Did your Broker Recommend an Investment in Mewbourne Energy Partners 17-A LP?
The White Law Group is investigating the liability that brokerage firms may have for improperly selling high-risk energy investments, like Mewbourne Energy Partners 17-A LP, to its clients.
Mewbourne Energy Partners 17-a, L.P. is a limited partnership engaged primarily in oil and gas development and production in Texas, Oklahoma and New Mexico, according to filings with the SEC. The Partnership’s properties consist primarily of interests in properties, on which oil and gas wells are located. It holds fractional working interests in developmental oil and gas prospects, located primarily in the Anadarko Basin of Western Oklahoma, the Texas Panhandle, and the Permian Basin of New Mexico and West Texas. The Partnership’s managing general partner is Mewbourne Development Corporation (MD). Mewbourne Oil Company (MOC) is the operator of oil and gas properties owned by the Company.
The company reportedly filed a form D to raise capital from investors in 2017 with the offering Mewbourne Energy Partners 17-A LP. The total offering amount sold to 698 investors was purportedly $50,650,000.
Unfortunately, some brokers may have downplayed the risks associated with oil and gas private placement investments. They may have misled investors into thinking that they are “safe” investment products. The high sales commission brokers earned for selling such products may provide some brokers with enough incentive to push the product to unsuspecting investors.
The energy market has seen enormous losses over the last few years due to the declining cost of oil and other energy commodities. These investments may seem wise at first, until the dramatic drop in distributions.
Prior to making recommendations to an individual investor, brokerage firms are required by the Financial Industry Regulatory Authority (FINRA) to disclose all the risks of an investment. Recommendations should only be made if the investment is suitable for an individual investor given their age, investment objections, investment experience and risk tolerance.
If a broker misleads a client or makes unsuitable investment recommendations they can be liable for investment losses.
Recovery of Investment Losses
If you are concerned about your investment in Mewbourne Energy Partners 17-A LP, the securities attorneys at The White Law Group may be able to help. Please call the offices at 888-637-5510 for a free consultation with a securities attorney.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois.