A motorcycle rider passes in front of an oil-themed mural in Caracas, Venezuela on September 01, 2022.
Nurphoto | Nurphoto | Getty Images
Continental Resources on Wednesday signed a memorandum of understanding with Venezuela’s state oil company to develop a massive crude patch in the South American nation.
Continental will develop and operate a patch in the Orinoco Belt that spans 126,000 acres and possesses an estimated 30 billion barrels of reserves, the company said in a statement.
Headquartered in Oklahoma City, Continental is one of the largest privately held oil and natural gas producers in the world.
This is a developing story. Please check back for updates.
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