Continental Resources CEO: Real opportunity in Venezuela today

Watch on YouTube ↗  |  September 17, 2026 at 19:56  |  3:20  |  CNBC
Speakers
Doug Lawler — CEO, Continental Resources
Brian Sullivan — Anchor, CNBC (Last Call / Power Lunch)

Summary

Doug Lawler, CEO of Continental Resources, discusses the company's nonbinding MOU with Venezuela to explore and develop a greenfield heavy oil opportunity north of the Orinoco River. He argues Venezuela's recent hydrocarbon-law changes and U.S. government support create real, actionable opportunities to mobilize oil resources that have been off the market. Lawler also says increased Venezuelan production could add global supply and help mitigate energy tightness over time, though not in the next few weeks.

  • Continental Resources signed a nonbinding MOU with Venezuela.
  • The MOU covers a greenfield heavy oil project north of the Orinoco River.
  • Lawler cites favorable Venezuelan hydrocarbon-law changes and U.S. support.
  • He sees real, actionable opportunities in Venezuela's oil sector.
  • Increased Venezuelan production could add meaningful global supply.
  • Lawler cautions supply impact will take time, not weeks.
  • The discussion also touches on diesel tightness and refining constraints.
Ideas
Doug Lawler CEO, Continental Resources 0:33
Venezuela oil offers actionable opportunities
Lawler sees real, actionable opportunities in Venezuela's oil sector today because the Venezuelan government has moved toward more favorable hydrocarbon terms and the U.S. government is supportive, unlocking significant resources that have been off the market. He believes outside investment can add material supply and improve Western Hemisphere energy security, though the impact will take time.
Venezuela Oil HIGH
Doug Lawler CEO, Continental Resources 1:11
Continental targets Venezuelan heavy oil
Continental Resources has entered a nonbinding MOU as a leading entry into contract negotiations to explore and develop a greenfield heavy oil opportunity in the belt north of the Orinoco River. Lawler says favorable changes in Venezuela's hydrocarbon law and support from both governments make this a competitive external investment opportunity, and he sees the potential for a material project.
CONTINENTAL RESOURCES HIGH
Doug Lawler CEO, Continental Resources 2:52
Venezuela supply to pressure oil
Increased Venezuelan oil production can mobilize additional resources and add meaningful supply to global markets, helping mitigate current energy tightness. Lawler cautions that this will take time and will not resolve the issue in the next few weeks, but he expects it to have a material impact on global supply.
WTI MED
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This CNBC video, published September 17, 2026, features Doug Lawler discussing Venezuela Oil, CONTINENTAL RESOURCES, WTI. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Doug Lawler  · Tickers: Venezuela Oil, CONTINENTAL RESOURCES, WTI