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PXP Energy takes over Pitkin for $3.5 million

Listed upstream oil and gas firm PXP Energy Corp. has taken over a UK-registered upstream oil and gas company with operations in Peru. ....

Daniel Stephen Carlos , Pitkin Petroleum , Energy Corp , Pitkin Petroleum Ltd , Philippine Stock Exchange , United Kingdom Registered , Peru Block , Tumbes Basin , Talara Basin , Northwest Palawan , Pxp Energy Corp ,

PXP incurs P1.7 billion net loss in 2021

PXP incurs P1.7 billion net loss in 2021
philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.

Pty Ltd , Pty Ltd Sucursal Del Peru , Energy Corp , Pitkin Petroleum Ltd , Pitkin Petroleum Peru , Service Contract , Philippine Stock Exchange , Pitkin Petroleum , Pitkin Peru ,

PXP unit launches case vs Australia's Karoon Energy


BusinessWorld
May 26, 2021 | 12:05 am
The block is situated in the Tumbes Basin offshore Northwest Peru.
In its disclosure, Manuel V. Pangilinan-led PXP said that Karoon Energy’s unit KEI Sucursal del Peru, the operator of the block, was supposed to drill a second well during the third exploration phase, as stated in its contract.
If the well is not drilled during this time, KEI must continue drilling activities until the fourth period of the exploration phase.
KEI is also required to pay Pitkin’s participating interest of 25% in all expenses incurred until the second well is completed.
“KEI is in breach of its obligations to Pitkin by not entering into the [fourth exploration phase],” PXP said. ....

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