• Pryce Achieves a New High in Net Income
    As of the third quarter of 2015, Pryce Corporation’s consolidated net income rose to a new high. Income from operations for the period January to September jumped by 116.2% from P267.4 million in 2014 to P578.3 million in 2015 driven mainly by the large increase in LPG sales volume, with improvement in consolidated gross margin and tighter cost control.
  • PGI in a Farm-in Agreement with Otto Energy Phils., Inc.
    On July 30, 2015, the Corporation’s subsidiary, Pryce Gases, Inc. (“PGI”) entered into a Farm-In Agreement with Otto Energy Philippines, Inc. (“Otto Philippines”) to acquire from the latter ten percent (10%) participating interest in Service Contract 55 (SC 55) of the Philippine Government through the Department of Energy. In consideration therefor, PGI will pay US$3.225million equivalent to 10% of the Well Costs for the drilling and testing of the Hawkeye-1 exploration well within SC 55. Said participating interest would entitle PGI to 10% of the earnings and [...]
  • Pryce Gases, Inc. 10% Participating Interest in Service Contract 55
    The Company's subsidiary, Pryce Gases, Inc. ("PGI"), submitted a formal firm offer to acquire from Otto Energy Philippines, Inc. ten percent (10%) participating interest in Service Contract 55 of the Philippine Government through the Department of Energy (for the exploration, development, and exploitation of petroleum resources in the offshore area of Southern Palawan) in consideration of PGI's payment of 10% the Well Costs and certain other specified costs. 
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