Oklahoma billionaire oilman Harold Hamm, the founder of Continental Resources was among a few dozen top oil leaders in the U.S. who met Friday at the White House with President Trump to discuss assuming control of Venezuelan oil and exploration in the South American country.
He appeared coy in answering a direct question from the President whether he would be willing to invest in drilling for oil in Venezuela following the capture of Venezuelan leader Nicolas Maduro. The President addressed oil executives and his cabinet members before interrupting to ask Hamm to say a few words, adding, “He’s been a friend of mine for a long time.”
Hamm said he was honored to be among so many dignified people and thanked him for removing Maduro from “that area and the world dealt with him way too long.”
“Certainly our industry knows that this is a real jewel, that can be, developed for the, for the people, for the people of Venezuela and, and also benefit the world,” continued Hamm in his comments.
He continued that the late dictator Hugo Chavez ruined the oil and gas industry in Venezuela. Maduro followed Chavez as President of the country.
“Anyway, we’re, we’re glad to see what’s happened here and look forward, uh, for the opportunity for a lot of people in this room, but also for America and the country itself.”
President Trump repeated his questions and asked him again if he would be involved in going in to Venezuela with drilling efforts by Continental Resources. As he did, he also pointed out how successful Hamm has been in his oil exploration over the course of many decades.
“Certainly it excites me as an explorationist. Uh, you know, everybody has that in their blood and. And, uh, you know, it is a very exciting, country and, and, uh, lot of reserves. And so it’s got its challenges and the industry knows how to, how to handle that,” answered Hamm without giving a firm commitment.
President Trump responded by telling Hamm and the other oil leaders that if they participate in energy exploration in Venezuela, they would have “tremendous security. You’re gonna be very secure, very safe. Physically safe in addition to financially safe. So, uh, it’s good to see you, Harold.”
The President said that those who join in the Venezuelan exploration would get their money back “very quickly”.
“We’re gonna have you get your money back fast, and then you’ll, uh, give a lot to Venezuela and to the United States after that. Okay? So you’ll be, you’ll be in good shape.”
Hamm has not ventured into Venezuela in the past but in recent months made an expansion of the company’s drilling operations in the country of Argentina. The company announced it had signed an Assets Sale and Purchase Agreement with Pan American Energy to acquire certain non-operating interests in four blocks located within the Vaca Muerta shale play in Argentina’s Neuquén Basin. It came just two months after Hamm visited Argentina and met President Javier Milei.