Brief
Continental Resources, owned by billionaire Trump donor Harold Hamm, has reached an agreement with PDVSA to develop one of Venezuela’s largest oilfields. The company will receive a long-term concession covering 500 square kilometers and holding a 100% working interest. The transaction expands the role of politically connected US capital in Venezuela’s oil sector, while ExxonMobil is also considering a return, according to the source headline.
Granting Continental full operating control over a large field could mark a significant opening to private US participation in Venezuela’s upstream sector. For investors, the key implications are whether the concession establishes a replicable contractual model and whether politically connected entrants can navigate sanctions, payment and enforcement risks.
Subscribe to this vertical
Oil production, exports, OPEC signals, and energy-linked credit — weekly, with extra editions when news volume warrants.
Oil And Gas · Venezuelanalysis
Sep 17, 2026
Watch for publication of the concession’s contractual terms, required regulatory or sanctions approvals, Continental’s investment and production timetable, and any formal ExxonMobil agreement that would turn reported interest into a committed return.