IRVINE, Calif., Oct. 22, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, propane, petroleum and coal, announced that its subsidiary, NDR Energy Group, sold over 1.53 billion cubic feet (Bcf) of natural gas, setting a new record for the month of September of 2012. The record sales of natural gas is expected to generate millions of dollars in additional revenue for the Company.
The volume of natural gas sold by NDR Energy, set a new record for September, and is the highest in the Company's history for September, and tops the previous record sales of 675,000 MMBTU's of gas sold in September of 2010. The 1.53 billion cubic feet of natural gas sold in September, is a 126.6% increase over the 675,000 million cubic feet of natural gas sold for the month of September 2010, despite the continued mild weather. Natural gas prices are continuing on a strong upward trend. The NYMEX Henry Hub Futures price has increased by $1.58 per mcf, or by 70%, from a low $2.052 per mcf in April, to $3.63 as of October 21, 2012.
NDR Energy Group's, President and CEO Ken Harris says, "I continue to be extremely proud of our performance and growth. Our September sales results from our growing emphasis on longer term transactions and swing transactions. These deals provide a new and critical foundation for our sales department. Additionally, they illustrate the strong relationships that we have with many of our electric utility partners. Our increased monthly sales to utilities across the country certainly indicate an active, aggressive and productive sales force. Moreover, term deals indicate that our electric utility partners have significant and advanced confidence concerning the quality of NDR Energy's products, services and our ability to deliver firm supplies of natural gas."
Universal Bioenergy is a high growth company, that generated over $71.74 million in revenues for the fiscal year ended December 30, 2011. Through its subsidiary, NDR Energy Group, it 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 customers throughout the country.
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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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.
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Source:Universal Bioenergy Inc.