Earnings ·
Mexco Energy Corporation reported net income of $501,065, or $0.24 per diluted share, for the first quarter ended June…
MXCMexco Energy Corp
Mexco Energy Corporation reported net income of $501,065, or $0.24 per diluted share, for the first quarter ended June 30, 2026, compared to $241,951 in the prior year period. Operating revenues increased 13% to $1,983,169, driven by a 52% rise in average oil prices despite decreases in production volumes and natural gas pricing. The company invested approximately $2.1 million in royalty property acquisitions during the quarter. Management anticipates participating in the drilling of 53 horizontal wells and completing 20 at an estimated aggregate cost of $1.8 million for fiscal year 2027, with $620,000 already expended. Mexco Energy Corporation is an independent oil and gas company engaged in the acquisition, exploration, and development of properties primarily in the Permian Basin.