IRVINE, Calif., June 3, 2013 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., ( UBRG ), a publicly traded independent diversified energy company, that markets and distributes natural gas, electricity, petroleum and coal, announced that its subsidiary, NDR Energy Group, sold an estimated 1.51 billion cubic feet (Bcf) of natural gas to its customers in April. This set a new record of sales volume and revenues for the month of April for NDR Energy Group.
The 1.51 (Bcf) of estimated gas sold in April represents a 104.5% increase, or 0.77 billion cubic feet (Bcf), over the 0.74 (Bcf) of gas sold during the month of April in 2012. April 2013 revenues of $5.99 million exceeded the gross revenues of $1.4 million for April 2012, by $4.5 million or an increase of 321.43%. April 2012 revenues were low due to the decrease in the price of natural gas, high working gas inventories and the unseasonably warm winter last year.
The volume of estimated natural gas sold by NDR Energy is the highest in the Company's history for the month of April and tops the previous record sales of 1.4 billion cubic feet (Bcf) of gas sold in April of 2010 by 7.86%. April 2013 revenues of $5.99 million exceeded the previous record for gross sales set in April of 2010 when NDR had gross revenues of $5.50 million.
NDR Energy Group's President, Ken Harris says, "We are seeing a return to solid volumes as the natural gas industry has begun to rebound as a whole. Natural gas production appears to be decreasing and many of our customers are no longer substantially long on gas storage. We are finding very fertile ground for sales relative to both our old and new customers. Additionally, our revenues are stabilizing consistent with the growing stability in the marketplace. With the potential exportation of natural gas looming, we believe we are poised for substantial growth in the sales of natural gas sales in the coming years."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, electricity, 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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