Quarterly ResultJun 29, 2026, 06:16 AM
Mexco Energy Fiscal 2026 Net Income Down 24% to $1.31M; Revenue Down 8%
AI Summary
Mexco Energy Corporation reported its financial results for the fiscal year ended March 31, 2026, with net income decreasing 24% to $1.31 million and operating revenues falling 8% to $6.56 million, primarily due to lower oil prices and production. Despite this, the company participated in significant development activities, including 57 horizontal wells, and increased natural gas reserves by 7%. Mexco also reported $1.4 million cash on hand and no outstanding debt, while actively seeking new opportunities.
Key Highlights
- Net income for fiscal 2026 decreased 24% to $1,305,722 ($0.64 per diluted share).
- Operating revenues for fiscal 2026 decreased 8% to $6,561,324.
- Average realized oil price was $64.25 per barrel; natural gas price was $1.86 per thousand cubic feet.
- Participated in development of 57 horizontal and 1 vertical well for approximately $1.25 million.
- Estimated proved oil reserves decreased 2% to 659 thousand barrels; natural gas reserves increased 7% to 4.67 billion cubic feet.
- Estimated present value of proved reserves at March 31, 2026, was approximately $21 million.
- Company holds $1.4 million cash on hand with no outstanding indebtedness.
- Acquired royalty and mineral interests for approximately $800,000.
Price Impact
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