IRVINE, CA--(Marketwired - Mar 28, 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 senior executives of its subsidiary NDR Energy Group completed its business summit and high-level meetings with its natural gas suppliers and customers that are headquartered in Houston, Texas. NDR Energy's Executive Team was led by President and CEO Ken Harris and Rickey Hart, Vice President of Business Development. The final high-level meetings were held with the second of two of the largest oil and gas producers in the world.
The parties have agreed to move forward with an agreement for NDR Energy Group to obtain large natural gas supplies with these world class natural gas suppliers. The relationship with these suppliers will give NDR Energy Group strategic access to major supplies of natural gas for its electric utility customers for distribution and power generation throughout the entire United States. This would give NDR Energy Group the potential to grow into a major U.S. natural gas marketing company.
NDR Energy also had discussions regarding entering into a potential ISDA (International Swaps and Derivatives Association) Agreement, to participate in the energy market for over-the-counter derivatives. An ISDA Agreement would provide NDR Energy Group additional access to both natural gas and power/electricity supply for its utility customers across the United States.
NDR's CEO, Ken Harris, stated, "We have a very strong customer base. That foundation includes large utility customers in just about every region in the United States. Our strong customer relationships and history of productivity provide us a foundation for meaningful discussions with some of the largest producers in the world. As a result, we are able to activate and enhance these existing supplier relationships to the benefit of our clients. I am especially excited about the upcoming increase in our ability to market wholesale power and electricity. We set this as a critical goal when we obtained our FERC license. This new contractual relationship will greatly enhance our capabilities in both the gas and power verticals. All in all, the Houston meetings were tremendously productive."
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
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