Stock Information

BSC | BASIC ENERGY CORPORATION

Sector: INDUSTRIAL | Sub-Sector: ELEC., ENERGY, POWER & WATER

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 fully owns 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, which is engaged in the development of biofuels; Basic Renewables, Inc., which is engaged in the development of renewable energy; RDG Wind Energy Corporation (formerly Mabini Wind Corporation), which holds the Wind Energy Service Contract for the development of a Wind Energy Project in Mabini, Batangas; Grandway Group Limited, a Hong Kong registered company which is engaged in investments in equities abroad; Southwest Resources, Inc., an oil exploration company, which is 72.58% owned by the Company; and Filoil Energy Company Inc., which is 60% owned by the Company.

BSC was awarded various service contracts by the Department of Energy for geothermal energy and/or wind energy.

Source: SEC Form 17-A (2024)