US companies are poised to play a role in restoring Venezuelan crude production following the capture of President Nicolás Maduro. Chevron, the only company currently operating in Venezuela, holds interests in major joint ventures and an offshore gas field. Exxon and ConocoPhillips may seek reentry to collect arbitration awards or restore assets.

Venezuela’s oil industry, in disarray after neglect and sanctions, requires significant investment to increase production. Most reserves are extra-heavy oil, costly to extract. Companies may wait for regulatory certainty before investing. Chevron could see incremental production increases in the short term, but substantial growth may take years.

Maduro’s ouster opens the door for US companies to develop Venezuela’s vast oil reserves, but challenges and uncertainties remain. Chevron’s strategic position in the country gives it an advantage, while Exxon and ConocoPhillips may seek compensation for past losses. Significant investment is needed to revive Venezuela’s oil industry.

Read more at Morningstar: Maduro Removal Opens Possibilities for Oil Majors, but Anything Imminent Unlikely