Medanito takes legal action over lost oil field

Medanito takes legal action over lost oil field

Corporate & Sovereign Strategy Bonds Debt Loans M&A Latin America South America Argentina Gas Oil

Argentine oil company Medanito said it is taking legal action against Mendoza after the western province revoked its license to the Chañares Herrados oil field and awarded the rights to another operator, a move that pushed it into financial problems. The Buenos Aires-based company said it will seek damages to compensate for the loss, arguing that the province broke the Federal Hydrocarbon Law, according to a securities filing. On Friday, Mendoza awarded Chañares Herrados to a joint venture of Ar

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