Lea en españolConocoPhillips, Exxon Mobil Corp. and other US oil companies are examining what role they can play in helping revitalize Venezuela’s energy industry, US Energy Secretary Chris Wright said following talks with executives.

Companies like Exxon Mobil and ConocoPhillips say that Venezuela owes them billions of dollars for confiscating their assets two decades ago.

Shares of U.S. oil and gas major ConocoPhillips ( COP +3.59%) rallied as much as 6.5% on Monday, before settling into a 3.2% gain as of 12:42 p.m. EDT. Conoco, along with other U.S.-based oil and gas producers, oil services companies, and refiners, rallied today in response to the U.S. ousting Venezuelan President Nicolás Maduro last Friday night.

The Trump administration is counting on Big Oil to revive Venezuela's creaky energy sector. That's no sure bet, according to industry experts.

News of a second gas strike comes amid worries that the federal government’s domestic gas reservation plan may undermine new projects.

As investors assess the regime change in Venezuela, eyes are on ConocoPhillips (COP), which had exited the country and pursued arbitration claims. Venezuela seized the assets of several international oil firms in the 2000s after then-president Hugo Chávez demanded greater state control through oil company PDVSA.

ConocoPhillips said on Thursday its Chairman and CEO Ryan Lance will attend a White House meeting on Friday and that it was monitoring developments in Venezuela and their "potential implications for global energy supply and stability.

Shares of ConocoPhillips have underperformed the broader market over the past year. The independent energy producer's business is highly tied to commodity prices. The best time to buy a company like ConocoPhillips is often when others find it unappealing.

ConocoPhillips stands to convert a $12B Venezuelan legal claim into near-zero-cost equity stakes in high-producing Orinoco Belt assets. See why COP stock is a Buy.

ConocoPhillips (NYSE:COP) is included among the 10 Best Natural Gas Stocks to Buy Right Now. ConocoPhillips (NYSE:COP) is one of the world’s largest independent E&P companies based on oil and natural gas production and proved reserves.