Brief
Two U.S. companies have moved to enter Venezuela’s extractive industries. Heeney Capital plans to operate the Chocó gold mine in Bolívar state, with investment of as much as $1 billion. Separately, Continental Resources has agreed preliminary terms with state oil company PDVSA to develop an oil block. The announcements point to prospective U.S. participation in both mining and hydrocarbons, although the oil arrangement remains at an initial stage and no implementation timetable was provided.
Heeney’s proposed investment would represent a sizable foreign-capital commitment to Venezuelan mining, while Continental’s preliminary accord could broaden U.S. commercial involvement in oil. Actual execution would test whether announced agreements can become bankable, operating projects under Venezuela’s current investment conditions.
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Oil And Gas · TalCual
Sep 16, 2026
Watch for a binding Continental Resources-PDVSA contract identifying the oil block and development commitments, plus evidence that Heeney has begun deploying capital and establishing operations at the Chocó mine.