Universal Bioenergy's NDR Energy Group Signs New Natural Gas Supply Contract With One of Largest Gas Producers in the World, ...
May 02 2014 - 11:50AM
Marketwired
Universal Bioenergy's NDR Energy Group Signs New Natural Gas Supply
Contract With One of Largest Gas Producers in the World, and Starts
Full Operations
Relationship Greatly Enhances NDR's Capabilities to Supply Its
Utility Customers Across the Country and Puts Greater Emphasis on
Producer Relationships and to Increase Profit Margins
IRVINE, CA--(Marketwired - May 2, 2014) - 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, signed a new contract to obtain natural gas supplies with
one of the largest natural gas producers in the world. The
relationship with the natural gas producer is now in complete
and full operations. The relationship with this major supplier
will give NDR Energy Group strategic access to major supplies of
natural gas to supply its electric utility customers
nationwide.
NDR Energy Group established this contractual relationship with
one of the largest independent oil and natural gas exploration and
production companies in the world. The public company operates in
30 countries worldwide and reported over $58.24 billion in revenues
in its Annual Report. NDR Energy Group is pursuing new gas supply
agreements directly with major exploration companies and producers
of natural gas to obtain better pricing to increase the Company's
margins and profits.
NDR Energy Group's President and CEO, Ken Harris, stated,
"Following our recent meetings in Houston, we worked at an
accelerated pace to execute all of the required contracts and
documentation necessary to bring this relationship to life. Because
of the size and strength of this supplier, we were required to
execute new payment related documentation with many of our utility
customers across the country. Last week, we were able to obtain our
first quotation to purchase natural gas from our new supplier. By
virtue of this new relationship, we now have an extensive slate of
very strong suppliers. This new dynamic enhances our capability to
meet the extensive volume and delivery point requirements of our
customers in each geographic region. While we are pleased with our
current situation, I must note that we are now in discussions with
two additional top five gas producers. I anticipate completing both
a NAESB gas purchase agreement and an ISDA agreement with one of
those producers 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
For inquiries contact: Media Relations: Solomon Ali at
704-837-5705
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.
Media Relations: Solomon Ali 704-837-5705