MEXCO ENERGY CORP

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.

Mexco Energy Corporation reported estimated proved reserves of 1.437 million barrels of oil equivalent (MMBOE) as of March 31, 2026, with an estimated present value of approximately $21 million. For fiscal 2026, the company produced 82,133 barrels of oil and 681,794 Mcf of natural gas. Mexco's operations are primarily centered in the Permian Basin, which contributes 75% of its discounted future net cash flows. The company's strategy for fiscal 2027 focuses on optimizing cash flows, divesting non-core assets, and balancing capital spending amidst a volatile commodity price environment.

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.

Mexco Energy Corporation announced that its Board of Directors declared a regular annual cash dividend of $0.10 per common share. The dividend is scheduled to be paid on June 30, 2026, to stockholders who are on record as of the close of business on June 15, 2026. The company, an independent oil and gas firm based in Midland, Texas, primarily focuses on the acquisition, exploration, and development of oil and gas properties in the Permian Basin.