Welcome!

News Feed Item

Progressive Equities LLC, Redhawk Resources LLC And Culbreath Oil And Gas Company Announce The Funding Of The $33,000,000 Redhawk Resources - Fund I

DALLAS, Aug. 19, 2014 /PRNewswire/ -- Jack Nichols, President of Progressive Equities, LLC announced completion of the funding of a new oil and energy partnership on behalf of Redhawk Resources-Fund I.  Progressive Equities LLC, Redhawk Resources LLC and Culbreath Oil and Gas Company are the companies creating the partnership. The $33,000,000 oil and gas offering consists of two primary assets; an approximate 22,000 acre 20 well drilling and leasing aggregation in NW Kansas and  a 1,200 plus acre production property in Okfuskee County Oklahoma.

Setting what is believed to be a new funding benchmark, the subscription process for the $33,000,000 fund was completed in a mere 17 days. Unfortunately, a significant number of investors were unable to participate because of high volume and the very fast sell-out. The companies attribute the success greatly to razor-sharp retail pricing of a lower-risk energy project, a beneficial balance of properties along with ownership of a hard asset in light of what has been perceived to be a difficult and choppy stock market.

The project will be managed by Redhawk Resources Management, LP. The partnership members are Jack Nichols, President of Progressive Equities, LLC, Jarrod Rogers, President of Redhawk Resources, LLC, and Charles and Chance Culbreath, principals of Culbreath Oil and Gas Company. Culbreath Oil and Gas Company, a substantial force in the Kansas and Oklahoma oil and gas arena, is the Operating partner.

The offering is another of the 506(c) platform models that has been developed by Progressive Equities, LLC. This business model is specifically designed to integrate successful oil and gas companies and their projects with active, qualified, accredited investors. Earlier in the year, Progressive Equities, LLC facilitated a $45,000,000 lease acquisition and drilling partnership using a similar platform. This is the second venture Progressive Equities has sponsored under the new 506(c) rules for direct participation in private placements. Jack Nichols, President of Progressive Equities, LLC acted as the Consultant to the Managing Partner on the $45,000,000 project.

The response to these offerings has been unprecedented. The business structure of the partnerships has been highly complimented by participants as one of the most 'client favorable' offerings they have seen. That combined with a conservative approach to asset selection and the direct solicitation feature of the 506(c) platform puts this type of investment in front of active investors who had formerly been limited to energy stock investments. Although the offerings are not without risk, which are prominently identified, the participants are allowed to get direct tax advantaged deductions along with potentially attractive returns.

Progressive Equities employs a strict set of qualifying standards for each energy property under consideration. Those which do not meet the standards are displaced by others meeting the criteria. The company is looking at other combinations of oil and energy properties that will fit this new and unique platform. Progressive Equities is aggressively reviewing other properties to use in their business model. The primary market seems to be wanting to see more of this unique style offering. "A new project is to be announced very soon", states Jack Nichols of Progressive Equities.

 

SOURCE Progressive Equities, LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.