After the dramatic ouster of strongman Nicolás Maduro, President Trump and his new counterpart in Venezuela urged major energy companies like Exxon Mobil and ConocoPhillips to usher in a golden age of oil prosperity in the Latin American country.

But Exxon and Conoco, still leery two decades after Venezuela nationalized their assets there, are taking their time. Instead, a much smaller California oil producer backed by European investors, Pacific Coast Energy, is among several private firms suddenly positioned to grab some of the first assets made available by Venezuela in a new era for its oil industry.

Pacific Coast's grab at some of the first assets made available under the interim government has spurred complaints from a local business dynasty. Pacific Coast's new Latin America foray has the Cisneros business dynasty crying foul.