Harold Hamm Signs Deal to Explore Venezuelan Oil Fields

Summary

Bloomberg's Kevin Crowley reports that Harold Hamm's Continental Resources is set to announce a deal to invest in Venezuela, making it the first major U.S. shale producer to enter the country. The Trump administration is pushing U.S. companies to revive Venezuela's oil sector, with Energy Secretary Chris Wright and Interior Secretary Doug Burgum announcing multiple deals. Crowley notes Hamm's close relationship with President Trump and his risk-taking background, but says details are still pending.

• Continental Resources, controlled by Harold Hamm, is set to sign a firm deal to invest in Venezuela.
• The deal would make Continental the first major U.S. shale producer to enter Venezuela.
• The Trump administration is encouraging U.S. companies to help revive Venezuela's oil sector.
• Energy Secretary Chris Wright and Interior Secretary Doug Burgum are announcing multiple deals in Houston.
• Harold Hamm is described as a shale pioneer, risk-taker, and relentless oil bull with ties to Trump.
• Crowley says Continental has historically done little outside the U.S., and deal details are still pending.