ACE Enexor changes name to ENEX Energy

MANILA, Philippines — The listed oil and gas exploration and production unit of the Ayala Group has changed its name to highlight the company’s focus on energy transition.

ACE Enexor Inc. will now be known as ENEX Energy Corp.

The change in corporate name and stock trading symbol of ACE Enexor to ENEX Energy will be reflected on the Philippine Stock Exchange systems effective on Dec. 9.

ENEX Energy said that the Securities and Exchange Commission has approved last Nov. 9 the amendment of  its articles of incorporation, which includes the change in the company’s corporate name.

The change in the corporate name was approved by the company’s board of directors at its meeting held last March, with the move seen to highlight the corporation’s focus on energy transition.

ENEX Energy’s primary business is the exploration and production of crude oil and natural gas through interests in petroleum contracts and through holdings in resource development companies with interests in petroleum contracts.

It started its foray into the exploration and development of geothermal resources in 2017.

The company has 7.78 percent interest in service contract (SC) 6 Block A in Northwest Palawan and 75 percent interest in SC 55 in offshore West Palawan through its subsidiary, Palawan55 Exploration & Production Corp., as of end 2021.