MEXCO ENERGY CORP

Mexco Energy Corporation reported strong financial results for the second quarter and first six months of fiscal year 2026. Net income for the second quarter increased to $444.1 million from $323.5 million in the prior year, with six-month net income reaching $945.2 million, up from $565.5 million. Total operating revenues also saw significant growth, with Q2 revenues at $2.12 billion and six-month revenues at $4.10 billion. The company declared and paid an annual dividend of $0.10 per common share. Significant capital expenditures were made in oil and gas properties, and cash reserves decreased during the period.

Mexco Energy Corp reported a substantial increase in net income and diluted earnings per share for the three months ended June 30, 2026, driven by higher operating revenues. The company also made significant investments in acquiring new royalty interests totaling over $2 million and outlined plans for substantial capital expenditures in fiscal year 2027 for drilling new wells. Despite a decrease in cash and cash equivalents due to these investments, the company maintained its annual dividend.

Mexco Energy Corporation reported strong financial results for its first quarter of fiscal year 2027, with net income increasing by 107% to $501,065, or $0.24 per diluted share, compared to the same period last year. Operating revenues also grew by 13% to $1,983,169, primarily driven by a significant increase in average oil prices. The company continued its investment strategy, expending $2.1 million on oil and gas royalty property acquisitions and planning further participation in drilling and completion of 73 horizontal wells with an estimated aggregate cost of $1.8 million for the fiscal year.

Mexco Energy Corp filed an amended 10-K to incorporate Part III information, which was previously omitted due to an administrative error in filing its definitive proxy statement. The amendment provides comprehensive details on the company's corporate governance structure, including its Board of Directors and committees, executive compensation policies, and security ownership. It also includes updated certifications from the CEO and CFO, clarifying that no changes were made to the company's financial statements or reported results.

Mexco Energy Corporation announced its Annual Meeting of Stockholders to be held on September 8, 2026, with a record date of July 20, 2026. Key agenda items include the election of directors, ratification of the independent auditor, and a proposal to approve the Amended and Restated 2019 Employee Incentive Stock Plan. Stockholders will also cast a non-binding advisory vote on executive compensation.

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.