Basic Energy earmarks P300-million capex

Listed Basic Energy Corp. has earmarked P300 million for capital expenditures next year to bankroll its major projects in the oil and gas, and geothermal energy fields.

In a statement, Basic Energy said that it has developed a well-balanced portfolio consisting of short-term cash flow producing projects and medium- to long-term more economically-robust projects that would ensure sustainability and eventual major growth for the company.