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Last $3.01 USD
Change Today -0.03 / -0.99%
Volume 1.8K
MXC On Other Exchanges
As of 8:04 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

mexco energy corp (MXC) Snapshot

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09/8/14 - $8.75
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mexco energy corp (MXC) Details

Mexco Energy Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of natural gas, crude oil, condensate, and natural gas liquids in the United States. It owns interests in and operates 15 producing wells and 1 water injection well; and partial interests in an additional 6,006 producing wells located in the states of Texas, New Mexico, Oklahoma, Louisiana, Alabama, Mississippi, Arkansas, Wyoming, Kansas, Colorado, Montana, Virginia, and North Dakota. As of March 31, 2015, the company’s total estimated proved reserves were approximately 6.289 billion cubic feet of natural gas and 659,700 barrels of oil and natural gas liquids. It also had interests in 37.8 net oil and gas wells, and owned leasehold mineral and royalty interests in approximately 5,728 net acres. The company was formerly known as Miller Oil Company and changed its name to Mexco Energy Corporation in April 1980. Mexco Energy Corporation was founded in 1972 and is based in Midland, Texas.

2 Employees
Last Reported Date: 06/26/15
Founded in 1972

mexco energy corp (MXC) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: --
President and Chief Financial Officer
Total Annual Compensation: $227.8K
Vice President and Corporate Secretary
Total Annual Compensation: $6.0K
Compensation as of Fiscal Year 2015.

mexco energy corp (MXC) Key Developments

Mexco Energy Corporation Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended June 30, 2015

Mexco Energy Corporation reported unaudited consolidated earnings and production results for the first quarter ended June 30, 2015. The company reported total operating revenue of $702,609 against $1,017,834 a year ago. Operating loss was $435,481 against operating income of $51,069 a year ago. Loss before provision for income taxes were $476,313 against earnings $1,673 a year ago. Net loss was $324,366 or $0.16 compared to net income of $19,054 or $0.01 for the same quarter a year ago. Oil and gas production increased 37.5% and 11.3%, respectively, during the first quarter of fiscal 2016 as compared to the first quarter of fiscal 2015.

Mexco Energy Corporation Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2015

Mexco Energy Corporation reported consolidated earnings results for the fourth quarter and full year ended March 31, 2015. The company reported an operating loss of $412,332 for the quarter ending March 31, 2015, the company's fourth quarter of fiscal 2015, a decrease from the comparable quarter of fiscal 2014. Oil and gas revenues in the fourth quarter were $551,894 compared to $953,291 for the same quarter in fiscal 2014, a decrease of 42%. This is primarily the result of decreased oil and natural gas prices. For the period, the company reported total operating revenues of $3,390,005 against $4,041,941 a year ago. Operating loss was $541,359 against profit of $477,340 a year ago. Loss before provision for income taxes was $538,485 against earnings of $312,863 a year ago. Net loss was $340,986 against income of $301,113 a year ago. Basic and diluted loss per share was $0.17 against basic and diluted earnings per share of $0.15 a year ago. Operating revenues in fiscal 2015 decreased 16% due to the result of a 9% increase in oil production and a 2% increase in gas production offset by a 27% decrease in oil prices and a 12% decrease in natural gas prices.

Mexco Energy Corporation Announces Production Results of Two New Wells

Mexco Energy Corporation announced production results of two new wells in the Two Georges (Bone Spring) formation in Loving County, Texas. The first of these horizontal wells, operated by Energen Resources Corporation, produced at an average rate of approximately 266 barrels of oil and 919,000 cubic feet of natural gas per day, during the month of February 2015. The second of these two wells had an initial potential test over 24 hours of 296 barrels of oil 894,000 cubic feet of gas with flowing tubing pressure of 3,050 pounds per square inch. The results are not necessarily indicative of future rates of production or reserves. These two wells are the second and third of three. Also, Mexco announced the addition of interests in two recently drilled and completed oil wells. A third well is in the process of being completed. These two new wells initially produced respectively at rates of 51 and 49 barrels of oil per day in which Mexco owns a 12.5% (approximately 10% net revenue interest) non-operated working interests. Now eight wells are producing on 20-acre spacing with one additional proven undeveloped location at approximately 3,600 foot depth in the 190 acres in Pecos County, Texas. The company currently expects to participate in the drilling and completion of 15 horizontal and one vertical well at an estimated aggregate cost of approximately $722,000 for the fiscal year ended March 31, 2016. The operators of these wells include Apache Corporation, Bold Energy III, LLC, Concho Resources Inc., Endurance Resources, LLC, QEP Resources Inc. and XTO Energy Inc.


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