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UNITED STATES : UBRG Awarded Contract with Major Gas Utility for $11.47 Million
Publish Date : 03-Mar-2012
Universal Bioenergy Inc., a publicly traded independent diversified energy company, announced today that NDR Energy Group, its subsidiary, was awarded a contract to supply natural gas to one of the largest natural gas distribution utilities in the country. Under the terms of the contract NDR Energy Group is to supply the customer with an estimated 25,000 mcf per day, or a total of 4.5 billion cubic feet (bcf) of natural gas for six months from April through October, with an estimated value of $11,475,000.
The gas distribution company supplies and delivers natural gas to over 20 million customers on the west coast. Its parent company, a Fortune 500 company, traded on the New York Stock Exchange, reported revenues of $9.0 billion, including $4.3 billion from natural gas sales and transportation in 2010, in its annual report.
Vince M. Guest, Universal’s President states, “We are very excited about the award of this new contract to supply natural gas to one of the largest utilities in the country. This is another major milestone for our company and demonstrates the hard work of NDR Energy Group and the strong relationships we are building in the energy industry. We are working to obtain additional contract awards with several other major electric and gas utilities to increase our revenues. Our ability to obtain contract awards with Fortune 500 energy companies demonstrates the confidence these companies have in us to supply them safe and reliable supplies of natural gas. This is an outstanding achievement for NDR Energy for successfully closing another great transaction.”
The contract limits NDR Energy from disclosing the customer’s name and certain details of the transaction.
