UBRG News Universal Bioenergy's NDR Energy Sells 1
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UBRG News Universal Bioenergy's NDR Energy Sells 1.86 Billion Cubic Feet of Natural Gas for July, Volume Up 300%
2012-07-09 06:00 ET - News Release
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."
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