Oil and Gas Production - As of March 31, 2020, oil constituted approximately 55% of the company's total proved reserves and approximately 84% of its revenues for fiscal 2020[22]. - The company's oil production for fiscal 2020 was 44,301 barrels, an increase from 35,359 barrels in 2019, representing a growth of approximately 25.5%[31]. - Approximately 27% of the company's revenues for fiscal 2020 came from oil and gas royalty interests[22]. Basin Contributions - The Delaware Basin properties accounted for approximately 40% of the company's discounted future net cash flows from proved reserves and 54% of its gross revenues for fiscal 2020[24]. - The Midland Basin properties accounted for approximately 41% of the company's discounted future net cash flows from proved reserves and 22% of its gross revenues for fiscal 2020[26]. - The Permian Basin accounts for 92% of the company's discounted future net cash flows from proved reserves and 78% of its gross revenues[23]. Financial Performance and Risks - Major customers accounted for 52% of revenues in fiscal 2020, up from 42% in 2019, indicating a significant reliance on key customers[36]. - The company had an outstanding loan balance of $795,000 under its credit agreement as of March 31, 2020, with interest rates tied to the prime rate[191]. - As of March 31, 2019, the largest credit risk associated with a single purchaser was $170,418, representing 63% of total oil and gas receivables[192]. - The company has not experienced any significant credit losses related to its receivables[192]. Price Volatility - The NYMEX West Texas Intermediate (WTI) crude oil price on March 31, 2020, was $16.75 per barrel, with averages of $14.68 and $24.67 per barrel for April and May 2020, respectively[197]. - The Henry Hub Spot Market Price for natural gas on March 31, 2020, was $1.71 per MMBtu, averaging $1.74 and $1.75 per MMBtu for April and May 2020, respectively[197]. - A $5 increase or decrease in average oil price for fiscal 2020 would have changed oil revenue by $221,505[199]. - A $1 increase or decrease in average gas price for fiscal 2020 would have changed natural gas revenue by $294,007[199]. - Oil and natural gas prices are expected to remain volatile due to various factors affecting supply and demand[195]. - Temporary pipeline capacity constraints in the Permian Basin have adversely affected natural gas prices[196]. - Declines in oil and natural gas prices can materially adversely affect the company's financial condition and liquidity[198]. - Improvements in oil and gas prices can have a favorable impact on the company's financial condition and results of operations[199]. Capital Expenditures - The company did not incur any material capital expenditures for remediation or pollution control activities for the year ended March 31, 2020[40]. Drilling Activities - The company has 13 drilled but uncompleted wells in the Delaware Basin with an aggregate drilling cost of approximately $200,000 and anticipated completion costs of approximately $300,000[25].

Financial Performance - For the first nine months of fiscal 2020, cash flow from operations was $543,584, a 34% decrease compared to the same period in fiscal 2019, primarily due to a 43% decrease in natural gas prices [58]. - Revenue from oil and gas sales for the third quarter of fiscal 2020 was $766,223, a 20% increase from $640,143 for the same period in fiscal 2019, driven by increased production volumes and oil prices [71]. - For the nine months ended December 31, 2019, revenue from oil and gas sales was $2,083,667, a 0.3% increase from $2,076,742 for the same period in fiscal 2019 [78]. - Production costs for the third quarter of fiscal 2020 were $249,921, an 18% increase from $211,788 for the same period in fiscal 2019 [72]. - General and administrative expenses for the nine months ended December 31, 2019, were $805,701, a 13% increase from $710,194 for the same period in fiscal 2018 [81]. - Interest expense for the nine months ended December 31, 2019, was $25,054, a 37% increase from $18,318 for the same period in fiscal 2018 [82]. - The average price per barrel of oil for the nine months ended December 31, 2019, was $54.73, a 2.3% decrease from $56.04 for the same period in fiscal 2018 [79]. - As of December 31, 2019, the company had working capital of $324,391, a decrease of $71,504 compared to $395,895 at March 31, 2019 [59]. Operational Plans - The company plans to participate in the drilling and completion of approximately 50 horizontal wells at an estimated aggregate cost of $1,500,000 for the fiscal year ending March 31, 2020 [60]. Market Risks - Oil and natural gas prices are highly volatile, significantly impacting the company's financial condition and operations [86]. - Price fluctuations are influenced by global demand, supply levels, production quotas, weather conditions, and political and economic factors in oil-producing countries [88]. - Declines in oil and natural gas prices can adversely affect financial condition, liquidity, and cash flow available for capital expenditures [89]. - A noncash write-down of oil and gas properties may be required under full cost accounting rules if prices decline significantly [89]. - An increase or decrease of $10 per barrel in average oil price could change pretax income or loss by $322,060 for the first nine months of fiscal 2020 [90]. - An increase or decrease of $1 per mcf in average gas price could change pretax income or loss by $221,116 for the first nine months of fiscal 2020 [90]. Credit and Debt - The largest credit risk associated with any single purchaser was $220,707, representing 56% of total oil and gas receivables as of December 31, 2019 [85]. - The company has no off-balance sheet debt or unrecorded obligations as of December 31, 2019 [68]. Infrastructure Developments - A new 42-inch natural gas pipeline began operations in September 2019, capable of transporting 2 Bcf per day to the Gulf Coast, alleviating previous capacity constraints [87].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 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 (I ...

Oil Reserves and Production - As of March 31, 2019, oil constituted approximately 54% of total proved reserves and approximately 72% of revenues for fiscal 2019[21] - The Permian Basin accounts for 70% of discounted future net cash flows from proved reserves and 78% of net revenues[22] - Delaware Basin properties accounted for 45% of gross revenues and 56% of net revenues for fiscal 2019[23] - Midland Basin properties accounted for 20% of gross revenues and 25% of net revenues for fiscal 2019[24] - Oil production for fiscal 2019 was 35,359 barrels, an increase from 34,743 barrels in 2018[28] - Approximately 10% of discounted future net cash flows from Delaware Basin properties are attributable to proven undeveloped reserves[23] Customer and Revenue Concentration - Major customer Company A accounted for 42% of revenues in fiscal 2019[33] - The largest credit risk associated with any single purchaser was $138,508, representing 40% of total oil and gas receivables as of March 31, 2019[183] Financial Condition and Market Risks - The company's financial condition and results are highly dependent on the prevailing market prices of oil and natural gas, which are historically volatile[184] - The primary market risk for the company includes fluctuations in commodity prices and interest rates[181] - Declines in oil and natural gas prices can materially adversely affect the company's financial condition, liquidity, and ability to obtain financing[187] - An increase or decrease of $5 per barrel in average oil price for fiscal 2019 would have changed oil and gas revenue by $176,785[188] - A $1 per mcf change in average gas price for fiscal 2019 would have resulted in a revenue change of $295,133[188] Operational Aspects - The company owns partial interests in approximately 6,100 producing wells across multiple states[27] - The company did not incur any material capital expenditures for remediation or pollution control activities for the year ended March 31, 2019[38] - As of March 31, 2019, the company had two full-time and three part-time employees[50] Pipeline and Pricing Influences - Temporary pipeline capacity constraints in the Permian Basin have adversely affected prices for crude oil and natural gas[185] - Price fluctuations are influenced by global demand, supply levels, production quotas, weather conditions, and political and economic conditions in oil-producing countries[186] Debt and Credit Status - As of March 31, 2019, the company had no outstanding loan balance on its credit agreement[182]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2018 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 o ...