SOURCE: Universal Bioenergy Inc.
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
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