U.S. Driller Failed To Conduct ‘Due Diligence’ On Slovakian Licenses, Tribunal Finds

Mealey's ( March 24, 2025, 10:44 AM EDT) -- WASHINGTON, D.C. — The International Centre for Settlement of Investment Disputes (ICSID) on March 21 published a tribunal’s award rejecting a U.S. oil exploration and drilling company’s claims against the Slovak Republic for more than $135 million and ordered it to pay Slovakia roughly 2.3 million euros in attorney fees and costs, after finding that the company failed to conduct due diligence and abandoned its drill sites rather than pursue available remedies....