Halliburton surpassed Wall Street expectations for fourth-quarter profit on Wednesday, on the back of steady demand for its services and equipment in international markets.

Shares of Halliburton jumped over 2% after earnings report.

Halliburton kicked off the earnings season for U.S. oilfield services providers, as the sector prepares to boost output in Venezuela after the Trump administration outlined a long-term plan urging energy companies to spend $100 billion to revive the country's oil industry.

Offshore exploration and drilling activity in regions including the Middle East, Africa and Asia have boosted demand for oilfield services, with producers seeking to expand their inventories.

Quarterly revenue from Halliburton's international segment was $3.5 billion, compared with $3.4 billion a year earlier.

The U.S. oilfield producer posted an adjusted profit of 69 cents per share for the three months ended December 31, compared with analysts' expectations of 55 cents per share, according to estimates compiled by LSEG.