Did Your Broker Recommend Pengrowth Energy Corporation (PGH)?

Soreide Law Group is investigating claims by investors whose brokers recommended they invest heavily in Pengrowth Energy Corporation (PGH) and have lost a major portion of their investment, some up to 95%.
Pengrowth Energy Corp’s 52 week range: 0.45 - 2.53
Pengrowth Energy Corporation engages in the acquisition, exploration, development, and production of oil and natural gas assets in the Alberta, British Columbia, Saskatchewan, and Nova Scotia provinces in Canada. It explores for crude oil, bitumen, natural gas, shale gas, and natural gas liquids. The company primarily holds a 100% interests in the Lindbergh oil sands property covering an area of 20,800 net acres situated in Calgary, Alberta; and a 90% interests in the Groundbirch property covering an area of 12,536 net acres located in Fort St. John, British Columbia. Its principal assets also comprise Greater Olds/Garrington area located in Calgary, Alberta; and the Swan Hills area situated in Edmonton, Alberta. As of December 31, 2015, the company had total proved plus probable reserves of 569.1 millions of barrels of oil equivalent. Pengrowth Energy Corporation was founded in 1988 and is headquartered in Calgary, Canada.
Even though Pengrowth reduced it’s debt by $173 million during the first quarter of this year, it still has more work to do given the amount of debt it has maturing next year.  At the end of the first quarter Pengrowth had $1.68 billion of debt outstanding, which is a lot considering it is a $3.1 billion company. If Pengrowth wants to survive, it needs to complete its targeted asset sales while also redeeming additional debt at a discount.
With dozens of oil and gas companies going bankrupt in just the past few months, many investors are beginning to realize the recommendations of their stock brokers and financial advisors to invest heavily in the energy stocks was a huge mistake.  Their otherwise conservative, retirement-oriented portfolios have slowly disappeared and now they are facing financial crisis and a change in lifestyle.  If your broker recommended a high concentration in the highly volatile and risky oil and gas stocks like PGH, and you’ve experienced losses, call Soreide Law Group for a no-cost consultation with an attorney on the possibility of recovering your losses at:  888-760-6552.
Soreide Law Group represents our clients nationwide.  We operate on a contingency fee.