Mexco Energy Corporation Reports Financial Results for First Quarter

Core Insights - Mexco Energy Corporation reported a net income of $291,039, or $0.14 per diluted share, for the first quarter of fiscal 2025 ending June 30, 2024 [1] - The company experienced a 1% decrease in operating revenues, totaling $1,727,835, primarily due to a 36% drop in the average sales price of natural gas and a 3.5% decrease in oil and natural gas production, although there was a 9% increase in the average sales price of oil [2] - Oil accounted for 87% of the company's operating revenues in the first quarter of fiscal 2025 [2] Operational Plans - The company plans to participate in the drilling of 30 and completion of 19 horizontal wells at an estimated total cost of approximately $2.2 million for the fiscal year ending March 31, 2025, with about $320,000 already spent [3] - Mexco Energy is also evaluating additional prospects for participation during the fiscal year [3] Company Overview - Mexco Energy Corporation is an independent oil and gas company based in Midland, Texas, focused on the acquisition, exploration, and development of oil and gas properties primarily in the Permian Basin [4]