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.
An offshore investment arm of Basic Energy Corporation has reached “production testing” on one of its drilled wells for oil extraction prospect in Central Java, Indonesia. The publicly-listed Filipino firm has disclosed to the Philippine Stock Exchange (PSE) that its fourth well has already reached its targeted depth of drilling and is now moving on…read more
PT Basic Energi Solusi, a unit of Basic Energy Corp., is preparing for possible oil production in a fourth well it drilled in Central Java, Indonesia. “In the next few days, the hole shall be prepared for wire logging and production testing. After a successful production testing, further studies will be undertaken to bring the…read more