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Basic Energy Corporation
|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. A year after, BSC assumed 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 to the present one.
As a holding company, BSC held equity investments in the following subsidiaries: Basic Diversified Industrial Holdings, Inc., an investment holding company; iBasic, Inc., an information technology management company and service integrator; Basic Biofuels Corporation, a biofuels developer; Basic Ecomarket Farms, Inc., an agricultural company; Basic Geothermal Energy Corporation, which is into geothermal energy development; and Southwest Resources, Inc., an oil exploration company.
BSC was awarded by the Department of Energy (DOE) a total of five service contracts for the exploration and development of geothermal energy at Mabini, Batangas; Mariveles, Bataan; East Mankayan; Benguet; Mountain Province; ifugao; Iriga, Camarines Sur; Albay; and West Bulusan, Sorsogon. The Company was also previously awarded by the DOE four hydro-power service contracts all located in Negros Occidental, but BSC has recently submitted its intent to withdraw from the said service contracts in order to focus on its drilling operations in Mabini, Batangas.
Source: SEC Form 17-A (2015)
|Subsector||Electricity, Energy, Power & Water|
|Incorporation Date||Sep 19, 1968|
|Number of Directors||11|
|Stockholders' Meeting as per By-Laws||Per By-Laws: March; For 2011: 29 June 2011, Record Date: 08 June 2011, Circ. No. 2981-2011|
|Fiscal Year||12/31 (Month/Day)|
|External Auditor||Punongbayan & Araullo|
|Transfer Agent||Rizal Commercial Banking Corporation - Stock Transfer Dept.|
|Business Address||7/F Basic Petroleum Building, 104 Carlos Palanca, Jr. St., Legaspi Village, Makati City 1229|
|Telephone Number||817-8596 to 98|