Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating investors who have suffered losses in in now bankrupt oil and gas company, BPZ Resources, Inc. (BPZ Resources) (Stock Symbols: BPZRQ and BPZ) BPZ Resources is an independent oil and gas exploration and production company with license contracts covering approximately 1.9 million net acres in four properties in northwest Peru. BPZ Resources filed for chapter 11 bankruptcy in March 2015.
Our offices continue to report on investment losses suffered by investors in various oil and gas investments that brokerage firms have increasingly recommended to retail investors in recent years. These investments include private placements, master limited partnerships (MLPs), leveraged ETFs, mutual funds, and individual stocks. See Overconcentrated in Oil and Gas Investments?, MLP Fund MainStay Cushing Royalty Energy Hurt by Failing Oil & Gas Prices; Oil and Gas Investments – Issuers Profit While Investors Take All the Risk, BlackGold Opportunity Fund Investors Suffer Losses
Oil and gas related investments have been recommended by brokers under the assumption that oil & gas would continue to be sold at around $100 and increase steadily over time. However, last summer the price of oil & gas plummeted due to a strengthening dollar and increased global supply of oil and remains below $60 to this day. Some experts are saying that if production volume continues to be as high as it currently is and demand growth weak that the return to $100 a barrel is years away.