|By Marketwired .||
|March 19, 2014 03:15 PM EDT||
IRVINE, CA -- (Marketwired) -- 03/19/14 -- Universal Bioenergy Inc., (OTCQB: UBRG), a publicly traded independent diversified energy company that markets and distributes natural gas, petroleum, coal and electricity, announced that its subsidiary NDR Energy Group, was awarded a new multi-million dollar contract to supply natural gas to one of the largest gas and electric utility companies in the United States. NDR Energy Group is selling more natural gas in the market place to its electric utility customers and distributors due to the rising demand for natural gas.
The contract was awarded by one of the largest combination natural gas and electric utilities in the United States. The customer provides natural gas and electric service to approximately 15 million people throughout a 70,000-square-mile service area on the west coast. Its parent company is traded on the NYSE and reported revenues of $15.59 billion in its 2013 annual report.
The Company recently announced that NDR Energy Group sold an estimated $12.13 million in natural gas for the month of March 2014, which is the highest in the Company's history for the month of March. The $12.13 million in estimated sales for March 2014 equals 318% of the $3,809,176 in gross sales that NDR Energy posted in March of 2013.
Universal's President Vince M. Guest states, "We are very excited to be awarded this contract to supply natural gas to one of the largest gas distribution companies in the country. This provides us another opportunity to partner with another multi-billion dollar Fortune 500 company. NDR Energy Group continues to move at a very rapid pace to sell more gas on term deals and power generation to our existing and expanding customer base. The contract limits us from disclosing the customer's name and certain details of the transaction. We anticipate that we will be awarded many more contracts for larger transactions to increase our revenues and generate positive earnings for the Company in the near future."
Universal Bioenergy is a high growth diversified energy company that is experiencing double-digit growth. NDR Energy Group, a subsidiary of Universal Bioenergy, sells natural gas to many of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customer in the United States.
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
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
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