Philodrill to operate Mindoro gas project

The Department of Energy approved the assignment of The Philodrill Corp. as the operator of a natural gas exploration project in Mindoro Island.

“After thorough review of the technical, legal, and financial qualifications of the continuing partners, the request for redistribution of participating interests among the continuing partners, and the assignment of Philodrill as the operator, is hereby approved,” said the listed company in a disclosure Monday, citing the agency’s letter which it received last January 11, 2021.