GlobeNewswire·Jun 29, 2026, 6:20 AM ET

MEXCO ENERGY CORPORATION REPORTS FINANCIAL RESULTS FOR FISCAL 2026

Mexco Energy Corporation reported a net income of $1,305,722 ($0.64 per diluted share) for fiscal 2026, representing a 24% decrease from fiscal 2025.
Operating revenues for fiscal 2026 totaled $6,561,324, an 8% decline attributed to lower oil prices & volumes, partially offset by higher natural gas prices & volumes.
Average realized prices for the year ended March 31, 2026, were $64.25 per barrel for oil & $1.86 per thousand cubic feet for natural gas.
The company participated in developing 58 wells (57 horizontal, 1 vertical) at a cost of ~$1.25 million, with 20 wells expected to complete in the current fiscal year.
Approximately $150,000 was expended to complete 17 horizontal wells drilled during fiscal 2025.
Royalties from 177 gross wells drilled by other operators contributed 49% of fiscal 2026 operating revenues free of operating costs.
For fiscal 2027, the company expects to drill & complete 33 new horizontal wells plus complete 20 wells from fiscal 2026 at an estimated cost of ~$1.8 million.
Proved reserves as of March 31, 2026, had an estimated present value of ~$21 million, with oil reserves decreasing 2% to 659,000 barrels & natural gas reserves increasing 7% to 4.67 billion cubic feet.
Oil represented 46% of total proved reserves & 81% of oil & gas sales for fiscal 2026.
The company held ~$1.4 million in cash, had no outstanding indebtedness, & acquired royalty interests in 262 gross wells for ~$800,000 funded by cash on hand.