Did Your Broker Recommend Investing in the Bakken Income Fund?

Soreide Law Group has heard from many investors whose brokers over-concentrated their portfolios in high-risk oil and gas investments creating devastating losses to their conservative portfolios.

The Bakken Income Fund filed for bankruptcy October 17, 2016 after raising $20.6 million from 309 investors according to a filing with the SEC in Feb. 2015.  They claimed they have under 50 creditors and between $1 million and $10 million in assets.  Bakken Income Fund has oil, gas and mineral leases as assets, and a variety of real property.

Bakken Income Fund is a shale oil investment fund managed by Coachman Energy Partners, a wholly-owned business of Greenwood Village-based Coachman Energy LLC. Coachman Energy has been investing in North Dakota’s Bakken shale since 2006. On the Coachman Energy website, it states that the company manages acquisition and development projects in North Dakota, Montana and Colorado.  Bakken Income Fund and Coachman are based in Colorado.

Bakken Income Fund and Coachman Energy Partners raise money by offering Regulation D private placements, which can be risky.  Private placements are unregistered securities and are not regulated with the same scrutiny as traditional stocks.  Some of the private placements offered by the Bakken Income Fund and Coachman Energy Partners are as follows:

Coachman Energy Land II LLC

Coachman Energy VI LP

Coachman Energy VIB LLC

Coachman Energy VII Offshore Feeder Fund LTD

Coachman Energy VII Onshore Feeder Fund LP

Bakken Drilling Fund III LP

Bakken Drilling Fund IV LP

Bakken Drilling Fund IVB LLC

If your broker/dealer did not do the proper due diligence when recommending these high-risk energy investments and you suffered losses in these or other funds, contact Soreide Law Group for a no-cost consultation regarding the possible recovery of your financial losses at:  888-760-6552.

Soreide Law Group operates on a contingency fee basis and we represent clients nationally before FINRA.

2017-04-18T17:16:29+00:00 April 18th, 2017|