The new company will acquire interests in oil and gas properties and obtain major supplies of natural gas and petroleum directly from the producers at the wellhead for Universal Bioenergy.
Universal Bioenergy president Vince Guest said that Texas Gulf Oil & Gas was established as a direct result of the rising demand of fuel supplies that is required by Universal’s 22 major electric utility customers, and growing corporate customer base, through its subsidiary NDR Energy.
"The new company will contract directly with producers to obtain supplies of natural gas and petroleum from the wellhead, and manage the distribution of the product through the transmission pipelines," Guest said.
The products will be marketed and sold to the customers through NDR Energy.
Universal Bioenergy markets natural gas and green alternative energy, and is expanding into solar, biofuels, wind, synthetic fuels and related clean energy technology products.
