Continental Resources expects to finalize a long-term contract in the coming weeks, securing a 100% working interest in the development. This move signals a major expansion for the firm into one of the world's largest hydrocarbon reservoirs. Chief Executive Doug Lawler described the acquisition as an extraordinary addition to the company’s portfolio, positioning the asset as a primary engine for future production growth.
Continental Resources Targets Massive Venezuelan Oil Block
Thirty billion barrels of oil sit beneath a 126,000-acre plot in the Orinoco Oil Belt, a prize Continental Resources now aims to unlock. The company confirmed it has signed a memorandum of understanding with Petróleos de Venezuela to take full operational control of the massive Ayacucho 2 block.
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