PXP Energy Corporation (PXP or the Company),, is a Philippine corporation organized in December 2007 and listed on the second board of the Philippine Stock Exchange on September 12, 2011 (stock symbol: PXP).
The Company is mainly involved in the exploration, maturation, and production of local and international hydrocarbon resources. Currently, it has interests in various petroleum Service Contracts (SCs) in the Philippines held directly and through its major subsidiary, Forum Energy Limited (FEL).
The Company’s direct interests in Philippine petroleum SCs include:
PXP holds a 79.13% controlling interest in FEL, with 72.33% held directly and 6.80% held indirectly through a 78.39%-owned subsidiary, FEC Resources, Inc. (FEC).
FEC is a Canadian public company registered with the U.S. Securities and Exchange Commission, the Alberta Securities Commission, and the British Columbia Securities Commission, and quoted in North America.
FEL is a company incorporated in the United Kingdom, with focus on the Philippines. It has:
PXP also holds a 100% controlling interest in Pitkin Petroleum Limited (Pitkin), an upstream oil and gas company registered in the United Kingdom.
PXP owns 100% of Brixton Energy & Mining Corporation (BEMC).
A summary of the exploration and production assets held by PXP and its subsidiaries are as follows:
Assets | Location | Area km2 | Interest | Operator | Status |
---|---|---|---|---|---|
SC 74 Linapacan | Offshore Northwest Palawan | 3,188 | 70% | PXP Energy Corporation | Exploration |
SC 75 Northwest Palawan | Offshore Northwest Palawan | 6,160 | 50% | PXP Energy Corporation | Exploration |
Area 7 | Sandakan Basin, Sulu Sea | 3,580 | 40% | The Philodrill Corporation | Under application for an SC with the DOE |
Block A Recto Bank | North of Recto Bank, Offshore Northwest Palawan | 14,300 | 100% | PXP Energy Corporation | Under application for an SC with the DOE |
Octon Block | Offshore Northwest Palawan | 1,600 | 6.84% | PXP Energy Corporation | Under application for an SC with the DOE |
Assets | Location | Area km2 | Interest | Operator | Status |
---|---|---|---|---|---|
SC 6B Bonita (including Cadlao) | Offshore Northwest Palawan | 567 | 2.4546% | Nido Petroleum Philippines Pty Ltd | Production |
SC 14C-1 Galoc | Offshore Northwest Palawan | 163 | 3.2103% | NPG Pty Ltd | Production |
SC 14C-2 West Linapacan | Offshore Northwest Palawan | 176.5 | 9.103% | The Philodrill Corporation | Appraisal & Redevelopment |
SC 40 North Cebu | Northern Cebu | 3,400 | 100% | Forum Exploration, Inc. | Production |
SC 72 Recto Bank | Offshore Northwest Palawan | 8,880 | 70% | Forum (GSEC 101) Limited | Exploration |
Octon Block | Offshore Northwest Palawan | 1,600 | 6.84% | The Philodrill Corporation | Under application for an SC with the DOE |