IRVINE, Calif., Nov. 5, 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, located in Charlotte, NC, sold over 1.24 billion cubic feet (Bcf) of natural gas for the month October, that will generate millions in sales revenues.
The volume of natural gas sold by NDR Energy is anticipated to be the highest in the Company's history for the month of October, and tops the previous record sales of 1.08 billion cubic feet (Bcf) of gas sold in October of 2011. The 1.24 billion cubic feet (Bcf) of natural gas sold in October represents an increase of 14.29%, or over 155 million cubic feet more than the amount of gas sold during the same month in 2011.
NDR Energy Group's, President and CEO Ken Harris says, "On October 10, 2012 the U.S. Energy Information Administration ("EIA") released its "Short-Term Energy and Winter Fuels Outlook". The EIA projects average household expenditures for heating oil and natural gas will increase by 19 percent and 15 percent, respectively, this winter (October 1 through March 31) compared with last winter. The EIA expects that natural gas consumption will average 69.8 billion cubic feet per day (Bcf/d) in 2012, an increase of 3.1 Bcf/d (4.7 percent) from 2011. The increases in domestic production, theoretically, could lead to long storage and reduced demand by some of our customers. However, the growing diversity of natural gas usage, including for electricity generation, has created more opportunities for us in the marketplace. Domestic natural gas usage is fueling a reduction in reliance on imported fuels. Additionally, NDR is substantially positioned to benefit from this increasingly diverse usage and self-reliance. Our sales team continues to position us for record growth and revenues by emphasizing our strong customer relationships and being nimble relative to the changing marketplace. Our projected record sales in October are a reflection of our dedication, relationships and favorable new dynamics concerning natural gas usage in the US."
Universal Bioenergy is a high growth company, that generated over $71.74 million in revenues for the fiscal year ended December 30, 2011. NDR Energy Group, 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. NDR Energy Group, has contracts signed with 30 major electric utility companies 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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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.