Basic Energy Corporation (BSC) was originally incorporated as Basic Enterprises, Inc. on September 19, 1968 and became an oil and gas exploration and development company on April 26, 1971, assuming a new name, Basic Petroleum and Minerals, Inc. Over the years, BSC evolved from an operating company to a holding company under the corporate name, Basic Consolidated, Inc. In 2007, in line with the inclusion among its primary purposes the production of ethanol and other biofuels, and the development of other alternative and renewable energy sources, the Company changed its corporate name from Basic Petroleum Corporation to Basic Energy Corporation.
Basic Energy Corp. (BEC) has decided to abandon four hydropower service contracts awarded to the power firm last year, which are in Negros Occidental, to focus on its geothermal projects. “The board decided to return to the Department of Energy its four hydropower service contracts covering Puntian 1, Puntian 2, Malogo 2 and Talabaan,” the…read more
Basic Energy Corp. (BEC) will drill the first well in its Mabini Geothermal Project. Located in the Calumpan Peninsula, the Mabini Geothermal Sevice Contract 8 covers 3,841 hectares. Based on a pre-feasibility study, the area is projected to yield a capacity of between 20MW and 60MW. In a meeting of January 27, 2016, the BEC…read more