Mexco Energy Corporation

Mexco Energy Corporation is an independent oil and gas company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, condensate, and natural gas liquids in the United States. It holds partial interests in wells across Texas, New Mexico, Oklahoma, Louisiana, Alabama, Arkansas, Wyoming, Kansas, Colorado, Montana, Virginia, North Dakota, South Dakota, and Ohio, as well as leasehold mineral, royalty, and other interests. The company sells to various purchasers in the oil and gas industry. Formerly known as Miller Oil Company, it changed its name to Mexco Energy Corporation in April 1980, was incorporated in 1972, and is based in Midland, Texas.

MXC▼

Mexco Energy reports 24% drop in fiscal 2026 net income

Mexco Energy Corporation reported net income of $1,305,722, or $0.64 per diluted share, for the fiscal year ended March 31, 2026, a 24% decrease from the prior year. Operating revenues fell 8% to $6,561,324, driven by lower average realized oil prices and reduced oil production volumes, partially offset by higher natural gas prices and volumes. The company participated in the development of 57 horizontal wells and one vertical well at a cost of approximately $1.25 million, with 20 wells expected to be completed in the current fiscal year. Estimated proved reserves at year-end were approximately $21 million, with oil reserves down 2% to 659 thousand barrels and natural gas reserves up 7% to 4.67 billion cubic feet. Mexco ended the period with about $1.4 million in cash and no outstanding bank debt, and it plans to spend roughly $1.8 million on drilling and completion activities in fiscal 2027.

MXC ▼

GlobeNewswire·81dRead more →