MXC

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.

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.

Financial Performance: Mexco Energy Corporation reported a net income of $241,951 for Q1 of fiscal 2026, a 17% decrease from the previous year, despite a 5% increase in operating revenues due to higher production volumes and natural gas prices.

Future Plans: The company plans to drill 35 horizontal wells at an estimated cost of $1.2 million for the fiscal year ending March 31, 2026, while also facing risks related to oil and gas price volatility and production uncertainties.