Quarterly ResultJun 29, 2026, 06:21 AM
Mexco Energy FY26 Net Income $1.31M (-24%); Revenue $6.56M (-8%)
AI Summary
Mexco Energy Corporation reported its annual results for the fiscal year ended March 31, 2026, with net income decreasing 24% to $1.31 million and operating revenues down 8% to $6.56 million, primarily due to lower oil prices and production. Despite the financial decline, the company actively developed 58 wells and acquired new royalty interests for $800,000. Mexco also reported $1.4 million cash on hand and no outstanding debt, with plans to participate in 33 new horizontal wells in the current fiscal year.
Key Highlights
- Net income for fiscal 2026 was $1,305,722, a 24% decrease year-over-year.
- Diluted earnings per share were $0.64.
- Operating revenues for fiscal 2026 were $6,561,324, an 8% decrease year-over-year.
- Average realized oil price was $64.25/barrel; natural gas price was $1.86/MCF.
- Participated in 57 horizontal and 1 vertical well development for $1.25 million.
- Estimated proved reserves value at March 31, 2026, was approximately $21 million.
- Proved oil reserves decreased 2% to 659 thousand barrels; natural gas reserves increased 7% to 4.67 billion cubic feet.
- Acquired royalty and mineral interests in 262 gross wells for approximately $800,000.
Price Impact
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