In 1983, anticipating the de-regulation of the crude oil and natural gas markets, Nichols and two associates founded Northridge Canada Inc. which became Canada's largest privately held crude oil and natural gas trading company.

Gasland grew to have over 50 branded petroleum outlets in Western Canada, many with convenience stores and other customer facilities.

[1] As of 2021[update] it owned 16 retail properties in Alberta, including gas stations, liquor stores, and cannabis shops.

[5] In 2014, he was named to the Order of Canada[6] which was established in 1967 to acknowledge citizens who have "... outstanding achievement, dedication to the community and service to the nation."

The Oilers were in financial difficulties but could receive league assistance if they could sell 13,000 season tickets and 90 percent of corporate boxes.

[8] The success of the Oilers brought a US$145 million offer from local billionaire Daryl Katz for the franchise, although Nichols subsequently said the team was not for sale.

[9] Nichols said the attempts to buy the team have caused "collateral damage" and he hoped the outright refusal brings closure to a vocal debate that has divided the group and the wider community since Katz's first offer.

[8] On December 13, 2007, Katz submitted a fourth formal offer to EIG to buy the franchise.

The offer was accepted and Nichols resigned as chairman of the board of directors for the EIG in December 2007.