Continental Resources to develop massive oil patch in Venezuela
(L/R) Harold Hamm, chairman of Continental Resources, shakes hands with PDVSA Executive Vice President Jovanny Martinez after signing an agreement during the third day of the G20 Ministerial Meeting on Energy Abundance in Houston, Texas on September 16, 2026.
Ronaldo Schemidt | Afp | Getty Images
Continental Resources on Wednesday signed a memorandum of understanding with Venezuela’s state oil company to develop a massive crude patch in the South American nation.
Continental will develop and operate a patch in the Orinoco Belt that spans 126,000 acres and possesses an estimated 30 billion barrels of reserves, the company said in a statement.
Headquartered in Oklahoma City, Continental is one of the largest privately held oil and natural gas producers in the world.
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