Continental Resources strikes Venezuela oil development deal

Continental Resources on Wednesday announced that it reached an agreement with Venezuela's state-owned oil company to develop oil in the South American country's prolific Orinoco Belt.The memorandum of understanding with Petroleos de Venezuela S.A. (PDVSA) will see Continental Resources operate and develop the Ayacucho 2 Block in the Orinoco Belt, which is the main oil field in the country. The announcement indicated that the two parties plan to enter into a long-term production agreement in the