Universal Property Development and Acquisition Corporation (UPDA.OB) operates as a holding company focusing on the exploration, development, production, storage, distribution and blending of oil and natural gas. The company’s operating strategy causes it to own controlling interests in energy-related businesses while providing the funding to develop energy reserves and new cutting-edge technologies. This plan enables the company to expand and diversify its asset portfolio and operations while broadening its knowledge base and expertise.
Operation by Universal Property Development and Acquisition Corp. is through six majority owned subsidiaries. One subsidiary, Continental Fuels, engages in energy trading activities while the remaining five subsidiaries: UPDA Operators, Inc., Catlin Oil & Gas, Inc., Canyon Creek Oil & Gas, Inc., Aztec Well Services, Inc., and Heartland Oil & Gas Corp. are involved in the exploration and production of oil and gas.
Low-risk oil and gas prospects that offer high net revenue interests are the company’s main focus. Risks are minimized by utilizing advanced technologies for geological interpretation, drilling, geophysics and production engineering. The demand for oil is known and felt worldwide. The consumption of oil is expected to remain strong for the foreseeable future based on population growth and economic growth.
Advanced improvements in technology will also aid in the world consumption of oil. The United Nations has predicted that the world population will grow from 6.4 billion in 2004 to 8.1 billion by 2030. Prediction and fact show that demand for energy will increase substantially over time.
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