Universal Bioenergy Inc. (PINK: UBRG), an independent diversified energy company engaged in the production and marketing of natural gas, petroleum, coal and propane, on Wednesday, announced that its subsidiary entered into a contract with largest gas utility in U.S. for natural gas storage.
NDR Energy, UBRG’s subsidiary, entered into an agreement for natural gas storage facility services with the largest natural gas distributor in the U.S. The agreement is expected to be a major game changer for NDR Energy and Universal Bioenergy.
Vince Guest, President of Universal Bioenergy, said that UBRG is very excited about the agreement. Guest said that gas storage will position UBRG to generate millions in potential sales and profits from gas trading, hedging, management, options, swaps and transportation.
Ken Harris, President of NDR Energy, meanwhile, said that in these challenging times in the natural gas industry, it is very critical for NDR Energy to diversify its income streams and position itself for growth as a multi-faceted energy company.
UBRG shares rose sharply on Wednesday. The stock ended the day 37.5% higher at $0.0220.
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