExxonMobil are key players in the potential U.S.-led oil development.

Chevron (CVX) and Halliburton (HAL) are nearing deals to invest in Venezuela's oil industry. Chevron may add two heavy-oil fields, while Halliburton discusses supplying equipment. The U.S. is encouraging energy companies to help rebuild Venezuela's oil sector. ExxonMobil (XOM) and ConocoPhillips (COP) are cautious due to past disputes. Investments could generate demand for services and expand Chevron's portfolio, but require significant capital and infrastructure.

Halliburton (HAL) stock rose 2.7% in pre-market trading to $37.16, driven by a 3% jump in oil prices following U.S. strikes on Iran and Tehran's retaliation. Brent crude surpassed $90 per barrel, which typically boosts Halliburton's customers' spending. The rally occurred amid a broader market decline, highlighting sector-specific gains. Halliburton has seen a 5% advance over two weeks, benefiting from elevated oil prices due to Middle East supply disruptions.

U.S. energy stocks rose in premarket trading Monday, following a 3.5% increase in oil prices due to U.S.-Iran strikes in the Strait of Hormuz. Chevron (CVX) gained 1.7%, Exxon Mobil (XOM) rose 1.5%, and other energy firms also saw gains. The conflict has disrupted oil supply and raised tensions in the region.

Chevron and other U.S. energy firms are nearing deals to invest billions in Venezuela's oil fields, expanding American involvement. Chevron may add two new fields to its existing three joint ventures with PdVSA. Halliburton is also in talks to provide equipment and services. This aligns with U.S. efforts to increase investment in Venezuela's oil industry.

Chevron (CVX) and Halliburton (HAL) are reportedly nearing deals to invest in Venezuela's oil fields, with CVX stock up 1% and HAL shares up 2.3% on the news. CVX may expand operations, while HAL could provide equipment, as the U.S. pushes for industry rebuilding. Venezuela's fields require billions in investment, with long-term leases under discussion.