Financial Performance - Mexco Energy Corporation reported a net income of $1,344,952, or $0.64 per diluted share, for the fiscal year ended March 31, 2024, with operating revenues of $6,604,884 [1] - The average realized price for oil was $76.40 per barrel, while the average realized price for natural gas was $2.22 per thousand cubic feet for the same period [2] Reserves and Production - The estimated present value of proved reserves as of March 31, 2024, was approximately $29 million, with proved oil reserves increasing by 9% to 791 thousand barrels and natural gas reserves decreasing by 8% to 4.537 billion cubic feet compared to the prior fiscal year [3] - Oil constituted approximately 51% of the total proved reserves and about 83% of the company's oil and gas sales for fiscal 2024 [3] Drilling and Exploration Activities - The company participated in the drilling of 52 wells, including 51 horizontal wells and 1 vertical well, at a cost of approximately $2,300,000 for the fiscal year ending March 31, 2024 [7] - The company expects to participate in the drilling of 30 and completion of 19 horizontal wells at an estimated aggregate cost of approximately $2.2 million for the fiscal year ending March 31, 2025 [10] Financial Position - The company reported having approximately $2.4 million cash on hand and no outstanding indebtedness on its bank line of credit [8] - The company acquired various royalty and mineral interests in 348 gross wells for an aggregate purchase price of approximately $1.8 million, funded from cash on hand [11] Revenue Sources - Approximately 28% of the fiscal 2024 revenues were produced from royalties free of operational costs to Mexco [9]

The Company participated in the drilling of 52 wells consisting of 51 horizontal wells and 1 vertical well at a cost of approximately $2,300,000 for the fiscal year ending March 31, 2024, of which 19 are to be completed this fiscal year. Forty-eight of the horizontal 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 $450,000, the balance required to complete 21 horizontal wells which were drilled ...

On June 27, 2024, Mexco Energy Corporation issued a news release to announce further development of properties. SIGNATURES UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 CURRENT REPORT Date of Report: June 27, 2024 (Date of earliest event reported) CO (State or other jurisdiction of incorporation) 84-0627918 (IRS Employer Identification Number) Registrant's telephone number, including area code: 432-682-1119 ☐ Written communications pursuant to Rule 425 under the Securities Act (17 ...

The commodity price environment was challenging in fiscal 2024. The war in Ukraine and the Israel-Hamas war, rising interest rates, global supply chain disruptions, concerns about a potential economic downturn or recession and measures to combat persistent inflation and instability in the financial sector have contributed to recent economic and pricing volatility and may continue to impact pricing throughout fiscal 2025. In light of these challenges facing our industry and in response to the continued chall ...

MIDLAND, TX, April 30, 2024 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE:MXC) announced today that its Board of Directors declared a regular annual cash dividend of $0.10 per common share. The dividend is payable June 4, 2024 to the stockholders of record at the close of business on May 21, 2024. The Company's Board of Directors also authorized the use of up to $1,000,000 to repurchase shares of the Company's common stock, par value $0.50, for the treasury account. This authorization replaces the prev ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-31785 MEXCO ENERGY CORPORATION (Exact name of registrant as specified in its charter) Colorado 84-0627918 (State or other jurisdiction of in ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) Colorado 84-0627918 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification Number) 415 West Wall Street ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _________ Commission File No. 1-31785 MEXCO ENERGY CORPORATION (Exact name of registrant as specified in its charter) Colorado 84-0627918 (State or other juri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 1-31785 MEXCO ENERGY CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Colorado 84-0627918 (Address of principa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-31785 MEXCO ENERGY CORPORATION Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web si ...