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.
Oil manifestation has been upping the ante for local firm Basic Energy Corporation on eventual production at one of its drilled petroleum wells in Indonesia. The company, in a disclosure to the Philippine Stock Exchange, has noted that subsequent wire logging at the fourth well (BES-4) it drilled “reveals three potential reservoir zones indicating good…read more
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