Schlumberger (SLB) shares surged 9% as the White House confirmed a military strike on Venezuela. SLB stock is up over 35% from its October low. Major U.S. oil companies are set to invest billions to rebuild Venezuela’s oil infrastructure, offering huge potential for oilfield services firms like Schlumberger.

Venezuela holds the world’s largest proven oil reserves, but production has plummeted to 960,000 barrels per day. Schlumberger’s expertise in infrastructure rebuilding and $469 million owed by Venezuela positions it well for growth. The recent acquisition of ChampionX strengthens its services, adding $500 million to quarterly revenue.

SLB could rally further on Q4 earnings, expected to be $0.74 per share. The stock pays a dividend yield of 2.6%, making it an attractive long-term investment. Analysts maintain a “Strong Buy” rating on SLB, with price targets up to $82, indicating a potential 87% upside. Wall Street believes SLB still has room to grow.

Read more at Yahoo Finance: Dear SLB Stock Fans, Mark Your Calendars for January 23