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MEXCO ENERGY CORPORATION REPORTS FINANCIAL RESULTS FOR FISCAL 2025
MIDLAND, TX, June 27, 2025 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) reported results on its Annual Report, Form 10-K to the Securities and Exchange Commission for the fiscal year ended March 31, 2025. The Company reported net income of $1,712,368, or $0.81 per diluted share, a 27% increase compared to fiscal 2024. Operating revenues for fiscal 2025 were $7,358,066, an 11% increase when compared to fiscal 2024. This increase was primarily due to an increase in oil and nat
About this update from Mexco Energy Corporation
[{"type":"image","alt":"Mexco Energy Corp.","displaySize":"","headline":null,"caption":"Mexco Energy Corp.","className":"","disableSlideshowImg":false,"size":{"original":{"width":132,"height":120,"url":"https://media.zenfs.com/en/globenewswire.com/2c8692fb4ad9cf170ea5e2cc8f9c2dc2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Icf6jgDRkQYDZ4fylcgg8A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIxMDtoPTE5MTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/2c8692fb4ad9cf170ea5e2cc8f9c2dc2","width":132,"height":120}},"lazy":false},{"type":"text","content":"MIDLAND, TX, June 27, 2025 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) reported results on its Annual Report, Form 10-K to the Securities and Exchange Commission for the fiscal year ended March 31, 2025. The Company reported net income of $1,712,368, or $0.81 per diluted share, a 27% increase compared to fiscal 2024.","length":340,"tagName":"p"},{"type":"text","content":"Operating revenues for fiscal 2025 were $7,358,066, an 11% increase when compared to fiscal 2024. This increase was primarily due to an increase in oil and natural gas production volumes and partially offset by a decrease in the average sale prices of oil and natural gas. Natural gas prices have been low due to limited pipeline capacities in the Permian Basin. For the year ended March 31, 2025, the average realized price for oil was $73.54 per barrel and the average realized price for natural gas was $1.70 per thousand cubic feet.","length":536,"tagName":"p"},{"type":"text","content":"The Company participated in the drilling of 35 horizontal wells at a cost of approximately $1,100,000 for the fiscal year ending March 31, 2025, of which 17 are to be completed this fiscal year. Twenty-nine of these wells are in the Delaware Basin located in the western portion of the Permian Basin in Lea and Eddy Counties, New Mexico. The Company also expended approximately $300,000, the balance required to complete 19 horizontal wells which were drilled during fiscal 2024.","length":479,"tagName":"p"},{"type":"text","content":"In addition to the above working interests, there were 120 gross wells (.09 net wells) drilled by other operators on the Company’s royalty interests. Approximately 31% of the fiscal 2025 operating revenues were produced from royalties free of operational costs to Mexco.","length":270,"tagName":"p"},{"type":"text","con...