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
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
"Storpool does only block-level storage so we do one thing extremely well. The growth in data is what drives the move to software-defined technologies in general and software-defined storage," explained Boyan Ivanov, CEO and co-founder at StorPool, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...