Oasis Petroleum Inc. (OAS) Losses?

Soreide Law Group (888-760-6552) has been contacted by investors who have suffered devastating losses after their broker/dealers recommended purchasing stock in the oil and gas company, Oasis Petroleum Inc. (OAS).
According to an article in MarketWatch, Oasis Petroleum Inc. shares OAS, -35.69% slid 26% in premarket trade Wednesday, September 30, 2020, after the company said it is filing for Chapter 11 bankruptcy with a prepackaged plan with creditors, aiming to reduce its debt by $1.8 billion.
The 52 week range is:  0.1900 - 3.6500
Oasis Petroleum Inc. (OAS) is the latest energy company to collapse due to weak oil prices and less demand during the coronavirus pandemic. "In light of a volatile market environment that drove a severe downturn in oil and gas prices, as well as the unprecedented impact of the COVID-19 pandemic, Oasis Petroleum engaged with its lenders and an ad hoc committee of noteholders regarding restructuring alternatives to reduce debt, increase financial flexibility and position the business for long-term success," the company said in a statement.
According to YahooFinance, Oasis Petroleum Inc. (OAS), is an independent exploration and production company, focusing on the acquisition and development of onshore unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin and the Texas region of the Delaware Basin. It also operates midstream services business. The company sells its crude oil and natural gas to refiners, marketers, and other purchasers that have access to pipeline and rail facilities. Oasis Petroleum Inc. was founded in 2007 and is headquartered in Houston, Texas.
Oasis Petroleum Inc. (OAS), according to MarketWatch, has secured a $450 million debtor-in-possession loan and has enough liquidity to maintain operations. The company expects to emerge from bankruptcy in November, which would be subject to court approval, and expects to have about $340 million of borrowings under a credit facility. Shares have fallen 87% in the year to date, while the S&P 500 SPX, 0.52 has gained 3.2%.
Oil and gas stocks, such as OAS, can be very risky, especially to clients with low to moderate risk tolerance in their portfolios.  Your broker/dealer has an obligation to explain these risks to you before you invest. By the time investors realize the risks, they may have already suffered devastating losses to their portfolios and/or their irreplaceable retirement funds.  It may be possible for investors to sue their brokers or financial advisors for losses caused by misrepresentations or unsuitable recommendations.
If you’ve suffered losses in Oasis Petroleum Inc. (OAS), due to the recommendation of your broker/dealer or financial advisor, you may have a claim against them to recover your losses.  Contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.