Progressive Equities, LLC Announces $45,000,000 Project Funding - WICU12 HD WSEE Erie, PA News, Sports, Weather, Events

Progressive Equities, LLC Announces $45,000,000 Project Funding

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SOURCE Progressive Equities, LLC

DALLAS, July 3, 2014 /PRNewswire/ -- Jack W. Nichols, President of Progressive Equities, LLC acted in the capacity of Consultant to the Managing Partner of a Texas Limited Partnership facilitating the funding of a $45,000,000 lease acquisition and drilling program located in South and East Texas. Using the new 506(c) Direct Investment rules and a financially congruent business plan as the platform, Progressive Equities and Mr. Nichols believe they have built a model which allows capital infusion into energy investments that are equally beneficial to the producer and investor.

Dr. Kent Moors (left) & Jack W. Nichols (right) inspect the $45MM project’s first well

The new rule conjoined with a streamlined business model has created a revolutionary investing environment. This combination provides opportunities for private investors to participate in the best oil and gas offerings which have been vetted to conform to the Company's stringent parameters. Mr. Nichols says Progressive Equities is planning announcements of additional offerings using a similar platform before the end of the year.

Progressive Equities, based in Dallas, Texas and was founded by Jack W. Nichols in 2011 for the purpose of fostering equitable oil and energy investments by joining private investors and commercial oil and gas production companies. Mr. Nichols believed the structure of oil and gas investments had been heavily slanted in favor of the oil company, or often more correctly 'promoting' company. The project's value would be priced and marketed to the Investor at a multiple of its actual initial cost. These type ventures got quickly out of sync as the sponsor made the lion's share of his profit as soon as a drill bit hits the ground, thus killing the incentive for that company to continue to work hard on behalf of the Investor.

Mr. Nichols states, "The team at Progressive Equities has a vision of developing make sense oil and gas investments that are more equitable to our investing partners." With that, certain principles were adopted as corporate guides for Progressive Equities, to achieve the success desired by the company. Projects are not 'wildcat' properties. That means no oil and gas pioneering. Wells are drilled in proven fields or developmental environments. The profit priorities of the Company and the Investor remain consistent with one another. In other words, the company does not get ahead of the Investor when it comes time to apportion out profits from the wells. Under the direction of Jack W. Nichols, the company employs the best practices possible when investing the partner's funds. Cost of acquisitions and operations are continually scrutinized to maximize the value of the product or service. All deals are somewhat different but one constant is wellhead profits are to be paid first to the partner before the company. Streamlined economics on the front end of each deal is compulsory. Per Mr. Nichols, the less it costs to get into a project, the less oil and gas need be produced to get to a profit point.

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