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 (MXC) is an independent oil and gas company whose public news flow centers on financial performance, drilling activity, and capital allocation decisions. The company, a Colorado corporation located in Midland, Texas, reports that it is engaged in the acquisition, exploration and development of oil and gas properties primarily in the Permian Basin. Its press releases provide regular updates on operating revenues, net income, production volumes, and the relative contribution of oil and natural gas to its business.
Investors following MXC news can review quarterly and annual financial results, including details on how changes in oil and natural gas prices and production volumes affect operating revenues. The company’s announcements often discuss the number of horizontal and vertical wells in which it expects to participate during a fiscal year, estimated aggregate drilling and completion costs, and expenditures on royalty and mineral interest acquisitions in producing wells across multiple states and counties.
Mexco Energy Corporation also issues news regarding its capital allocation, such as declarations of regular annual cash dividends on common shares and authorization of common stock repurchase programs. These releases describe the board of directors’ considerations in determining dividends and the parameters of stock repurchase authorizations. In addition, the company’s news items reference risk factors associated with oil and gas production, including commodity price volatility and the need to develop and replace reserves, with further discussion in its Form 10-K filings.
This MXC news page aggregates such disclosures so readers can track trends in Mexco Energy Corporation’s operating performance, drilling participation, royalty and mineral interest activity, and board-level decisions on dividends and share repurchases over time.
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MGC Pharmaceuticals Ltd. has announced that its investigational medicinal product, CannEpil®, is now available to patients in the UK through Named Patient Request. This decision follows the success of Epidiolex, which generated
Mexco Energy Corporation (NYSE American: MXC) has declared a special cash dividend of $0.10 per common share, payable on May 15, 2023, to stockholders of record by May 1, 2023. In addition, the Board authorized a new share repurchase program of up to $1,000,000, replacing an earlier program that had $5,506 remaining. During the fiscal year ended March 31, 2023, the company repurchased 18,416 shares at an average price of $13.28 per share.
As an independent oil and gas company, Mexco engages primarily in the acquisition, exploration, and development of oil and gas properties in the Permian Basin.
MGC Pharmaceuticals Ltd. (LSE: MXC, OTC: MGCLF) announced that its product ArtemiC™ is now listed as an OTC drug in the US, according to the FDA National Drug Code (NDC) Database. This milestone, facilitated by US partner AMCPharma USA, allows ArtemiC™ to enter US Pharmacy Benefit Management (PBM) networks by April 2023. AMC has placed a US$2 million order, with deliveries scheduled for Q3 and Q4 2023. ArtemiC™, which has shown effectiveness in treating moderate COVID-19 and chronic inflammatory diseases, was developed with Grat Bio® SNEDD technology, ensuring high bioavailability and safety.
Mexco Energy Corporation (NYSE American: MXC) reported a net income of $1,244,785 or $0.56 per diluted share for Q3 fiscal 2023, up from $753,302 or $0.35 in Q3 fiscal 2022. Operating revenues reached $2,581,210. For the first nine months, net income rose 102% to $3,755,173, with revenues increasing 67% to $7,355,975. The average sales price of oil was $94.06 per barrel, a 35% increase. The company plans to drill approximately 50 wells at a cost of $4 million, a 214% increase compared to last year, with no debt and $1.5 million cash on hand.
Mexco Energy Corporation (NYSE American: MXC) reported a net income of $1,211,716 or $0.55 per diluted share for Q2 fiscal 2023, up from $708,828 or $0.33 per diluted share a year earlier. Total operating revenues rose to $2,324,792. For the first half of fiscal 2023, net income was $2,510,388, a 127% increase, with revenues growing 69% to $4,774,765, driven by increased production volumes and rising oil and gas prices. The company plans to drill approximately 48 horizontal wells at an estimated cost of $4.3 million, a 237% increase from the previous year.
MEXCO Energy Corporation (NYSE American: MXC) reported a net income of $1,298,672, or $0.59 per diluted share, for the quarter ending June 30, 2022, marking a 340% increase from the previous year. The operating revenues surged by 94% to $2,449,973, driven by an 18% rise in production volumes and substantial increases in oil and gas prices—71% for oil ($109.62/barrel) and 122% for natural gas ($6.61/Mcf). The company plans to drill 52 horizontal wells at a total cost of $3,800,000, representing a 198% increase over last fiscal year.