Mexco Energy Corporation Announces Financial Performance for the First Half of the Year
Financial Performance: Mexco Energy Corporation reported a net income of $565,457 for the first six months of fiscal 2026, with operating revenues increasing by 2% compared to the previous year, primarily due to higher gas prices and production volumes, despite a decline in average oil prices.
Quarterly Results: In the second quarter of fiscal 2026, the company achieved a net income of $323,506, slightly up from $317,198 in the same quarter of the previous year, with operating revenues of $1,734,743.
Future Investments: The company plans to participate in the drilling of 46 horizontal wells and 1 vertical well at an estimated cost of $1.0 million for the fiscal year ending March 31, 2026, with $300,000 already spent.
Acquisitions and Risks: Mexco has invested approximately $450,000 in royalty and mineral interest acquisitions across several states, while also cautioning about various risks that could affect future operations, including price volatility and exploration uncertainties.
Trade with 70% Backtested Accuracy
Analyst Views on MXC
About MXC
About the author
Mexco Energy Corporation Announces Financial Performance for the First Half of the Year
Financial Performance: Mexco Energy Corporation reported a net income of $565,457 for the first six months of fiscal 2026, with operating revenues increasing by 2% compared to the previous year, primarily due to higher gas prices and production volumes, despite a decline in average oil prices.
Quarterly Results: In the second quarter of fiscal 2026, the company achieved a net income of $323,506, slightly up from $317,198 in the same quarter of the previous year, with operating revenues of $1,734,743.
Future Investments: The company plans to participate in the drilling of 46 horizontal wells and 1 vertical well at an estimated cost of $1.0 million for the fiscal year ending March 31, 2026, with $300,000 already spent.
Acquisitions and Risks: Mexco has invested approximately $450,000 in royalty and mineral interest acquisitions across several states, while also cautioning about various risks that could affect future operations, including price volatility and exploration uncertainties.
Mexco Energy Posts 5 Percent Gain in Q1
Revenue and Income Performance: Mexco Energy reported a 5% increase in revenue to $1.81 million for Q1 FY2026, driven by a 21% rise in oil and gas production; however, net income fell by 17% to $241,951 due to a significant drop in realized oil prices.
Operational Focus and Future Plans: The company is concentrating on reserve replacement and plans to participate in 35 new horizontal wells this fiscal year, while also managing its financial structure and maintaining a debt-free status amidst ongoing commodity price challenges.
