Welcome to our dedicated page for Mexco Energy Cor news (Ticker: MXC), a resource for investors and traders seeking the latest updates and insights on Mexco Energy Cor stock.
Mexco Energy Corporation reports developments as an independent oil and gas company engaged in acquiring, exploring, developing and producing crude oil and natural gas properties, primarily in the Permian Basin. Company updates commonly address operating revenue, net income, oil and natural gas production volumes, realized commodity prices and the contribution of oil sales to revenue.
Recurring announcements also cover participation in drilling and completion of horizontal wells, royalty and mineral interest acquisitions, limited liability company investment income, proved reserves disclosed with annual results, and board-authorized cash dividends on common shares.
Mexco Energy (NYSE American: MXC) declared a regular annual cash dividend of $0.10 per common share. The dividend is payable on June 30, 2026 to shareholders of record as of June 15, 2026.
The Board determines dividends at its discretion and notes there is no assurance of future dividends or their amounts.
Mexco Energy Corporation (NYSE American: MXC) reported third-quarter fiscal 2026 net income of $50,245 ($0.02 per diluted share) and nine-month net income of $615,702 ($0.30 per diluted share). The quarter's net income decreased 89% versus the prior-year quarter, primarily due to lower oil prices.
Operating revenues were $1,383,887 in the quarter and $4,932,806 for the nine months, with oil representing 77% of nine-month revenues. The company expects to participate in the drilling and completion of 50 horizontal wells at an estimated aggregate cost of ≈$1.6 million for the fiscal year ending March 31, 2026, and has spent ~$0.9 million to date.
Mexco Energy Corporation (NYSE American: MXC) reported net income of $565,457 (six months ended Sept 30, 2025) or $0.27 per diluted share and operating revenues of $3,548,919, a 2% increase versus prior year.
Second-quarter net income was $323,506 or $0.16 per diluted share, with Q2 revenues of $1,734,743. Oil made up 76% of operating revenues; management noted a 17% decline in average oil prices reduced overall revenues despite higher production.
The company expects participation in 46 horizontal and 1 vertical wells for fiscal year ending March 31, 2026, at an estimated aggregate cost of $1.0 million (≈$300,000 spent to date), and has spent ≈$450,000 on royalty/mineral acquisitions to date.
Mexco Energy Corporation (NYSE American: MXC) reported its Q1 fiscal 2026 financial results with net income of $241,951 ($0.12 per diluted share), down 17% from $291,039 ($0.14 per diluted share) in Q1 fiscal 2025. Operating revenues increased 5% to $1,814,176, driven by significant production volume increases and higher natural gas prices.
The company saw a 16% increase in oil production and a 25% increase in natural gas production. Natural gas prices surged 62%, though oil prices declined 21%. Mexco plans to participate in 35 new horizontal wells with estimated costs of $1.2 million for fiscal 2026, with $350,000 already spent.
Mexco Energy Corporation (NYSE American: MXC) reported strong financial results for fiscal 2025, with net income increasing 27% to $1.71 million ($0.81 per diluted share) and operating revenues rising 11% to $7.36 million. The company participated in drilling 35 horizontal wells at a cost of $1.1 million, with 29 wells located in the Delaware Basin.
The company maintains a strong financial position with $2.2 million in cash and no outstanding debt. Mexco's proved reserves were valued at approximately $23 million, though oil reserves decreased 15% to 675,000 barrels and natural gas reserves fell 4% to 4.36 billion cubic feet due to lower commodity prices. The company acquired interests in 840 gross wells across multiple states for approximately $2.0 million.
Mexco Energy Corporation (NYSE American: MXC) has announced a regular annual cash dividend of $0.10 per common share. The dividend will be paid on June 16, 2025 to stockholders of record as of June 2, 2025.
Mexco Energy Corporation, based in Midland, Texas, operates as an independent oil and gas company, focusing on acquisition, exploration, and development of oil and gas properties in the Permian Basin. The company emphasizes that dividend decisions are made by the Board of Directors based on various factors including liquidity, capital resources, operational results, cash reserves for future capital expenditures, and other considerations.
Mexco Energy (NYSE American: MXC) reported financial results for the nine months ending December 31, 2024, with net income of $1,077,370 ($0.51 per diluted share). Operating revenues reached $5,368,327, marking a 12% increase compared to the same period in fiscal 2024, driven by higher oil and natural gas production volumes but partially offset by lower average sales prices.
For Q3 fiscal 2025, the company posted net income of $469,133 ($0.22 per diluted share), up 36% from $345,610 in Q3 fiscal 2024, with operating revenues of $1,891,265. Oil represented 86% of operating revenues for the first nine months.
The company plans to participate in 28 drilling and 19 completion horizontal wells at an estimated cost of $1.8 million for fiscal 2025, with $1.1 million already spent. Additionally, Mexco has invested $2 million in royalty and mineral interest acquisitions across 700 producing wells in 37 counties across 9 states.
Mexco Energy (NYSE American: MXC) reported financial results for the first six months of fiscal 2025. The company achieved net income of $608,237 ($0.29 per diluted share) and operating revenues of $3,477,062, marking a 10% increase compared to the same period in fiscal 2024. The growth was driven by increased oil and natural gas production volumes and higher oil prices, partially offset by lower natural gas prices. Oil represented 87% of operating revenues. For Q2 fiscal 2025, net income was $317,198 ($0.15 per diluted share). The company plans to participate in drilling 30 and completing 19 horizontal wells at an estimated cost of $2.3 million, with $890,000 already spent.
Mexco Energy (NYSE American: MXC) reported financial results for its first quarter of fiscal 2025 ending June 30, 2024. The company achieved net income of $291,039, or $0.14 per diluted share. Operating revenues were $1,727,835, a slight decrease of 1% compared to the same quarter last year. This decline was primarily attributed to a 36% decrease in average natural gas sales prices and a 3.5% decrease in oil and natural gas production. However, these factors were partially offset by a 9% increase in average oil sales prices.
Oil contributed 87% of the company's operating revenues for the quarter. Mexco Energy plans to participate in the drilling of 30 and completion of 19 horizontal wells at an estimated cost of $2.2 million for the fiscal year ending March 31, 2025, with $320,000 already expended.
Mexco Energy (NYSE American: MXC) released its fiscal 2024 financial results on June 27, 2024. The company reported a net income of $1,344,952, or $0.64 per diluted share, and operating revenues of $6,604,884. The average realized prices for oil and natural gas were $76.40 per barrel and $2.22 per thousand cubic feet, respectively.
Mexco participated in drilling 52 wells, with 51 horizontal and 1 vertical well, at a cost of approximately $2.3 million. An additional $450,000 was spent to complete 21 wells from fiscal 2023. The company expects to drill 30 and complete 19 horizontal wells in fiscal 2025, with an estimated cost of $2.2 million.
The present value of proved reserves is approximately $29 million, with oil reserves increasing by 9% and natural gas reserves decreasing by 8%. Approximately 28% of revenues were produced from royalties. Mexco holds $2.4 million in cash, with no outstanding debt on its bank line of credit.
Throughout the year, Mexco acquired royalty and mineral interests in 348 gross wells for around $1.8 million, funded from cash on hand.