Concerned about investment losses in Reef Oil & Gas?
Have you suffered losses in a Reef Oil & Gas investment program? If so The White Law Group may be able to help you recover some of your losses through FINRA dispute resolution claim against the brokerage firm that recommended the investment.
Reef Oil & Gas is an independent oil and natural gas company launched in 1987. According to their website, “Reef is a leader in oil and natural gas exploration, production and property acquisitions. ” The company has grown substantially over the years, sponsoring a number of investment offerings
According to Reuters, “Of 34 deals Reef has issued since 1996, only 12 have paid out more cash to investors than they initially contributed, according to Reef’s latest publicly available financial statements. The statements show Reef sold an additional 31 smaller deals between 1996 and 2010 for which it collected a total of $146 million and paid out just $55 million.”
The White Law Group is investigating the liability that brokerage firms have for recommending high-risk oil and gas programs.
The firm has handled a number of claims involving Reef. In those claims, the firm has alleged, among other things, that the Reef investments were (1) high-risk and unsuitable for our clients given their financial situation, needs and investment objectives, (2) that the risks of the investment were not fully disclosed to them, and (3) that the brokerage firms failed to conduct the proper due diligence with respect to the Reef investments (as the firms are required to do by FINRA Rules).
The problem with oil and gas limited partnerships like those offered by Reef are exempt from registration with the Securities and Exchange Commission (SEC) and lack the same regulatory oversight as other investment products. These types of limited partnerships are also high-risk speculative ventures that often lack liquidity. In addition, limited partnerships offer extremely high commission fees that are often 3-4x higher than more traditional investments, like mutual funds or bonds.
Specifically, The White Law Group is investigating potential claims involving the following Reef offerings since 2010:
- Reef Oil & Gas Drilling & Income Fund, L.P.
- Reef 2011 Private Drilling Fund, L.P
- Reef 2012-A Private Drilling Fund, L.P
- Reef Bakken Bear Cat Drilling Fund,L.P
- Reef Capital Management, LLC
If you invested in a Reef Oil & Gas offering and would like to discuss your litigation options, please call The White Law Group at 888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. The firm represents investors in FINRA arbitration claims throughout the country. Visit our homepage to learn more about the firm.