Why These Energy Stocks are Gaining This Week

7. SLB N.V. (NYSE:SLB)

Share Price Gains Between Dec. 30 – Jan. 6: 13.18%

SLB N.V. (NYSE: SLB) provides technology for the energy industry worldwide.

SLB N.V. (NYSE:SLB) garnered widespread investor attention after a US military strike captured Venezuelan President Nicolas Maduro, with President Trump declaring that the American oil companies would now enter the South American country and invest billions of dollars to rebuild its crumbling energy infrastructure. The President plans to meet with executives of several oil majors this week to discuss boosting Venezuelan oil production, given that the country is sitting atop the largest oil reserves in the world.

While the immediate impact remains unclear, investors are betting that reviving Venezuela’s dilapidated oil infrastructure would require exactly what companies like SLB N.V. (NYSE:SLB) provide: rigs, crews, and equipment to drill and complete wells. SLB’s technology would prove crucial to boosting Venezuelan crude production, potentially giving the company a strong pipeline of projects and contributing significantly to its revenue.