This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

(Graphic: Business Wire)

Standard & Poor’s announced today that it has commenced Factual Stock Report coverage Universal Bioenergy, Inc.

Universal Bioenergy, Inc. (OTC:UBRG) is an alternative energy company headquartered in Irvine, California. The company intends to develop and market a diverse line of natural and alternative energy products, including natural gas, oil, solar, biofuels, wind, synthetic fuels and related energy technology products.

On March 11, 2011, Universal Bioenergy announced that it set a new record in sales revenue of $41,292,201, for the year ending December 31, 2010. These revenues are preliminary and unaudited. On March 4, 2011, Universal Bioenergy announced that NDR Energy Group, had sales of $18.3 million, and sales volume of 4.10 billion cubic feet (Bcf) of natural gas for the months of January and February. On March 3, 2011, Universal Bioenergy announced that Progas Energy Services confirmed that it had struck oil and gas on several wells that it has drilled in Texas.

In April 2010, the company expanded into the natural gas energy market by acquiring a direct 49% financial interest in NDR Energy Group LLC. Additionally, an entity owned by officers of the company acquired an additional 2% financial interest in NDR Energy Group for a total direct and indirect financial interest of 51%. Universal Bioenergy believes this acquisition should provide it with distribution channels for marketing natural gas, oil, solar, biofuels, and other alternative energy products for its customers.

In December 2010, the company established a new subsidiary, Texas Gulf Oil & Gas Inc., which will develop oil and gas field projects and obtain products from the wellhead. The subsidiary will manage the transmission and marketing of the product to Universal Bioenergy's customers. Texas Gulf Oil & Gas subsequently entered into a joint venture agreement with ProGas Energy Services Inc., of Texas, to produce and supply natural gas and oil to customers of Universal Bioenergy and NDR Energy Group. The companies will jointly develop an oil and gas field located in the Premont Northwest Field, in Jim Wells County, Texas.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs