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Articles Tagged with Energy 11

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Investors in Energy 11, L.P. (“Energy 11” or the “Partnership”) may be able to recover investment losses through FINRA arbitration. if their investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature of the investment was misrepresented by the stockbroker or advisor.

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Energy 11 has published an estimated per common unit  net asset value (NAV) of its common units of $7.23 per unit as of December 31, 2020.  On January 25, 2021, the Partnership filed a Form 8-K with the Securities and Exchange Commission announcing the drop in estimated NAV and explaining its assumptions and valuation methodology.

The Form 8-K is accessible here Form 8-K.

Published on:

Investors in Energy 11, L.P. (“Energy 11” or the “Partnership”) may be able to recover investment losses through FINRA arbitration. if their investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature of the investment was misrepresented by the stockbroker or advisor.

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On March 19, 2020, Energy 11 announced that it would suspend distributions to limited partners until further notice, citing “recent volatility in the market and oil prices in particular” that “has caused uncertainty to our cash flow for the remainder of 2020.  In December 2020, Energy 11 announced that it would continue to accrue distributions indefinitely, meaning that the distributions will not be paid to investors at least in the coming months of early 2021.

During January and February 2020, Energy 11 had reportedly borrowed $14 million on its revolving credit facility to fund capital expenditures for the Partnership’s in-process drilling program; these borrowings increased the outstanding balance on the revolving credit facility to $38 million.  The commitment amount for the revolving credit facility was $40 million, meaning that Energy 11 had nearly exhausted its available revolving credit.

Published on:

Investors in Energy 11, L.P. (“Energy 11”) may be able to recover investment losses through FINRA arbitration. if their investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature of the investment was misrepresented by the stockbroker or advisor.

Oil Drilling Rigs
On March 19, 2020, Energy 11 announced that it would suspend distributions to limited partners until further notice, citing “recent volatility in the market and oil prices in particular” that “has caused uncertainty to our cash flow for the remainder of 2020.”  Energy 11’s letter announcing the suspension is accessible here. ex_178082

Energy 11 has published an estimated per common unit value of its common units of $13.82 as of December 31, 2019.  However, this value may be premised in part on oil prices of over $50 a barrel that prevailed in 2019.  Oil prices have since plummeted to less than $30 a barrel as of this writing in March 2020.

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