IRVINE, Calif., July 9, 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 1.86 billion cubic feet (Bcf) of natural gas, setting a new record for the month July, that will generate millions in additional sales revenues.
The volume of natural gas sold by NDR Energy, set a new record for July, and is the highest in the Company's history for July, and tops the previous record sales of 971.13 million cubic feet of gas in July of 2006. The 1.86 billion cubic feet of natural gas sold in July, is a 300.37% increase over the 619.24 million cubic feet of natural gas sold for the month of July 2011. These sales have already been booked, and sold, and the gas is currently being shipped to its electric utility customers and local distribution companies (LDC) for July.
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 29 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.
The U.S. Energy Information Administration, in its Natural Gas Weekly Update Report for June 27, 2012, stated, "Natural gas prices generally registered overall increases for the report week ... at many of the country's trading locations. The natural gas futures market trended steadily higher over the week. The Henry Hub day-ahead price registered an overall increase for the week. Prices rose every day to close 25.7 cents per MMBtu higher, reflecting, in part, an anticipated return to above-normal temperatures for several parts of the nation."
NDR Energy Group's, President and CEO Ken Harris says, "These are historic times for our Company. Some time ago, we revised our sales priorities to emphasize a combination of monthly, term and generation related sales. This new focus has allowed us to enhance our productivity even in what have traditionally been challenging periods of the year. Kudos to Rickey Hart, Gina Roy and the entire sales team for their efforts in making this a very successful July. Moving forward, I am extremely optimistic as we approach the portion of the year when we anticipate substantially increased volume. We have a ton of momentum. And, I expect a strong finish this year."
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
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784
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.