Universal Bioenergy's NDR Energy Group Awarded Natural Gas Supply Contract With Major Gas Utility
IRVINE, Calif., Feb. 13, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, announced today that NDR Energy Group, its subsidiary, was awarded a contract to supply natural gas to one of the largest natural gas distribution utilities in the country. Under the terms of the contract, NDR Energy Group is to supply the customer with an estimated 20,000 mcf per day, or a total of 560 million cubic feet of natural gas for the month of February. The contract is projected to generate millions of dollars in additional revenue.
The gas distribution company supplies and delivers natural gas to over 20 million customers on the west coast. Its parent company, a Fortune 500 company, traded on the New York Stock Exchange, reported revenues of $9.0 billion, including $4.3 billion from natural gas sales and transportation in 2010, in its annual report.
Vince M. Guest, Universal's President states, "The award of this new contract to supply natural gas to one of the largest utilities in the country is great progress for the Company. This is a tribute to the hard work and aggressive marketing efforts of NDR Energy Group to continue to build strong relationships in the energy industry. Work is ongoing to secure additional contract awards with our current and new customers for sales of gas for term transactions, power generation, spot market and daily sales of natural gas. We are working to obtain additional contract awards with several other major electric and gas utilities to increase our revenues and profits."
The contract limits NDR Energy from disclosing the customer's name and certain details of the transaction.
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
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