Legendary value investor Michael Burry has maintained a position in Halliburton since at least 2020, viewing the leading oilfield services provider as a key beneficiary of global energy infrastructure investment. With Venezuelan heavy crude poised to return to the market, Burry believes companies that supply drilling, well-completion and production services—Halliburton chief among them—stand to capture substantial revenue from repair and upgrade projects. In his latest regulatory filings, Burry’s fund disclosed that Halliburton represents more than 5% of its equity portfolio, underlining his confidence in the firm’s durable order backlog and exposure to U.S. Gulf Coast refineries that process heavy grades.

In the wake of the U.S. military operation that led to the capture of Venezuela’s leader, Halliburton shares jumped more than 14% in overnight trading and climbed over 18% in after-hours sessions. The rapid gains reflect investor expectations that the company’s maintenance crews and specialized equipment will be in high demand to restore the country’s long-neglected oilfields. Market analysts note that Halliburton’s global services network, combined with its existing relationships in Venezuela under a special U.S. license, positions the company to secure multi-year contracts valued in the low billions for well rehabilitation and pipeline integrity work.