MEXCO ENERGY CORP (MXC) SEC Filings

Mexco Energy Corporation reported stronger results for the quarter ended June 30, 2026, its first quarter of fiscal 2027. Net income was $501,065, or $0.24 per diluted share, compared with $241,951, or $0.12 per diluted share, for the same quarter in 2025, a 107% increase. Operating revenues were $1,983,169, up 13% from $1,756,940 in the first quarter of fiscal 2026.

The company stated that higher results were driven mainly by a 52% increase in average oil price, partly offset by a 15% decrease in oil production, a 9% decrease in natural gas production, and a 49% decrease in average natural gas price. Mexco expects to participate in drilling 53 horizontal wells and completing 20 horizontal wells in fiscal 2027 at an estimated cost of about $1.8 million, of which $620,000 has been spent.

Management reported investing approximately $2.1 million during the quarter in oil and gas royalty property acquisitions funded from existing cash resources, consistent with its strategy of acquiring royalty interests with development potential, primarily in the Permian Basin.

Mexco Energy Corporation reported stronger quarterly results for the three months ended June 30, 2026. Oil and gas operating revenues were $1.98 million, up 13% from $1.75 million a year earlier, as higher oil prices offset lower gas prices and volumes. Net income rose to $501,065 from $241,951, with diluted earnings per share increasing to $0.24 from $0.12.

Operating cash flow was $1.45 million, while investing outflows expanded to $2.73 million driven by additions to oil and gas properties, including royalty acquisitions totaling about $2.10 million during the quarter. Cash decreased to $1.29 million, but the company had $2.72 million of working capital and an undrawn $1.5 million credit facility maturing March 28, 2029, with no long-term debt outstanding.

The Board paid a regular annual dividend of $0.10 per share and maintains a share repurchase authorization with $546,784 remaining. Mexco continues to pursue a strategy focused on non-operated working interests and royalty acquisitions in multiple basins, with planned fiscal 2027 drilling and completion spending of approximately $1.8 million on horizontal wells.

Mexco Energy Corporation filed an amended annual report to add the Part III information that had been intended for its definitive proxy statement, after that proxy was not filed within 120 days of the March 31, 2026 fiscal year-end due to an administrative error. The amendment restates the cover page, governance, executive compensation, ownership and auditor fee disclosures and adds updated Section 302 certifications, while stating there are no changes to previously reported financial statements or results and that it does not update disclosures for events after the original filing.

The board has six members, including one employee director and five non-employees, four of whom are NYSE American independent directors. The audit, compensation and nominating committees are composed entirely of independent directors, and the audit committee chair is designated an audit committee financial expert. As of July 29, 2026 there were 2,046,000 shares outstanding; CEO Nicholas C. Taylor beneficially owned 944,000 shares, or 46.14%, and all officers and directors as a group owned 1,142,718 shares, or 55.53%. A separate holder, Howard Cox, beneficially owned 202,400 shares, or 9.89%.

Executive pay is primarily cash-based. In fiscal 2026 the President and Chief Financial Officer earned $302,550 in salary and bonus, and the Secretary and Assistant Treasurer earned $93,140. Equity incentives consist of options under the 2009 and 2019 Employee Incentive Stock Plans, with 150,883 options outstanding across both plans and 22,750 options held by named executive officers that would accelerate upon a qualifying change in control or certain terminations.

Mexco Energy Corporation will hold its annual meeting on September 8, 2026 for holders of 2,046,000 common shares outstanding as of July 20, 2026. Shareholders will elect five directors, ratify Weaver and Tidwell, L.L.P. as auditor for the year ending March 31, 2027, vote on an amended and restated 2019 Employee Incentive Stock Plan, and consider a non-binding say‑on‑pay resolution.

The Amended and Restated 2019 Plan would increase the equity pool by 268,500 shares to a maximum of 468,500 shares available for awards and update limits, change‑of‑control provisions and tax‑compliance language. As of March 31, 2026, 115,883 options were outstanding under the 2019 Plan and 68,500 shares remained available for issuance; 22,750 additional options held by named executive officers would vest on certain change‑of‑control or termination events.

Executive pay relies on salary, annual bonuses and equity grants. The CEO, Nicholas C. Taylor, waived all compensation for fiscal 2026. President and Chief Financial Officer Tamala L. McComic earned $302,520 in 2026, and Secretary and Assistant Treasurer Stacy D. Hardin earned $93,140. Taylor beneficially owns 944,000 shares, or 46.14% of the company, while officers and directors as a group hold 1,142,718 shares, or 55.53%.

Mexco Energy Corporation reported weaker results for fiscal 2026, with net income of $1,305,722, or $0.64 per diluted share, down 24% from fiscal 2025. Operating revenues were $6,561,324, an 8% decrease, driven mainly by lower realized oil prices and reduced oil production, partly offset by stronger natural gas prices, higher gas volumes, and more income from a limited liability company investment.

The company invested about $1.25 million to participate in 57 horizontal and one vertical well, plus $150,000 to complete 17 horizontal wells drilled in fiscal 2025, and saw 177 gross wells drilled on its royalty interests. It plans to spend roughly $1.8 million on 33 new horizontal wells and completing 20 existing wells in fiscal 2027. Proved reserves at March 31, 2026, had an estimated present value of about $21 million, with oil reserves down 2% to 659 thousand barrels and natural gas reserves up 7% to 4.67 billion cubic feet.

Oil accounted for around 46% of total proved reserves and 81% of oil and gas sales. Management highlighted approximately $1.4 million of cash on hand and no outstanding bank line of credit borrowings, and noted about $800,000 of royalty and mineral interest acquisitions funded from cash.

Mexco Energy Corporation reports fiscal year 2026 results driven by U.S. oil and gas production, primarily in the Permian Basin. Oil and gas revenue was approximately $6.55 million, down from $7.12 million, as lower oil prices offset higher natural gas volumes and pricing.

Net income was $1.31 million versus $1.71 million, reflecting softer commodity pricing partially offset by lower production costs. Production totaled 195,765 BOE, with oil providing 81% of sales and the Permian Basin contributing three-quarters of discounted future net cash flows.

At March 31, 2026, proved reserves were 1.437 million BOE with a PV-10 value of $21.13 million, and the standardized measure was $18.67 million. Mexco generated $3.78 million of operating cash flow, funded drilling and mineral acquisitions, maintained a small non-operator workforce, and continued paying a $0.10 per-share annual dividend while running an active share repurchase authorization.

Mexco Energy Corporation announced that its board of directors declared a regular annual cash dividend of $0.10 per common share. The dividend will be paid on June 30, 2026 to stockholders of record at the close of business on June 15, 2026. The company explains that future dividends will be determined at the board’s discretion based on factors such as liquidity, capital needs, operating results and cash reserves, and it cannot assure that dividends will be authorized or declared in the future.

MEXCO ENERGY CORP director Thomas H. Decker reported selling 5,000 shares of MXC common stock in open-market transactions. On March 5, 2026, he sold 2,500 shares at $13.45 per share and another 2,500 shares at $14.70 per share.

After these sales, Decker directly held 18,400 MXC common shares. An additional 10,173 shares were reported as indirectly owned, held by his spouse.