Mexco Energy Corporation Announces Financial Results and Further Property Developments

Mexco Energy Corporation, a Colorado-based independent oil and gas company focused on properties in the Permian Basin, released an update on its financial standing and property developments. On February 7, 2025, Mexco Energy issued a news release detailing its financial results for the nine months ending December 31, 2023, as well as announcing further advancements in property development.

Financially, for the nine months ending on December 31, 2024, Mexco Energy reported a net income of $1,077,370, equivalent to $0.51 per diluted share. Operating revenues for the same period amounted to $5,368,327, showcasing a 12% increase compared to the previous fiscal year’s first nine months. Enhanced oil and natural gas production volumes drove this growth despite a decrease in average sales prices, with oil contributing significantly to the operating revenues.

In the third quarter of fiscal 2025, Mexco Energy recorded a net income of $469,133, translating to $0.22 per diluted share, marking a 36% increase from the previous year’s third quarter. Operating revenues for this period totaled $1,891,265.

Looking ahead, Mexco Energy outlined plans to participate in the drilling of 28 and completion of 19 horizontal wells with an estimated total cost of around $1.8 million for the fiscal year ending March 31, 2025. Additionally, the company has already invested approximately $2 million in royalties and mineral interest acquisitions across nearly 700 producing wells located in various counties spanning nine states.

Mexco Energy continues to prioritize expansion and development efforts within its operational areas. The company cautions stakeholders regarding forward-looking statements, noting the potential risks and uncertainties associated with oil and gas production operations, market volatility, regulatory challenges, and exploration uncertainties. Mexco Energy encourages interested parties to review its Form 10-K for the fiscal year ended March 31, 2024, for more detailed information on these factors.

For more information on Mexco Energy Corporation, individuals can visit their website at www.mexcoenergy.com or reach out to Tammy L. McComic, the President and Chief Financial Officer, at (432) 682-1119 as listed in the news release.

This news release further solidifies Mexco Energy Corporation’s commitment to growth and success within the oil and gas sector, underscoring its strategic focus on operational efficiency and financial stability.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mexco Energy’s 8K filing here.

Mexco Energy Company Profile

Mexco Energy Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of natural gas, crude oil, condensate, and natural gas liquids in the United States. It owns partial interests in approximately 6,400 gross producing wells located in the states of Texas, New Mexico, Oklahoma, Louisiana, Alabama, Mississippi, Arkansas, Wyoming, Kansas, Colorado, Montana, Virginia, North Dakota, and Ohio.