Mexco Energy CorporationMXC
▼ NegativeCapitalrelevance
Net income dropped 24% and operating revenues fell 8% due to lower oil prices and production.
Impact on stocks 1
Energy
Mexco Energy CorporationMexco 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.
Mexco Energy CorporationNet income dropped 24% and operating revenues fell 8% due to lower oil prices and production.