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 Corporation (PSE: BSC) and Trans-Asis Oil and Energy Development Company (PSE: TA) signed a Joint Operating Agreement (JOA) for Mabini Geothermal Service Contract No. 8. In a disclosure to the Philippine Stock Exchange Tuesday 03 November 2015, BSC said the purpose of the Joint Operating Agreement (JOA) is to establish the respective rights…read more
BASIC Energy Corp. is all set to complete a joint development deal with Trans-Asia Oil and Energy Development Corp. on a geothermal power project with a potential capacity of at least 20 megawatts (MW). The Department of Energy (DOE) has sent a letter to Basic Energy signifying its approval of the agreement between the two…read more