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GlobeNewswire·

Mexco Energy Corporation Reports Financial Results for First Quarter

  • Mexco Energy Corporation reported net income of $501,065 ($0.24 per diluted share) for the quarter ended June 30, 2026, representing a 107% increase from the prior year period.
  • Operating revenues reached $1,983,169, a 13% increase driven by a 52% rise in average oil prices despite declines in oil production, natural gas production, and natural gas prices.
  • The Company plans to drill 53 horizontal wells & complete 20 horizontal wells during fiscal 2027 at an estimated total cost of $1.8 million, with $620,000 spent to date.
  • Mexco invested approximately $2.1 million in oil & gas royalty property acquisitions during the quarter, funded by existing cash resources.
  • The company is an independent oil & gas firm focused on the Permian Basin, with forward-looking statements subject to risks including price volatility & production variance.