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PXP Energy Corporation

Company Description
PXP Energy Corporation (PXP), formerly Philex Petroleum Corporation, was incorporated on December 27, 2007. PXP's primary business is the exploration and production of crude oil and natural gas, through interests in petroleum service contracts (SCs) and holdings in resource development companies with interests in petroleum SCs. On August 8, 2016, the Securities and Exchange Commission approved the change in name to the present one.

The Company's direct interest in Philippine petroleum SCs includes a 50% operating interest in SC 75; a 70% operating interest in SC 74; and a 5.56% interest in SC 6A; all located in the Northwest Palawan. PXP also has a 40% non-operating interest in the Department of Energy (“DOE”) Philippine Conventional Energy Contracting Program (“PCECP”) Area 7 (Sulu Sea) and a 100% operating interest in Block A North Recto Bank (Nominated Area No. 6) located in offshore West Palawan, both of which are currently pending award from the DOE.

PXP has interests in various petroleum SCs in the Philippines and Peru held directly and through a 100% interest in Pitkin Petroleum Limited (PPL) and 72.33% interest Forum Energy Limited (FEL). PPL is an international upstream oil and gas company registered in the United Kingdom with operations in Peru. PPL has a 25% participating interest in Peru Block Z-38 located in offshore Tumbes Basin. FEL, meanwhile, has a 70% operating interest in SC 72 Recto Bank which covers the Sampaguita natural gas discovery in offshore West Palawan; 100% operating interest in SC 40 North Cebu; and minority interests in the SC 6 and SC 14 sub-blocks in offshore Northwest Palawan, including a 3.2103% interest in the producing Galoc field.

The Company owns 100% of Brixton Energy Mining Corporation, which is engaged in exploration development and utilization of energy-related resources.

Source: SEC Form 17-A (2022)
Security Information
Sector Mining and Oil
Subsector Oil
Corporate Life
Incorporation Date Jul 19, 1995
Number of Directors 9
Stockholders' Meeting as per By-Laws
Fiscal Year 12/31 (Month/Day)
External Auditor SyCip, Gorres, Velayo & Company
Transfer Agent Stock Transfer Service, Inc.
Contact Information
Business Address 2/F, LaunchPad Reliance corner Sheridan Streets, Mandaluyong City
E-mail Address
Telephone Number (02) 8570-0686
Fax Number (02) 8631-1381