IRVINE, Calif., Aug. 19, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (OTCQB:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, electricity, petroleum and coal, announced that its subsidiary, NDR Energy Group, was awarded another contract to supply natural gas to one of the largest natural gas distribution companies in the United States. The contract is expected to generate substantial revenues for the Company.
The customer provides natural gas to more than 2.2 million customers in a service territory that encompasses a large portion of the upper Midwest. In 2012 the customer's parent company, traded on the NYSE, reported revenues of over $3.9 billion, and over $14 billion in assets in its Annual Report. The contract limits NDR Energy from disclosing the customer's name and certain details of the transaction.
NDR Energy Group's President Ken Harris says, "We are very pleased with this transaction. We are seeing a very favorable upward trending at NDR. This is one of the earliest gas transactions that we have ever completed during a month. And, this sale is to a treasured customer that with whom we have a renewed relationship. We continue to grow our volumes of gas sales to the mid-western states. Additionally, we are pushing towards consistent sales in almost every geographic region in the United States. Over the next few weeks, we will be working diligently to finalize additional substantial gas transactions for September. This transaction is a great start concerning that goal."About Universal Bioenergy Inc. Founded in 2004, Universal Bioenergy Inc. is a publicly traded independent diversified energy company that produces and markets natural gas, electricity, 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.
CONTACT: Media Relations: Solomon Ali at 704-837-5705
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV