Subsidiaries

2017

With a vision of “A Future for All”, PXP Energy Corporation (“PXP”), formerly known as Philex Petroleum Corporation, continues to manage prudently its exploration and production activities and strengthens its financial performance to ensure a brighter tomorrow for all its stakeholders across different generations.

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2016

The cover design, featuring an oil platform with superimposed images of a coral reef, captures the premium that PXP Energy has committed to the environment. Beyond financial performance, the Company is also one with the community in making the world a better place to live in.

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2015

The cover photo, the semi-submersible rig utilized during Galoc Oil Field’s Phase 2 Development, symbolizes the company’s unwavering commitment to explore, produce and develop existing petroleum assets -- whether frontier areas or well-established producing oil fields, amidst wild waves and strong currents driven by the petroleum energy downturn.

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2014

The cover design symbolizes the symmetry between the Company’s objective and the Government’s goal of developing sustainable indigenous energy sources to fuel the country’s drive towards economic development and energy security. It also depicts the importance of achieving the right balance between energy development and environmental preservation in the global energy industry.

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2013

The cover design illustrates the contribution of Philex Petroleum towards development. As a Philippine oil and gas exploration company, Philex Petroleum is involved in the complex and challenging business of searching for oil and gas resources deep beneath the earth’s surface.

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2012

While the business of petroleum exploration and production is far from simple, our cover aims to illustrate this complex business through simple lines, icons and bold colors. Beyond the bottom line, our success must also be measured against a long-term commitment to enhancing lives, protecting the environment, and creating value for the nation.

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2011

Philex Petroleum is a Philippine corporation organized in December 2007 as a wholly-owned subsidiary of Philex Mining, a leader in mining and a pioneer in oil and gas exploration in the Philippines. Pursuant to various assignment agreements executed in 2010, Philex Petroleum acquired Philex Mining’s interest in three petroleum service contracts in the Philippines, as well as various petroleum contracts in the Philippines, Gabon, Peru, the United States and Vietnam, through its stockholdings in FEP, Pitkin, PERC and FEC.

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