Mexco Energy (US:MXC) Globenewswireยท2025-06-27 21:50Core Insights - Mexco Energy Corporation reported a net income of $1,712,368, or $0.81 per diluted share, representing a 27% increase compared to fiscal 2024 [1] - Operating revenues for fiscal 2025 were $7,358,066, an 11% increase from fiscal 2024, driven by increased oil and natural gas production volumes [2] Financial Performance - The average realized price for oil was $73.54 per barrel, while the average realized price for natural gas was $1.70 per thousand cubic feet [2] - The estimated present value of proved reserves at March 31, 2025, was approximately $23 million, with proved oil reserves decreasing by 15% to 675 thousand barrels and natural gas reserves decreasing by 4% to 4.360 billion cubic feet [6] Operational Activities - The company participated in the drilling of 35 horizontal wells at a cost of approximately $1,100,000 for fiscal 2025, with 17 wells to be completed this fiscal year [3] - Approximately 31% of fiscal 2025 operating revenues were generated from royalties free of operational costs to Mexco [4] Future Outlook - The company expects to participate in the drilling of 27 and completion of 17 horizontal wells at an estimated cost of approximately $1.2 million for fiscal 2026 [5] - The company has approximately $2.2 million cash on hand and no outstanding indebtedness on its bank line of credit, indicating a strong financial position [7] Acquisitions - Throughout the year, the company acquired various royalty and mineral interests in 840 gross wells for an aggregate purchase price of approximately $2.0 million [7]