Articles Tagged with Dune Energy

shutterstock_29356093The investment attorneys at Gana Weinstein LLP continue to report on investor losses in oil and gas related investments. Our firm is investigating potential securities claims against brokerage firms over sales practices related to the recommendations of oil & gas and commodities products such as exchange traded notes (ETNs), structured notes, private placements, master limited partnerships (MLPs), leveraged ETFs, mutual funds, and individual stocks. See Oil and Gas Investments – What Remedies Do Investors Have?; Overconcentrated in Oil and Gas Investments?; Oil and Gas Investments – Issuers Profit While Investors Take All the Risk; Atlas Energy Oil and Gas Investments: A Risky Proposition Part I; Gana Weinstein LLP Investigates Investor Losses Tied to Oil and Commodities Linked ETNs; Gana Weinstein LLP Investigates Investor Losses In Oil-Linked Structured Notes

According to a recent news article tracking oil and gas bankruptcies the pain in the industry is expected to continue. Nearly two dozen oil and gas companies have gone bankrupt in the past year including RAAM Global Energy Co., Endeavour International Corp. (ENDRQ), Quicksilver Resources Inc. (KWKAQ), Sabine Oil & Gas Corp. (SOGCQ), Hercules Offshore Inc. (HEROQ), Cal Dive International Inc. (CDVIQ), Dune Energy Inc. (DUNRQ), BPZ Resources Inc. (BPZRQ), ERG Intermediate Holdings LLC, American Eagle Energy Corp. (AMZGQ), Saratoga Resources Inc. (SARAQ), Milagro Oil & Gas Inc., and Miller Energy Resources Inc. (MILLQ). Canadian companies that entered bankruptcy include Verity Energy Ltd., Gasfrac Energy Services Inc., Southern Pacific Resource Corp., Laricina Energy Ltd., and Shoreline Energy Corp.

Not only have oil and gas companies gone bankrupt but companies that provide services to oil and gas companies have also been effected including A&B Valve and Piping Systems LLC, CCNG Energy Partners LP, and Boomerang Tube LLC.

shutterstock_39128059The law offices of Gana Weinstein LLP are currently investigating investors who have suffered losses in in now bankrupt coal company, Patriot Coal Corp (Stock Symbols: PCX) (Patriot Coal). Patriot Coal is the third largest coal producer in the eastern US. Patriot Coal has operations in the eastern US in Central Appalachia, Northern Appalachia, and the Illinois Basin.

According to Reuters, Patriot Coal filed for bankruptcy protection on in May 2015, just 18 months after emerging from its previous Chapter 11. The bankruptcy filing has been prompted by low energy prices. In order to support its mining and marketing operations during bankruptcy, the company has secured up to $100 million in financing. Patriot Coal has listed assets and liabilities of more than $1 billion in its bankruptcy petition. Patriot Coal also has 1.4 billion tons of proven and probable coal reserves. In the prior bankruptcy, Patriot received an agreement with its former parent Peabody Energy to provide $400 million to cover health care benefits for retired mine workers.

Patriot Coal is only one of several energy related companies our firm has been tracking through bankruptcy including Xinergy Ltd, Dune Energy Inc, BPZ Energy Inc, RAAM Global, Sabine Oil & Gas Corp., and Quicksilver Resources Inc. In addition, Walter Energy Inc, another coal produce, has skipped an April interest payment on its debt

Contact Information