Shale oil giant warns of high investment risks in Venezuela, oil companies entering need asset protection.

Shale oil billionaire Harold Hamm said that if oil companies are to help Venezuela restore oil production, they need assurances to ensure their assets will not be confiscated by Venezuela in the future. "There is a great deal of geopolitical risk in Venezuela. Exxon has operated there twice and both times their assets were nationalized," Hamm said in an interview on Thursday. "There must be safeguards to prevent this from happening. We have seen other companies suffer significant losses there." When asked if his Oklahoma City-based Continental Resources planned to enter Venezuela, Hamm said they are closely monitoring the geopolitical situation and geological conditions. "That's exactly what I have expressed to the president, and I believe many other executives have done the same," Hamm said.