IRVINE, Calif., May 7, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces petroleum and coal, announced today that NDR Energy Group, its subsidiary located in Charlotte, North Carolina, recently began delivering gas to one of the largest natural gas distribution utilities in the U.S., in what is one of the largest transactions in NDR history.
On March 1, 2012, the Company announced that NDR Energy Group signed a contract to supply its customer with an estimated 25,000 mcf per day, or a total of 4.5 billion cubic feet (bcf) of natural gas for six months from April through October, with an estimated value of $11,475,000.
The gas distribution company supplies and delivers natural gas to over 20.9 million customers on the west coast. Its parent company, a Fortune 500 company, traded on the New York Stock Exchange, reported revenues of $10.0 billion in 2011, in its annual report.
Ken Harris, NDR Energy Group's CEO states, "As the CEO of NDR Energy, I am pleased to announce that we have started delivering natural gas relative to a long term deal with one of the largest utilities in the U.S. This transaction is extremely important as we have placed significant emphasis on completing term deals and transactions for electric power generation with our utility partners. This deal flows gas from April until the end of October at a rate of 25,000 MMBTU per day. It is a testament to the strength and persistence of our sales and development department that we are able to facilitate and execute these types of transactions during these challenging times for the natural gas industry. "
The contract limits NDR Energy from disclosing the customer's name and certain details of the transaction.
About NDR Energy Group LLC
Founded in 2005, NDR Energy Group, headquartered in Charlotte, N.C., is an energy company that markets and distributes natural gas and propane (HD-5), to major electric utilities and municipalities throughout the U.S. NDR provides energy management services to assist its clients in finding efficient and economic solutions. We also can provide other energy products such as refined petroleum products, energy efficient lighting systems and sustainable, alternative and renewable energy solutions to reduce our client's energy costs. For more information visit www.ndrenergy.com.
For more information contact: J.D. Hill, Director of Media Services at 704-323-2680
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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