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.
PT Basic Energi Solusi (PT BES), a subsidiary of Basic Energy Corporation (PSE: BSC) reported that as of November 4, 2014, the third well (BES-3) has commenced production testing. Actual data will be collected for analysis and shall be provided separately upon completion of the production testing. The test is to determine flow rates using…read more
MANILA, Oct. 14 — Basic Energy Corporation’s third well (BES-3) in Indonesia, with Petrosolve Sdn Bdn of Malaysia, has reached its target depth of 460 meters. ”PT Basic Energi Solusi, a subsidiary of Basic Energy Corporation reported that as of Oct. 13, 2014, the third well (BES-3) has reached its total depth of 460 meters…read more