3 Oilfield Services Stocks Tied To Venezuela’s 65 Billion Barrel Oil Rebuild

The United States has just locked in majority control over an estimated 65 billion barrels of Venezuela’s proven oil reserves, and that long 25 year horizon is drawing fresh attention to global integrated oil and oilfield services stocks. The near term supply picture may look unchanged, yet the potential multi decade capital expenditure cycle is hard to ignore. This article walks through three stocks exposed to this story and explains why that may matter for a diversified portfolio.

The stocks covered below are just a starting sample, and the full screen also surfaced 27 more companies with equally compelling long term oil and oilfield services narratives that are not covered in this article. To see the wider opportunity set and focus on your own highest conviction ideas, head straight to the Global Integrated Oil & Oilfield Services screener.

Forum Energy Technologies (FET)

Overview: Forum Energy Technologies is an oilfield equipment and services company that supplies the tools needed to drill, complete and maintain wells around the world. This links it directly to long term upstream development themes such as Venezuela’s potential rebuild. Its portfolio ranges from drilling and subsea gear to artificial lift and downhole products that help keep oil and gas production flowing over the life of a field.

Operations: Forum Energy Technologies generates about US$510 million of revenue from its Drilling and Completions segment and about US$324 million from Artificial Lift and Downhole, with sales spread across the United States at about US$389 million and key international regions such as Canada, Europe & Africa and the Middle East.

Market Cap: US$907 million

Forum Energy Technologies provides exposure to the long horizon build out of global upstream oil and gas, including potential multi decade work in Venezuela, through a focused portfolio of drilling, subsea and artificial lift equipment that operators and service companies already use across major basins. The company is now profitable and is guiding to US$870 million to US$910 million of revenue in 2026. It is also using buybacks to reshape its share base, which together may indicate a closer link between cash generation and shareholder returns. At the same time, unprofitable years are still recent history, insider selling has picked up and the business relies on external borrowing rather than customer deposits. That combination of improving fundamentals and execution risk is one reason Forum Energy Technologies is attracting fresh attention from investors following this theme.

Forum Energy Technologies is reshaping its share base while pointing to US$870 million to US$910 million of 2026 revenue guidance. Yet the real story sits in how cash generation links to future shareholder outcomes in the analysis report for Forum Energy Technologies

Innovex International (INVX)

Overview: Innovex International designs, manufactures and rents mission critical tools that help oil and gas operators drill wells, complete them and keep them producing, across both onshore and offshore fields worldwide. Its portfolio spans drilling enhancement tools, fishing and intervention gear, artificial lift accessories, subsea systems and surface wellhead equipment, which ties directly into the Global Integrated Oil & Oilfield Services theme of companies geared to long duration upstream projects.

Operations: Innovex International generates about US$998 million of revenue from Oil Well Equipment & Services, split between roughly US$539 million from onshore U.S. and Canadian markets and about US$459 million from international and offshore activity.

Market Cap: US$2.1b

Innovex International is attracting attention from investors looking at long term upstream spending because its engineered products are closely linked to drilling and completion intensity, from U.S. land wells to emerging offshore projects in regions such as Latin America and the Middle East. Management is targeting higher returns on capital through margin expansion, cost efficiency and selective M&A, while recent results highlight a growing Subsea and offshore order book that could tie the company into multi year projects if activity holds up. At the same time, reliance on external borrowing, margin compression from last year and exposure to geopolitical risks in key regions mean that earnings could be sensitive if drilling slows or project awards are delayed. The potential participation in Venezuela related work only adds another layer investors will want to watch closely.

Innovex International’s growing offshore and subsea order book could be masking a much bigger story about future returns on capital. Get the full context and potential pressure points in the analysis report for Innovex International

Core Laboratories (CLB)

Overview: Core Laboratories provides reservoir description and production enhancement services that help oil and gas companies understand their rocks and fluids, plan wells and improve recovery from complex, long lived fields worldwide. That puts Core Laboratories squarely in the Global Integrated Oil & Oilfield Services theme, as its lab data and diagnostics feed directly into development planning for larger upstream projects, including opportunities that could emerge from a long horizon rebuild in places such as Venezuela.

Operations: Core Laboratories generates about US$341 million of revenue from Reservoir Description and about US$178 million from Production Enhancement, with a small loss reported in Corporate and Other.

Market Cap: US$567 million

Core Laboratories offers a focused way to gain exposure to long term reservoir optimization rather than purely drilling volume. This can matter if activity in places like the Middle East, offshore basins and eventually Venezuela concentrates on complex, long lived fields. Analysts currently project meaningful earnings growth potential even though recent revenue and net income have softened. The stock also trades at a sizeable discount to some fair value estimates, which suggests a gap between expectations and the current share price. Set against that, margins are thin, funding relies on external liabilities and governance debate has surfaced with a director resignation in 2026. That mix of high quality technical niche and notable execution risk is one reason Core Laboratories is drawing fresh interest from investors using this screener.

Core Laboratories looks like a specialist whose thin margins and discount valuation could be hiding something more interesting. See how its technical niche, earnings potential and funding risks line up in the analysis report for Core Laboratories

Seeking Fresh Alternatives Beyond Oil?

Some of the most interesting ideas move first, then the story spreads and the easy entry points close. Scan these fresh stock lists before the momentum gets fully caught.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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