Oilfield services provider Schlumberger Limited SLB announced that it would trim its Venezuelan exposure to align operations with cash collections. The move followed inadequate payments received in recent times from the Venezuelan state-run oil holding Petróleos de Venezuela SA (“PDVSA”). The difficulties have been prevailing for quite some time now as the cash-strapped PDVSA delayed payments to oil-service providers operating in the country.The company will reduce its exposure in Venezuela in April itself. Schlumberger will continue to provide services to those with stable books while trim the others.As of Dec 31, 2015, the company had approximately $13.0 billion in cash and short-term investments and $14.4 billion in long-term debt. Additionally, Schlumberger reaffirmed its first-quarter revenue guidance of approximately $6.5 billion. The company recently concluded its acquisition of Cameron International Corporation. The deal created the industry’s first comprehensive drilling and production system, which is supported by Schlumberger expertise in instrumentation, data processing, control software, and system integration as well as Cameron’s wellhead and surface equipment, flow control and processing technology.Schlumberger is a leading oilfield services company that provides technology, project management and information services to the global oil and gas industry. The combination of its strong balance sheet, technological leadership and efficient management is expected to prove beneficial in the long term.Moreover, Schlumberger’s efforts to increase its capacity in pressure pumping and strengthening deepwater activity in the Gulf of Mexico are likely to add to its revenues going forward. While hydraulic fracturing pricing and land drilling activity remain depressed throughout North America, the company has more than offset the negatives with its superior technology, internal efficiency gains and size.Schlumberger currently carries a Zacks Rank #3 (Hold). Some better-ranked players from the energy sector are ReneSola Ltd. SOL, FutureFuel Corp. FF and Enviva Partners, LP EVA. Each of these stocks sports a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SCHLUMBERGER LT (SLB): Free Stock Analysis Report RENESOLA LT-ADR (SOL): Free Stock Analysis Report FUTUREFUEL CORP (FF): Free Stock Analysis Report ENVIVA PARTNERS (EVA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research